hello everybody hello hello hello how's everybody doing hi everyone can you hear me Boris I hear you well yes how are you K okay um just give me one second yeah take it time are you gonna share your screen you want me to share my screen um you can share I'm sharing my screen right now on on my charts but feel free to share your screen I'm going to let you basically have the screen uh to start with because we're not going to trade until after the event so you can run people through um from the beginning I'm just going to uh say hi to everybody in the room uh make sure everybody has all the links make sure that everybody on Twitter has the links for um for the YouTube stream um and just take care of all the other business so you can grab the screen if you want I'm uh just give me a second let me grab the screen okay okay you should see seeing my screen now let me see if I can get the um screen on this side that's much better uh let me move to the daily chart yep see your screen nice okay give me one second uh yes we are in the daily chart good morning everyone um so so today we have the um inflation report the inflation report is obviously the most um important event risk on this week's calendar Boris you've got your live news stream up so that you can scream them out to us when we have them yep yep yep yep I'm going to do that absolutely as usual we will see it in price action first before we actually see it um before probably before B screams it out we'll actually see the price action of the move now whenever we trade news like we did on um on non-farm payrolls we always take stock of what is expected and also how the market is um pricing in so you know this is something that is um very important let me just see did the so are you streaming on X you're not streaming on my ex it seems uh no uh I'm gonna have to I'm gonna try I'm gonna try and uh actually it is streaming on my ex so for those of you that are on X oh Boris managed to get the video stream on X which is fantastic oh yeah awesome yeah I did that I I see so uh so we're modernizing it's not just uh the the podcast audio stream he somehow has managed to get us on video stream good job this morning Boris all right so we're on a right start okay all right so as I said when it comes to trading data It's always important to know what is expected how the market is pricing in and to plan appropriately now we don't have much time until the um US inflation report so um just to give you rundown I'm going to trade um currencies probably um immediately after if there are opportunities and then Boris will take over and he'll be looking for opportunities in gold as well as in indices so first off the most important thing to ask is what is expected right so let's boot this up on um Forex Factory so we know I'm actually I'm actually going to while K is gonna do that I'm actually posting what's expected into the uh chat so you guys can also have it in chat as well fantastic so you can see um core CPI is expected to grow at the same Pace 0.2% headline CPI is also expected to grow at the same pace 0.2% and yet but CPI year-over-year is expected to slow to 2.5% from 2.9% so headline number is expected to be unchanged like basically the same as the previous month core CPI which is exposed to exclude the more volatile um food and energy and and gas prices and auto prices and all that stuff like that is also expected to grow at the same Pace but year-over-year growth is expected to slow now I can tell you there's a very very good chance that the he the monthly numbers are not going to come out at 0.2% they're GNA going to either come out on the upside or the downside and that's where our opportunity is going to be now on Monday if you joined our Monday Market Buzz now encourage you to join our Monday Market Buzz every single Monday because we you know talk about our trading plan we talked about how I am bearish dollars front of the week dollar obviously sold off already front of the week and one of the other things I pointed out is that when we look at inflation we always like to look at gas prices and you know usually I use gasbuddy.com and you just click on their link completely free information um even though gas um is only a part of the headline number and not a part of the core number it is sorry only yeah a part of the headline number and not a part of the core number it's still important because it's still what Americans are paying out of their pocketbooks and so um the black line down here this this is the chart that Gas Buddy releases every month and ignore the um black line ignore the Blue Line focus on the green line the black line is two years ago no one cares um blue line is one year ago no one cares we only care about current and you can see well this is the August inflation report that we're trading in July the average price of a gallon was $3.50 in August it dropped to $340 so from a gas perspective that that should show us that you know there's a good chance that the year-over-year sorry the year-over-year inflation rate is going to slow and the core rate is going to slow yeah as well just to chime in K if you're using gas which is I think a very good proxy for a lot of just headline inflation uh in New Jersey which has the lowest gas in all the nation it was $299 we broke the $3 Mark I saw 299 in Jersey just uh this weekend so uh if you're using that as a metric and also there's there there's another metric that came out which is really interesting the grocery prices fell at I think 3.7% rate the biggest fall ever recorded um over the last month those two factors gener make you think that we probably could be softer rather than hotter as far as CPI data goes right and um I think CPI is going to be softer the market kind of thinks CPI is going to be softer because you can see that um first off the US dollar is down across the board pretty much across the board this morning the only currency it's not down against is the New Zealand dollar it's down against the Euro Euro's up today it is down against the Sterling it is down um against the Japanese Yen it's down against the Swiss frank it's down against the Australian dollar US dollar is down across the board a large part of that has to do with us yields on Monday we also look at the relationship between us yields and dollar Yen and US yields has pretty much made um has not risen what is this in seven trading days so us deals have not seen a positive day in seven trading days and this coincides with the ongoing weakness in dollar Yen so we know that the market is bearish US dollars going into the inflation report US yields are down gold is flat um maybe CPI will break out gold we'll see um the US dollar is down across the board good morning everyone and stock futures are down so this is kind of the environment that we are walking into this um inflation Report with when it comes to trading news It's always important to assess what is the sentiment in the market the market is already bearish dollars so the kind of already prepared for a softer release and that's where we have to be really careful now if you look beneath the hood you'll see even though the dollar is down across the board it's really not down since um what is this since the early European session the dollar is actually up so while it looks like the dollar is down the dollar is actually up I think I see this best in my um zip chart here where we look at the hourly chart we can see nice and clean um that dollar Y is actually off its lows dollar Swiss is off its lows as well so while the market appears to be already positioned for a weaker US inflation report and they are um that the dollar is lower across the board it is actually rebounded um since the European open a lot of the sell-off what happened during the Asia session now that's the kind of kind of context that we had have to walk into this this inflation report because it helps to form our ideas on how we are going to trade um you know for those of you that joining late I'm going to be trading FX shortly thereafter and then Boris will come in and he'll be trading um indices and gold so when it comes to trading news we have to have a plan and we're gonna have to you know try to trade that plan and it's all about pairing strong with week so we know that if we get a strong inflation report and a strong inflation report means um greater than 0.2% um and maybe like the year-over-year rate being 2.6% for example um so these could be in line or they can beat that would be even better uh but I don't think they will and CPI year year is like 2.6% if that's the case then I think the pair the currency to really um buy the dollar against is a kiwi why because the New Zealand dollar is actually the weakest currency this morning kiwi is the only currency that is not up uh that is not up against the dollar and so you can see on my zip chart that we actually have multiple zip cell signals now this is a Consolidated range so take it for what it's worth and it's also ahead of an important inflation report but when we have the white candles the background basically Den notes the longer term Trend and where it is in relation to the indicator line reflects the shorter term Trends so you can see kiwi dollar um when it's below the indicator line the long-term Trend and the shorter term trend is bearish and we have multiple zip cell signals this one attempting to form we have this one ZIP cell and we have also these other zip cell signals now as I said you know this can change if the inflation report is suddenly very weak which I think there's a greater chance to be but if it's suddenly very weak um we are in a situation where you know all of this will zip up by but if we have a weaker inflation report a dollar sorry a stronger inflation report a dollar positive number the trade will be and I'm goingon to write this here um just so that we're clear if it's a positive us CPI the trade will be to sell kiwi dollar and also I don't think we're GNA miss out in the fact that dollar Yen will also be moving and so those are the two opportunities sell kiwi Dollar sell dollar yet now sorry I'm like I'm Going Bonkers here Buy yet and buy dollar Swiss um because dollar Swiss this morning was actually um trying to zip by if we look at dollar Swiss dollar Swiss is the background's green and this morning you see this wi it was attempting to form a zip Buy Signal so if we get it a back if we get a strong number dollar Swiss is going to form a zip Buy Signal which could be a good buying opportunity and then dollar yen is it's not so great but dollar yen is going to react regardless and then euro dollar is also an opportunity so I think that actually what I would prefer we're going to take dollar Yen off of this we're going to minus EUR dollar ahead of ECB okay so if we get a stronger number this is the way we're going to be trading if we get a weaker number the way we're going to be trading is we're going to be selling dollar Yen because um overnight we had some hawkish comments from a boj official um and then you know we are also looking at the possibility of selling dollar CAD because dollar CAD is um was in the zip sell Zone we'll have to see actually if we get a stronger number Dollar CAD could also Zip by let me just check dollar CAD real quick um and I don't really like it too much to the upside but anyway I think that if we get a weaker number we're gonna be looking at selling dollar Yen I'm GNA take dollar CAD off of this no we're gonna leave dollar CAD on because oil prices are up 2% this morning so we have our game plan we're looking at Dollar Yen euro dollar kiwi dollar as well as um dollar Swiss so we're about how many seconds away B we're at 56 55 seconds away um seconds 50 seconds away I'll call out the numbers remember just to review Market is looking for 25 on year year on year 0.2 on core um three 3.2 on core okay let me just say I typically like 20 pip stop 20 pip Target with my um uh reactive trades so that's what I'm going to be looking at for these trading opportunities now if it's in line if it's in line it it means that you know we may we may not have much price action so if the market kind of anticipated this properly we'll see if there's any kind of juice here but um if there's a deviation there should be some volatility about 15 seconds left um I'll be calling it out 0.2 is what we're looking for on the core um 0.3 will be obviously worse uh 0.1 0.0 will be really really favorable um we'll see what the uh the FED wants to do okay here we go 0. weak um strong number looks like sell EUR dollar looks like yeah 0.3 core hot hot inflation hot inflation 0.3 core hot inflation so kiwi dollar looks like a good sell at 6130 whoa let's see 136 let's just say 6136 and then yeah this crushes this crushes equities doll I think is going to go to figure I like selling it at um 18 as well I think that's going to head down to the figure um it likes to tag the r round number but with short kiwi dollar 6135 let's see if we get some pipage out of this um so let's see let's revisit the numbers why don't you read out the numbers foror us while we're waiting for the price action so uh year on year CPI 2.5 U that wasn't too bad no normal you know head number was actually hotter monthly number was um yeah monthly okay uh let me just go through the numbers uh the the monthly number were 0.2 against 0.2 on a headline core was um uh was even at 32 against 32 but monthly core was 03 against 02 now given the fact the market was leaning leaning soft and the fact that it came in a little bit hotter is not good and also um this really really I think cements the idea that next week fed is going to go 25 basis points yeah so you know we also went short in the mum euro dollar at 11028 which is not too far from current levels so we've got two positions on and let's see if they will work out for us yeah and um you know if uh maybe maybe if I can share my chart for a sec k um just to share just for a second I want to share my my uh my screen for just one sec let me see if I can do this add here I want to show this to you guys this is very very good chart of the CPI on a month-to-month basis and what you see here and this is the thing that's going to really bother Bulls in my opinion so obviously hot hot CPI right uh 23 23 um it starts to climb then it Peaks out around February starts to decline and we go negative right and now everybody's really really calm and everything thinks inflation has been beaten but for the last two months inflation basically staying um marginally higher right includ including core going up and that is really I think the um the Deep worry of um of the Bulls is if inflation stays kind of sticky it handicaps the fed from cutting rates really significantly or it makes the FED do a policy mistake where they cut rates inflation starts to spike people start to freak out and you start to see much much worse um risk performance so it's a really good interesting here chart for everybody to to get a uh much more of a uh you know eagleeye view of how the inflation has has uh driven and it basically shows you that while inflation has calm down it it is um now stabilizing at pretty higher levels and may even begin to to percolate up so we'll have to see how that goes out yeah I think overall like Boris said the number if you look at the um let's see if they updated it they got rid of their little Cal the little clock but it doesn't seem like they put it up yet all right so cor cepi so overall you know the number guarantees that it's going to be 25 not 50 basis points at the um next FC meeting now we're not really seeing a significant amount of movement in um FX yeah a little bit you know maybe we're GNA we got the dollar is only kind of bid against um the Yen which is moving upwards but I don't like um buying that because we're still in the cell Zone um but it does seem like you that's moving upwards dollar switch is trying to zip by at 8485 the positions we have are pretty much the same positions but with a little bit less v um because dollar Yen can um be very very volatile but some of you may be wondering you know why are we not seeing more movements and I think that the only you know real reason for that is because um you know first off we saw a reversal on us yields if you look at my right hand corner you'll see that us yields are um up 0 . 6% remember they were down earlier before we were um and you can see that on the daily chart in 10-year us yields um we were we were down before and now you know we're kind of capitulating a little bit um and the market had already been kind of buying dollars ahead of the um inflation report because it sold it during the Asia session and then reversed its flow and it's buying dollars I think it's maybe just taking its time um I think that the market May um still be a little nervous about 25 basis points followed by doish comments but the inflation report is important and I think for anyone that was on the sidelines that thinks that you know maybe they only thought that they were going to do that they actually going to do 50 is now going to shift gears to the camp that they're going to do 25 um I still think the dollar is going to Rally you know um Dollar in 14 215 I think you know if we look on the shorter term charts you know we'll probably end up um you know holding but I think we just hang tight and we just see how the market um I think you know we're not going to get more aggressive because the market isn't what I like to do is if the trade really goes in my way then we'll start to press more and take more um setups but right now we're pretty much at the entry price for both of our positions um so we'll see um and we'll see what happens what are you seeing in the other markets um equities are near session lows but stabilized sort of a very same situation in other words they adjusted in the first minute of the trade kind of just stabilizing although there's a little bit of a drift downward um you know um my view is that we'll probably be biased lower today but we'll see equities are always a surprise um I put out a put out a poll right now guys take take a uh you know take a second to to vote because I'm just curious I gave you three choices 2550 or no what do you guys think fed is going to do remember you know the conventional wisdom is 25 but it doesn't mean that that they're always going to follow that they may just simply decide hey you know econom is doing really well we don't really need to do anything right now U maybe we don't cut maybe we just wait um I think that'll be a you know that could be a definite possibility so we you know we'll see how how things go I'm just curious your opinion right now everybody seems to be voting um on about 82% are are choosing um 25 base Co which is you know the convention wisdom that's definitely it but there's definitely some outliers here um it's interesting that the outliers are basically even either 50 or no cut getting about eight to uh to 11% of the vote although no cut no cut is kind of leaning uh leaning picking up a little bit more steam really really interesting uh mudi says they have to cut why do they have to cut What's um what's uh what's so critical that they have to cut economy is expanding well if they don't cut it's going to cause the markets to crash so I think think they have to cut as well and Market's already looking vulnerable it's going to fulfill my prophecy of um September being one of the ugliest months in the stock market if they don't cut interest rates and I think they know that and I think you know we could ask a more interesting question Boris than the obvious in my opinion what's that we can ask a more interesting question than the obvious 25 no I'm curious to be you know it's it's not so obvious what I want to know is more you know what are you guys um you guys trading are you trading your prop accounts right now you trading your broker accounts dollar Yen's moving upwards look EUR dollar finally plus 12 I mean this is 15 I just take it off here take our plus 12 and euro dollar um kiwi dollar is also plus 10 um I still think euro dollar we have broken below this low here I think it's going to tag the figure number so I think we're going to get some um opportunity there as well so we're finally getting some movement so what do this mean this mean that we required being patient if we were patient um we the actual trades finally moved in our favor and what did Patience mean patients meant eight minutes so it wasn't you know a significant amount of patients so you know I also closed dollar Yen at one I closed dollar Yen 142 for 26 so I took basically um uh uh 11 Pips 10 Pips in dollar Yen I took um about 12 Pips in kiwi Dollar in our in our live stream and then also for euro dollar um I actually just Clos euro dollar for Break Even okay I'm gonna so I'm gonna ask now that Kathy's kind of wrapping up her her trades let's ask um you know I'm curious did you guys uh did you follow Kathy's trades this is a question I want to know I like that question okay so let's look at euro dollar while doing Boris is doing that in a little bit more finite detail because tomorrow we have the eccb rate decision so we took out this low here all right so we took out the previous low what was that low over there the previous low was 1106 So Below 11016 euro dollar is one of those currency pairs that loves to gravitate to towards the round number so I think we're going to make it there I think we're going to make it to 1.100 and I think that that could be a really good um trading opportunity for those of you targeting that um round number and I think it could very much go to that level um and I think that I'm going to put my yeah I think you know targeting the round number and euro dollar looks good I still think you know um dollar yen is going to head higher dollar Yen obviously has resistance um up at this Zone here uh so euro dollar looks like the one with the least amount of support you know another I didn't trade too much because I didn't like the fact that the market didn't have an immediate reaction but you know we had a plan you're we I wrote out the plan strong number we're basically um selling your dollars um we're buying dollar Yen and we're selling kiwi dollars we had a plan we set our plan we executed on our plan that's how we trade news we talked through what was expected we were I was we were patient because you know sometimes on Friday if you trade a nonr perals with me we traded a lot more and we tra a lot more because it went our way very quickly we added to our positions we exited we um jumped into another position today the movement is very slow and the movement is very gradual I don't love that I don't love it when the movement is slow and gradual off of a strong report but we stuck to a resolve stuck to the fact that the um the number was Stronger it increased the the odds of 25 versus 50 basis points and um there was no reason yet to believe that um we were wrong so uh that Kathy you'd be happy to know that the majority followed your trades and they made money obviously so there you go 57 58% fantastic and you know people will tell you don't trade news and you can see we you know this is zip I'm watching the zip SE signals the sells are happening the buys on euro dollar the Kiwi dollar is exactly what we were looking for and I think there's you know there should be continuation tomorrow we have ECB so you be a little bit more careful about euro dollar but um but yeah I think it's looking good if you guys would like to get Kathy's zip I just put in a discount link to our membership right there in the uh in the chat so feel free to to use that link um that'll give you a nice big discount you can get zip the moment you sign up and be able to use the same tool she's using for all the FX trades Kathy by the way of course trades live every single day except for um for when there is there's news ahead yes she trades during the Asia session from 8 p.m New York time until about 10: P p.m. New York time and then again um during the early New York session from 6:00 AM New York time till about 9:00 am New York time look your dollar the round numbers matter I still think it's headed to 1.10 so for those of you that sold at 11 at like you know 134 I think it's you know you may still be able to grab some Pips on the downside force is absolutely right I talk about this so often it's absolutely important to know when to when you should trade and when you should not trade BK Traders did not trade um last night last night's Asia session or this morning ahead of CPI we never trade ahead of CPI we only trade after CPI and the same goes true for nonfarm payrolls we never trade before nonfarm payrolls we always trade after nonfarm payals if you think about it why you know I know that my strategy trades momentum continuation and that's what is the um idea behind zip and if you have a big number being released there's going to be no momentum or continuation before the number right it's just going to be consolidation that's exactly what you saw in this kiwi dollar chart I mean this is like the example of what consolidation means over here this is the example of the consolidation this was our trading plan over here that executed perfectly um so this is the example and it boom it took the data to drive it down and this is why we avoid bad traits which is just as important as grabbing the winning ones we avoid void bad trades by making sure that we only trade at the best times of the day and for me it's the Asia open the New York open where there isn't this huge amount of event risk ahead of us Rosen the polls are on YouTube um so if you're on the YouTube stream you should see the polls there for those of you that are an X I've been uh you can also participate in the polls there as well um and I also don't trade there's only a couple things I don't trade I only don't trade ahead of us non-farm payrolls US inflation ECB rate decision as well as fomc and then the first release only the first release of us Q of quarterly GDP so I mean the revisions don't matter we trade ahead of the revisions all of the time so that's you know basically um knowing how to increase your win rate by being only trading at the times that it works um questions and we see a lot of questions you want to be some questions out for yeah there's a question from Dev which I think is interesting he basically says all economic data predicted the dollar bearish uh what triggered your direction towards dollar bullish prior to the data coming out it really wasn't prior to the data if you notice Kathy was telling you if one we do this if the other we do that it was only after the data came out that she was able to get dollar bullish um right and and let me sometimes the reason why it's so important to only you know I may have opinion and my opinion matters if I'm trading proactively which we did in the beginning of the week the beginning of the week if you came on Monday Monday Market Outlook and make sure you come next Monday ahead of fomc I talked about how we'll be selling US Dollars before the inflation report which we did we sold the Yen crosses ahead of the US inflation report um at BK I posted one of the trads on my um X feed so but then you have to realize that you know there's a point to stop there's a point where you know the event is so significant and the News flow is so significant that you shouldn't be trading ahead of it and that stopping point is you know right before the data and then you know because the data is so important like the inflation report it's so important that it can be transformational in terms of the outlook for the the currency Market you wait you wait for the mark you don't trade a you don't take any proactive trades 15 minutes before the number hoping that's going to go your way as much as I may feel one way the other you create a plan and I walked you through you know many of you came a little late um but we had a plan we created the plan together we talked through the plan about how kiwi was the weakest currency and now ECB was expected to cut interest rates um tomorrow and so Euro kiwi were good trades to um sell against the dollar if we had a good CPI report this little block you see here is my trading plan and so um we waited for the number to come out as and as Bo said I only traded after the number was released and this is true for all those numbers I just outlined nonfarm payrolls GDP ECB US inflation we only trade after it because it's so significant and so transformational in the Outlook of um the market that it's just not worth it um to try to because you're gonna be to stop because of um this the abruptness of the move you're going to be slipped like crazy it's and but you know for certain data it doesn't matter if it's us PPI it won't matter if it's um Australian PPI it may not matter we may trade proactively above ahead of it but for certain releases like us um CPI we always trade reactively but guys stick around because Boris is going to be trading gold and the indices um I put out one last Poll for everybody because to to serve Le Kathy now I'm gosh we're both are very curious last poll here is wanted to know if you guys trade prop like you know I'm doing right now which which I'll be doing with you um after Kathy is done or whether you trade your own FX cfd or Futures account I'm just curious to know what you guys are trading um both with us with for yourselves uh it' be it be it'd be interesting for us to know where everybody's headed these days as far as retail trading is going so let us know uh so far looks like everybody's got at least uh quite a few people are trading well it's it's actually two to one to three 66% trading their own account and 32% trading prop really interesting did you give the question of both Boris I I didn't want to boot both I I I want I wanted everybody I kind of wanted Force everybody's hand because I wanted to know where the Tilt was where the primary tilt was okay because my my suspicion it's kind of confirming it it's really interesting is that you know prop is still a very very new thing and it most people are much more comfortable trading their own account or they used to trading their own account so that's why it's kind of interesting for me to see so this is good I mean I'm very very glad you guys trading your own account you you can certainly use everything that we do especially what Kathy is doing to trade your own account but you can also use it to try to pass the prop and that's something I'm going to be talking to you about uh when we get into live let's see has Euro hit the figure yet it's almost there and you know it's also important to realize some currencies love to tag the round number some currencies you know avoid it like the plague and so that's part of what I teach in the fundamental it's a big round number right it's the 10 figure yeah it is a big round number it might be a little tougher so maybe getting out at 1.1 2 three could be a good perspective um it already actually went down to 1.13 yeah so you know K we have a couple minutes maybe you could just explain people who are maybe new to FX or maybe don't quite understand how FX markets work what is it about round numbers that seems to be so important why there's an attraction point there there's actually you know a supply demand reason for a lot of that stuff it has to do with um with where people leave stops and also where there's a lot of option barriers are so maybe you could just tell them little about well I think you basically gave the answer a little bit which is that you know there's a lot of you know in the FX Market you know retail Traders are not the biggest players and even institutional um Traders and Bank Traders are not the biggest players the biggest players are people doing import export people doing um corporate hedging who don't care about Euro at 11027 or a Fibonacci level or a moving average you know um support level they care about making about doing the hedges at round numbers because they can write it down in their books they're not hedging at 1.102 they're hedging at 1.10 that's what they want and so they leave their orders with the banks and say you know I'm doing my hedging I'm doing my conversion transaction at this rate and um and then the banks execute for them as close to that rate as possible and that is why these round numbers are so important um and as Traders it's also important to understand which currencies gravitates around numbers which currencies reject them and you know those are all very very important things can can you expand it which currencies have like the highest propensity hitting I mean just I'm telling them to take my course okay okay but we talk about them a lot actually you know what let me uh let me put Let me but let me share what I wanted to say which is that every Monday we have create a plan we trade a plan last Monday we did that for non-farm payrolls this Monday we talked through what to expect for US inflation next Monday you guys have to Jo Jo me it's fomc week we have to talk about what to expect from the Federal Reserve and so there's you know you you it's a very very important to be prepared in the beginning of the week to basically know exactly you know how what to expect what's on the table and you know what are the odds of you know which way the data could lean because it's not just that we we have fomc but we also have the UK inflation data we have the Canadian inflation data uh the Australian jobs report the bank of England rate decision the bank of Japan rate decision so we actually have three rate decisions on next week's calendar so there's so much to talk about make sure you join us 8:45 a. New York time on Monday to talk about um everything that we're going to spec and one of the things I did show and and I'll show it to you again because it's valid is I create these um tables let me just refresh my screen um four and we'll we'll be looking at this so while Kathy's refreshing your screen just letting you guys know that I put in a link to her fundamental course because if you really want to know all the secrets and understand all the things that she's talking about including you know which currencies run the run the zero numbers which do not it's a great uh it's big nice sale on there I put the link in there for you guys take advantage of it it's probably the best uh best course on FX you're gonna find it's just really pure fundamental knowledge that can give you actionable trade ideas and strategies inside of it so for every rate decision the big ones of course only we um create this table that basically takes a look at how an economy changed we put ourselves I mean whenever when it comes to fundamentals the most important thing to do is to put yourself into the shoes of the central bank to think like the Central Bank chairman or president and to do that what we do is we look at how the economy performed from one change from one meeting to another it's quite simple as that so I build these tables for you every Monday we look at them if there's a big rate decision and we think about how the economy changed and so ECB meets tomorrow they're widely expected to to um cut interest rates by 25 base points but once again it's not about what is expected but what is their guidance what comes next beyond that and so you know the market does not expect another back-to-back interest rate cut so the question is will the ecb's guidance be dubish or wishy-washy and you know based upon this table um I think that lagard should be um a bit more um clear on their plan to continue to um lower interest rates because inflation yes it's stickier than they would like but you look at the middle section Euro Zone CPI headline CPI is not slowing as much as they'd like 2.9 to 2.88% but core CPI um Dr drops quite a bit and remember the ECB has a 2% inflation Target so there's a possibility that this could fall further and so I think that it's going to be cut with dovish now of course I could be wrong which is why we only trade reactively we don't trade um proactively with ECB because there's so many moving Parts it's kind of like fomc where you have the rate decision and then you have the economic projections that's going to be released tomorrow that's very important and then you also have the press conference so there's so many different parts of the puzzle that I think you know it is best to just wa wait for the dust to settle for us we're going to be trading the Asia session after that and see what kind of opportunities do we get but um yes I think based upon this table that they're going to be um they're going to cut and be dobish and you know on Monday we're gonna look at the fomc table um the Boe table maybe the Japan Japan table I mean Japan you know they don't really produce enough data to really make it meaningful um but we'll be looking at some of the Central Bank tables so make sure you join us on Monday don't miss that session it's the most session of the week and it rolls right into live trading with Boris yep um hi guys um so oh there we go we just I just I just uh banked another 50 bucks what did you do we didn't even know what trade you put on he wrote you know you were talking if you don't share it I can't share it because you're talking so I'm gonna be sharing a thousand with you guys I want I want her to just talk it out and then we're all gonna do gonna do my degenerate trading the the degenerate hour is coming guys it's coming with thousands thousands of Trades but um you know I just wanted to summarize first of all thank you so much how great was her trading today right how awesome is she planned methodical patient the exact opposite of everything I do right but that's why we do it because you guys get to see some very very different approaches to trading and styles that I think hopefully all of you can enjoy the link to her fundamental courses right there the link to get her um to get her indicator which by the way also gives you my indicator so it's a two for one link um I just put in right there um and of course as always those of you guys who want to trade Apex with me I'll put in the discount the discount today Apex last possible day to get the massive discount lock down every account you can just lock them all down because trust me um I'm always always regretful like you know if I'm blowing an account I'm always regretful that I haven't locked down a couple of more because then it's just so much easier to just start it up right then from your inventory um anyways uh great job trading today tomorrow is going to be ECB um you know uh we're not I don't think we're going to be able I don't know if I haven't talked to her yet I'm not trading ECB BCB is um there's too many moving Parts it's kind of like you're welcome to trade it Boris but because there's um the rate decision the economic projections follow then the break followed by um the press conference it's too once again I can't say I can't say this often enough um if you want to win in trading you want to have a consistency you need to know when to trade and when not to trade and what works best and what is the smartest time to trade and what is the Smart data to trade data that's clearcut and there's and inst and everything is released at one time like non-farm payrolls on Friday as well as CPI today that's fantastic to trade because after it's released there's no more ambiguity it's out the whole thing is out at one time but when you got all these different like you know there's a change in the projections and then a pause followed by um you know what is you know he or she I'm going to say or not say there's too much uncertainty so at that point the best time to trade is when the dust settles and for me the dust will settle um and I you know BK Traders will join me to trade again at the Asia session tomorrow and that's when we already know the takeaway and that's how we maintain our accuracy um by making sure that we um trade only at the best times um of the day of the week you know the best times for our strategy and I cannot stress that enough and you'll hear me say it over and over again um it is so important I mean today data days like today it's it's done if the number it comes out we trade right you know I like I I absolutely agree with Kathy and I'll be the first one to admit that this is I would say the single greatest difference between amateur and professional Traders isn't strategy isn't approach isn't even risk control in many ways it's selection it's the ability to select and be patient um in your trades whether you're trading with a fundamental technical combination like Kathy is doing or whether you're scalping on a purely technical basis I'm going to talk to you a little bit about how I've improved my own selection and how I you guys are going to be able to see in my indicator exactly the rule set for better selection of Trades but selection is absolutely key it's the hardest part is is not to trade God knows you know nobody loves to uh to jump in with both hands than me um very often you know to my own detriment what makes Kathy so great is she's incredibly disciplined at doing things only when there's something to be done so that's something really great take away um less I just want to add one more thing many of you are on the stream right now I am certain begging and hoping for the next trade from me but knowing when to stop is also very important you know we made our Pips in instantly um you we had we had like eight to 10 minutes of you know solid trading um right after the release we had a plan we sat down we created our plan together you can rewatch this video I talked through exactly you know the currency Pairs and the instruments that we're going to trade we had a plan and I even like if I um reshow my screen you'll see that you know I even documented our plan um so there was absolutely no ambiguity um and there's no guessing on the chart itself and then we took our profits and we stopped and we because this retrace is exactly um what happens all that all the time and it comes from experience yes I could have traded the retrace but that's not my personality because um my personality is to go in the direction of and my strategy is to go in the direction of momentum and data and so the retrace is actually to fade it right which is pretty valid it's you know it's definitely a valid way to trade but it's not my way to trade um so I also know when to stop which um is also you is very very important and many are saying oh euro dollar is bouncing kiwi dolls bouncing dollar Yen's retracing my the only thing I will be looking to do is maybe to I won't be doing this right now because we're already past my trading time would be to continue in the direction rather then and to like in the euro to sell on a rally rather than trying to pick the bottom um because I know my strategy I understand the strategy but I also know when to stop trading as well which is something that's very very hard for people to do especially after news releases because when you don't stop trading that's when you get back all your profits right the longer you stay at the table the higher the probability You're Gonna Lose that's why they feed you drinks in Vegas and the difference between professionals and amateurs is that we don't drink the drinks you know we take the money and walk away that's the key thing here um so really great trading I actually sit at the table for the free drinks I don't don't actually gamble but I sit next to the people they come over and I get the free drinks so yes I'm around the table getting the free drinks but dep depends on your purpose of being at the table I guess but yeah I guess that's a good point since I don't drink I don't I don't even need the drinks um but anyways oh there's another question here let's see um according to you how was CPI because of data it can be misleading and confusing sometimes for me CPI was bullish for dollar so what do you think is good to know well it's not you know CPI wasn't extraordinarily um different from what the market expected um I think the consensus views as as we sort of uh came to the idea is said CPI was mildly bullish for the dollar in a sense that it's very likely the FED is only going to uh um cut rates by 25 basis points uh because inflation was still elevated to to a degree that's relatively hot and the economy is doing quite well I was actually looking at at the at the uh undercurrent of the data in the CPI one of the most interesting positive economic things Is that real wages Rose by 0.5% that's quite good as far as income goes there's no need for the FED to go to 50 base points if real wages are rising um and the you know labor labor markets are still relatively good so um we're kind of in a perfect goldilock scenario right now uh for monetary policy and that's why I think they're gonna they're gonna air on the side of caution and go so um let me see there's any five questions I know you guys are eager to get started trading with Boris Boris while you can tell them what instruments you'll be looking at because again you know we can trade anything you like but again this is a question of uh selection um we can trade gold we can trade NASDAQ we can trade um S&P we can trade Dow right we can every our our in indicators you'll see works on everything that's not going to be the question in front of us the question is what will we trade because when it comes to my kind of trading which is very very focused scalping short-term trading there's really only so much bandwidth and focus we have focus is the single most important thing you guys see me you snooze you lose you know we we're fast in and out fast in and out fast and out make our trades right away and that requires you to just focus on two instruments so we're going to be trading the low risk instruments and I'll I'll I'll get into it a little bit later as to why I'm trading those we're going to trade the S&P 500 we're going to trade the Dow because those on a Futures basis are going to give us the smallest amount of risk we can we can uh we need to wager at the same time give us very very steady continuous profits as as we start banking those Pips and I think you'll see I'm gon I'm GNA go through the mathematics of how to how all of this is going to work on the prop trading account in terms of both how to get towards the Target and then gets and and avoid the draw down and I think you'll agree with me that's that's a really good plan of action um and of course you guys can um Can oscillate it like I said um the indicator works on any instrument but today we're going to focus on S&P and a dow because those are going to be I think the the best lowest risk highest probability to capture profits for us yesterday we had a very very good day we did about, 1500 on one account and about 400 on the other account let's see what we can do today but that's the whole idea slow steady gains one last thing I'm going to leave you with in terms of selection and focus Kathy was talking about you know no When to Walk Away Kathy um has a 100 pip Target per week and she's always been saying that that is a very very core tenant of of her success because what that does is it really focuses her attention and targets a very reasonable rate of return now what's astounding about that I don't even know what the numbers are K but I you know correct me if I'm wrong if you think about this aund 100 Pips a week is like if you win every single week obviously you don't win every single week that's 5,000 Pips a year that's huge huge returns um even on one you know I always you know we always I'm more modest I say it's somewhere between 3,000 and 4,000 Pips a year and historically have the data what has it been I think it's been around the 4,000 pip Mark well I'll tell you the numbers right now since the beginning of the year it's been um 2,413 Pips okay we um have not had a losing month since June 2023 past performance is not indicative of future results over since January 2023 we have had 5,154 Pips right so and only three losing months but the most important thing people are like okay you know tell me about those losing months absolutely one month was minus um 380 Pips the other two was minus 76 and minus5 so controlled risk um and somebody asked on the stream what's the difference between the fundamental course and the monthly membership the monthly membership you actually get our trade ideas and um you get my zip trades um that tra that I'm trading at the London sorry at the New York open and the Asia open um of course you learn fundamentals it's it's completely different um one is um it's completely different from the other although fundamentals is very important to understand the way I think um but you'll also learn it um as we go the course is a really good complement too like it's if you don't know anything about trading it's a great way to you do the course and then you go into Cathy's room and learn trade with her it's like a really foundational a great foundation for for learning how she trades because it gives you her whole philosophy of trading and um all the key knowledge and then you're coming in and you trade with her and it makes a lot much cleaner so I recommend if you're if you're new get the course and then sign up for signals and you're G to have a really good one to combo there's also a very valid question here um that I want to answer how can we trade a hour around news when the Apex prop challenge discourages news trading there's a lot of um prop Brokers that discourage news Trading hold on um and I'll let Bor speak about Apex um specifically but this is not how we trade every single day we trade we only trade news um you know just to show you how it can be done and to give you some opportunities live but I actually trade you know my trades come out at the Asia open at 800 PM New York time and at 6:30 sorry at am New York time so New York opens 6:30 a.m. New York time Asia open 8:00 P.M New York time those are the times a day I really trade trade that is not when news is released so and Boris also trades what time do you stream usually we stream we stream yeah between 9:30 and we're going to extend our streams till about 11 11:30 um what I was going to say is there is nothing that Kathy did today that is a violation of Apex news trading rules because you need to understand what the prop uh firms want what the prop firms do not want is for you to have a hunch better a bunch load up in front of news and if you're lucky you make money if you're unlucky you blow the account you know take one to burn one which is a very very common nonsense strategy notice I'm not cursing today because Kathy's on the stream as soon as she goes off the the F bombs will start flying um but it's a nonsense strategy rightly so because it's not trading it's guessing PL Firs don't want that Kathy did zero guessing today she did pure trading because everything she did was post news you could have followed everyone for trades and then in complete compliance with all the Apex rules so I just want to make sure you totally understand exactly how the whole thing uh plays out um the last point I was going to make is if you think if you think about the idea of 5,000 Pips so 100 Pips a week doesn't sound like a lot but 5,000 Pips in a year on one one standard lot is $50,000 that is how you make money over the long run that's what I want to kind of emphasize to everybody this is why her process is so powerful because it adds up to really profitable TR very veryit risk control um okay so the last thing that I want to leave all of you is um so we talked a lot about discipline psychology the way that I think and I've got to do a plug here you know I actually um participated in uh Charles Schwab brand new uh show called Inside the Mind of a Trader and they actually put me through a brain scan and while I was doing the brain scan they asked me a lot of trading related questions and they wanted to see what my brain activity was like during that time and what was really interesting and I and I encourage you to go on my um X feed and it's the um the video that's pinned and I encourage you to watch that episode it's only about 28 minutes or something like that and basically what it showed was that when I was faced with a trading Choice um I had very low brain activity which means that it was almost like robotic for me to make that trading Choice whereas when I was you know given the choice between like a green Popsicle or a red popsicle I had to think more about it about what I really wanted you know what the difference was in terms of flavor and um what the temperature was outside and I had a lot more brain activity and something that sounded so menial versus trading and I explained why and I explained a lot of that um in the um interview with the neurologist um so please you know support me watch the video and hopefully you'll learn a little bit more about how my mind thinks when it comes to trading it's called Inside the Mind of a Trader make sure you check it out on um my X feed it's the first pins link um by Charles Schwab suar said he's seen the video and he's very insightful yeah it's very it's fun it's nothing else is it's a lot of fun to watch okay so I will leave you with Boris who will now move on to um trading um the indices with you I hope you all have a great time I had a great time with you all today and um I will see you all Monday for our Monday live um Market Outlook for FC week Boe e week Bank in Japan week so much going on um so there's a question from Dev in a a question does a fundamental course contain additional information more in-depth material than what you already shared on YouTube which we are grateful um it does uh but there's also a lot of stuff on YouTube it's just more organized um in the course as well but and there is more information um and much more of the course also has some very uh interesting core giveaway like it has cheat sheets I mean it's basically it's a great little um course that you can you you obviously have it forever there's no expiration date once once you buy it as a store of knowledge that is permanent it's it's it this knowledge doesn't change this is really the core of how all fundamental trading is done and she just goes through all the key components it's like learning any any other subject um you know you have a course you you learn it and then you you'll be much more masterful going forward you know so I think it's there's a question question um Kathy Boris what do you think of ultimate Traders prop firm I love Forex live I have never heard of ultimate Traders prop fir so take it for what it's worth um like I said I love Forex live they're fantastic as a fundamental news resource but I've never heard of ultimate Traders prop firm right our um our uh prop of choice which is paid out more than $25 million well it's more like you know how many students have you helped pass the prop for us using and actually start getting funded you maybe you want to share a little bit about so first of all our prop firm of choice Apex last uh last day to get the big discounts the reason why um you know we love them is because they actually make it quite easy to pass the prop test using the techniques that I teach and if you're interested in using those techniques I'll be starting my new coaching uh cycle let me just put the link in here ah I gotta I can't talk and and and type at the same time um called pass the prop Academy and this is a great great uh coaching uh product that I put together that has three things that you absolutely need in order to succeed and pass these prop tests just to give you an idea passing the prop test is harder than getting into an ivy leak school only 4% of all traders that take those evaluation tests are able to pass it to pass the prop test right conversely 70 % so something like what is it 10 15 times the the regular amount pass the prop test when they P when they go with me into pass um pass the prop Academy because pass the prop Academy has three things to really make you successful number one it has this particular indicator which tells you exactly when to buy when to sell and how to how to interpret it so it's super super valuable in terms of having a tool set there number two every week we do coaching we talk about both strategy tactics psychology and all the best practices from everybody um that's that's in the um in in the prop trading world and then number three we have live trading every single day where you follow me trading live and you follow other people trading live and um the results have been astounding you know we're now the the the the course of students that have now pass the prop test are now on to their second level which is which is um taking money out get getting the payouts which is next level obviously the ultimate level in success of trading and many of them are starting to get payouts now so the same techniques are working really well in all these stages and that's what that's what I teach you the thing that I'm going to be teaching you today and we're going to be using all these techniques is precisely the ability not to just pass these evaluation tests but then use the same techniques to get paid because one of the other big um one of the other big things that I think is is is kind of disappointing when you see a lot of gurus on YouTube is they're very good at take Taking doing exactly what I was telling you have a hunch bet a bunch take 10 contracts let's make 10,000 in one trade get passed out great um that's wonderful prop firms love that they love that because they know your chance of actually collecting money from them doing this is zero less than zero because you're gonna blow out your accounts all the time and one of the great things that we teach you is the process is the same on the on the evaluation side as as on the trading side because it keeps your risk very controlled and that's how you pick up the actual p&l um on the on the stuff so links are in here um what is that uh um a lot of a lot of farms are going um you know I'll um comment I actually put out an article on MP funds um on our um sister website prop Trader Edge and you know you can read all about it in terms of my thoughts you know basically they you know Singapore is a strict regulatory environment and they um you have gotten stricter and you know the prop industry is relatively new and so you know they don't want it within their jurisdiction they're skeptical about it it's all um you know demo money and so what happened was more behind the scenes MP funds payment providers and banks no longer wanted to do business with them probably because they were fearing some regulatory environment and the article that I posted um which I will put into the YouTube stream explores what it means for Asia in general um and prop trading in Asia so I encourage you to give it a SK skim give it a read um I just posted it it's the x.com link there's a lot of information there yeah it's a it's a great link it's a great discussion of essentially what's happening um in that particular jurisdiction but also if you want to know the broad general idea of what prop is all about um and all of the U advantages pitfalls and all the things you need to consider as well as just the general knowledge of what prop trading is all about uh we have a I wrote a free prop trading guide 60-page PDF guide beautifully laid out like a really nice beautiful book totally yours for free um I put the link in there click that link you get the Guide okay so enough with the links I'll let Boris get to trading because I think that's what all of you are waiting for I'm going to um say goodbye and I'll see you all Monday for our Monday um live Market Outlook awesome thank you so much thank you so much very good okay so saying um somebody saying when are we starting our own mainstream media channel don't you know that YouTube is mainstream these days that's uh it's a lot easier for us to run a YouTube channel everybody come around here speaking of which by the way guys the only thing I ask of you I'm glad you you know if you're if you're loving the the content if you love The trades if you love all these ideas you love seeing me trade every day I just ask you two things subscribe to the channel if you haven't this is this way you are guaranteed to know every time I'm trading live but two bring in all your friends anybody who's interested in trading anybody who's you know who's in your community who's a Trader put out our put out our Channel and tell them to come watch me I want as many people to come in here because what you see is what you get I don't I'm not a guru I don't have a freaking plane I don't have uh uh you know a Lamborghini we don't do any of that BS and I don't sit here and tell you how smart and intelligent I am you see everything that I do good better and different um you see me trading live all time you see my accounts trading live all time you see me getting funded all the time all of it is totally transparent so if you want to have a real experience and as a result of this this is what I'm trying to tell you everybody who's in my PTP everybody who's in our classes is actually having the same real experience of success that's what I really want everybody to come in so please let as many people um as possible know about our Channel I'd love to see i' love to see people come on board here because this is um you know trading the way it should be hopefully so everybody doing good everybody doing well um thank you K let me look around here see what what you guys are saying to me as far as comments um uh let's take a look we have it's about 920 I'm I'm not going to be take much as I'm tempted to kind of want to take a take a trade right now I'm not going to take trades but what I am gonna do this we got 10 minutes for me to walk you through the absolute specifics of what I'm doing why I'm really really really happy now with how the setup is structured and um any questions you have so we can do any kind of Q&A right so first of all we're going to look at this is S&P we're going to trade two instruments S&P and the Dow right the S&P Dow blah blah blah now um on the left hand side is my BK scalper 1.0 showing me retrace signals clearly the greens are the retrace buys the reds are the retrace cells right this is the eighth period SMA the game as always is we're buying above 8 period SMA and we're selling below 8 period SMA when and if we get the signals and this is where the rubber hits the road this is where this you know where I kind of figured out I think the perfect perfect structure for how we want to trade um sorry the uh the chart on the right is the momentum signals so these are retrace signals this is the momentum signal we also have a turn signal but that's an advanced um signal I don't want to I don't want to complicate things with you right now the critical critical setup right and much as I'd like to do this you know I'm not going to do this now because it's it's Market open is here's all you need to make a Buy trade and here's all you need to make a sell trade I'm going to show you over here on the retrace side the only question you want to ask yourself here's a retrace signal right I have a Buy Signal the only question I want to say ask myself whether this is a buy or a pass is is the prior Buy Signal lower than my current one am I higher than than than than the prior one if the answer is yes I'm a buyer if the answer is no like over here you see this triangle is below even though it worked I don't give a if it worked okay and I'm back to cursing I'm back to cursing you don't like my cursing um you know mute me out um I don't care I am not taking this trade the Only Rule I've set myself is I'm buying High so the only question I have is the prior green and by the way we're going to ignore the Reds in between if there's a red between the only question I have is you know is the prior green similarly similarly on the cell side on the cell side the only question I have is the prior red the prior red is over here lower than the current Red the answer is Hell's no then there's no trade there's no trade to the cell side right that's it that's all I need to do to give myself optimal optimal probability conditions for Success now we're trading obviously on a scalp basis this is how I trade you don't have to trade the way I do you can you can change the parameters um uh you like um I enter the trade on the close the candle must close and complete the signal if it because very often at the very last second it may just you know completely go down and there's no signal no signal no trade so I need I'd rather be late than sorry the rule number one I'd rather be late than sorry rule number two is um what I want to say I was I was saying oh you know is it's got to be higher highs on the green Side Lower lows on the red side you know we and we're comparing against the prior red or the prior green irrespective of what's in between them we're looking you know we're looking at those positions um oh and how I trade I'm trading with one point target fourpoint stop so it's a very very negative risk reward ratio and um the idea here is I'm I'm trying to win nine out of 10 trades you know uh uh I'm trying to be 102 142 you know 152 um but um I because I'm trading one contract on the S&P my win is $50 right my risk is $200 and I'm trading a quarter of million dollar account I have to make $115,000 to hit my target um which means I have to make um uh 300 yeah 300 300 net winning trades to get to my target which may seem like a lot but if I'm doing 10 net winning trades a day and I'm actually probably gonna be uh you know when I when I do a lot of this it's just 10 trades in S&P maybe 10 trades in the U in a dow it's really 20 trades it's really between 15 and 20 days to get funded it's a slow steady method it's not one or two days it's a slow study method but that is a method that ensures that after you get the quarter million dollar account you can keep the quarter million dollar account and get paid out right now you can get larger size you can do you know different approaches you can say Boris I'm GNA trade one to one I'm gonna take your signals I'm just going to trade one to one uh so I'm gonna I'm gonna uh risk for make four and maybe have like you know um eight out of six you know eight eight winers six losses whatever it's your um approach can be completely malleable to what you want it to be there's no there's no um given rules the key rules is very specific entries you want to buy higher highs higher lows you want to make sure you're buying them on the signal and you want to make sure that you're you know you're trading instruments that are within your risk parameters right okay questions not sure you understand the difference between entry time for r or M there's no there's no difference there's no uh there's no difference like in other words Oh you mean like when do I trade trade retrace when do I trade momentum um generally it's whichever one first shows whichever one first shows up right so if I have momentum like like like let's just imagine you know I have a momentum trade here right and let's say I'm not I'm not in a retrace trade I'm in a momentum trade um I'll take I'll take the momentum trade right it's it's I I can flip around there isn't you know um as long as you have the higher highs higher lows U you know lower lows mentality um you can flip around that's why I have both so the stop loss on S&P is one one point target fourpoint stop and on NASDAQ it's a fivepoint Target 20o stop on the Dow it's a 10-point Target 40o stop right the idea is just a clip clip clip clip clip so um hopefully that's clear um okay all right let's go we're gonna uh okay bye guys um um okay so we got three minutes to the open we're gonna we're going to let the first five minutes of the open kind of go through you I'll take a look and see if if if um uh if we get a little bit of FL I I'm very very tempted you know it's very very tempting here to um actually know on a second let me make sure I put the trade of bait tab over here so I can I now I'm kind of just can clip through this quite quickly um in between accounts so hopefully this will be make it easy for me to execute um what I goingon to say is here's a lower low on the um um on the momentum side right and we could could conceivably take this trade I mean you know you know me I'm uh if given a choice I always want to take a trade versus not taking a trade um and you know what the hell why not um let's go to trade let's go to the short account I don't care you know short account I really don't care about as much um here's the short account I got about how much how much time three seconds left okay sell Market okay and I'm probably gonna eat it again this is and this is ah what happened here did I eat it no I didn't oh I just I have a I have a sorry I have both let me just close out my other tab here oh it's it's just tapping so this is a perfect example of do as I say not as I do never never take a trade two minutes before the open because you're pretty much going to sell the bottom which I did here and now I'm just basically eating this um um this p&l here what I just do here oh oh sorry guys I'm on the wrong trade ah I had to close this out sorry sorry ah I'm so stupid I was trading the uh the ym I actually had the right trade the trade did work but I was in the wrong trade now here's the thing that hopefully you guys can all learn from this when you make a mistake and you were supposed to sold S&P and instead you sold ym because I'm talking and you know it's very hard for me to talk and and uh chew at the same chew gum at the same time just just get out it doesn't matter just get out I I I was trying to take this trade um now I have now I have a second setup here in the S&P let's focus on this 45 seconds left if this thing if this thing you know drops below 5500 when Market Market open I'm probably pretty much going to trade this now so let's go to trade of eight um actually you know what let's put trade of eight in between this way I can look at it so now I got the S&P 30 seconds left um this candle stays stays red we're gonna we're going to sell this for a um uh for a trade um so yeah you know I I just I ate a small loss on on the Dow now this is another really good example for why you want to trade small losses because you're going to make a whole bunch of errors that nobody ever tells you about that I that I call real real world errors where you're going to hit the wrong account wrong side wrong instrument because that's TR what's trading is all about especially when you do something fast boom boom boom boom you see that you see that boom boom 50 50 seconds less than one second left why I do that right over here uh momentum trade momentum trade done done right so that's what I mean about focusing when you focus you got your signals boom boom that was a 50c trade in less than a $50 trade in less less than a than a second um that you want to trade um another approach that if you want to use obviously you know I'm showing you my way another approach that you can use my methodology with is um to not go crazy and not to do 20 trades a day but to say to yourself I'm gonna sort of take the Cathy approach I'm gonna do one quality setup per day and if you want to do one quality setup per day on a $250,000 account then you are absolutely I think uh can do this which is instead of taking one contract you can do 10 so it's a $500 trade in the S&P $500 trade in the Dow right 10 10 contracts choose your spots obviously you're not going to do it at the at the front of the open you know you're not you're not going to do it in the first 50 minutes of the trade but generally I think after 10 o'clock if you choose the U uh choose the time get the setup right you can hit those trades pretty uh convincingly once a day that's $1,000 a day uh 15 days you're done just on one trade a day um so there's a 100 different ways to skin the cat in terms of how you want to do it my whole job here with you guys in live is kind of twofold one to sort of show you risk control entries but also to just show you how to practice beforehand mean meaning that you know instead of me doing one trade I want to do 20 trades with you guys because that's how you internalize the setup that's how you understand how the setup Works in real life the more examples of it you see the more useful it is to you you know so that's why I would do a lot of more trades as well um Keith banked it very [Music] much uh uh somebody's asking me um they want to get into Futures but don't understand how it works is there a video with an explanation um I actually have a Futures course which I don't as for I'm sorry I don't have a link for you but um you know you can always email let me just put my contact information in here if you email us I'll be happy to to to send you at BK Traders .c just email me and I'll be happy to send you the future scores that I made um that I think you'll find very interesting okay let's look at this guys so now we have a retrace trade setting up where's the where's the the red triangle is it lower than the prior red triangle yes it is I got 25 um 24 seconds left let's see if this holds now I'm not even going to switch over to my uh to my trading view platform or trade a platform until about 10 seconds left because remember this has got to stay pretty red in order for me to uh uh to feel this trade right so six seven seconds left 5 4 3 2 one okay I'm trying to trying to sell this I should I sold it a little bit too early but let's see if we can get this trade down so the target is going to be 8850 on this particular trade um and may you know it's coming back it might eat me uh does it eat me yeah so I ate the trade on um on this one because the retrace trade just simply um died out and why because the first five minutes when you have lots and lots of um uh bad movement now this is one of those kind of Trades where it's stopped me out and it's probably going to go to Target and just you know just the way it is could I would I would I take the trade again absolutely if I wasn't you know trading with you guys but I'm trying to show you good uh you know good practices so I'm not gonna um you know increase my size here and and get and trade in my own account when I do this off screen the way I absolutely repair all my trades if if if I see this possibilities is I will go for large and repair this trade and just simply uh take it back uh because this this was clearly you can see this it was just simply a uh a big retrace move and then it moved down so uh and sometimes you you know um you're gonna get a signal that is correct in Direction and just will still stop you out because of volatility nature of the beast that's why I trade very very small and I'm going to make another 10 trades uh in the next hour so I could you know I could give a flying F about this one let's take a look at the um at the Dow oops sorry no I know what I want to do sorry sorry sorry sorry yes okay I want to change my tabs I'm in the tab mode so the Dow also by the way gave very very strong signals Dow is really really sold out markets are kind of you know definitely coming down hard right NASDAQ is the only one that's kind of holding bid here um so we don't have signals right now uh let's see what uh uh what the next wave of uh trades brings us right now I got no signals at all um that's a big drop 680 to 400 wow you know what's um you know what is cool when I have a big drop like this I have a big drop like this then I am actually interested in looking at my turn trades these are these are trades that I don't as I said are very uh Advanced um same idea with a turn trades by the way you absolutely see these These are the sell turn trades um you absolutely want a lower turn so this this um Diamond which is the turn trade is lower than this one that would have been a good turn signal that would have been a really good signal conversely on the upside this is this is let me just get rid of hang on a second so it's not too confusing let me get rid of the retrace moves let's look at the turn trades right here's the beauty here's what I'm trying to tell you um you never buy a higher red you never uh excuse me you never sell a higher red you never buy a lower lower green so a higher green look at this turn trade over here higher green boom money money money money right over here this is Market open so it's not it doesn't really count but this was a you know lower red absolutely money let's see let's see if we get um um if we get any kind of turn trades on U on a dow once I get two 300 points to the downside or a big big big move to the downside um I want to you know I want to start looking for for turn signals um George um is saying yeah so a couple of questions here AG is asking me do I have stops I absolutely have stop on every single trade I do I'm using trade of eight as you can see over here everything is preset everything is I hit a um a button and when you go into settings the Stop and the targets are all set so it's complet automated so it can be a microc and it's all going to get um it's all going to get executed so I never ever trade without stops and targets that's the beauty of it um sorry I'm just just looking to see what's going on over here uh and here's the uh S&P then the George is saying to me that a 4 to1 can be negative um if you you know if you get clipped out uh mentally yeah you're absolutely right um if you uh that's why I say you know you are welcome not to trade my way you can trade with a one to one risk reward ratio um and trade that way which is very very comfortable the reason I trade this way is because I'm very comfortable repairing these trades right I know exactly how to repair them um I know exactly when to you know when to go in large and repair them because what I'm looking for is like you know 10 12 winning trades in a in a row to you know to complete my uh my p&l so I don't trade Bitcoin I don't trade Bitcoin I don't trade crypto at all um uh I don't understand crypto and you know again this goes back to to knowing what to knowing what you know what you know as far as far as trading goes and by the way this can also be used uh very much on longer term charts with really really good signals as well um so if you you know you know you're not um uh limited to to scalping but scalping is the best way for me to trade very small risk with very steady return it's also very much my personality and it's also the single best way for me to show you as many examples as I can within the next couple of hours of us hanging out here so you know uh we should hopefully have three four five more signals or three four five more trades maybe 10 signals um that we can take um and see you know and see if that works out um so we have our first um turn turn trade signal and as I said we never we never buy a lower green so if we get a um a higher green we'll take a turn trade signal on on on the Dow Dow has had a big big collapse when we have big collapses that's when I like to um to look at my turn trade signals um I when we have Big R the the other thing is do you do the same thing on the short side not as much and I'll tell you why stocks are a long only asset stocks are much more favored to go up than they to go down so whenever you have big big declines in stocks the turn to the upside is a much higher probability than a uh than a fall from a downside so I like to you know if I'm going to be doing Turn trades they're much more biased to the up to to the upside than they are to the downside that sense to everybody um you guys feeling me um okay let's see if there's anything on the S&P oh S&P has a let me look it up 31 seconds retrace signal on the S&P so it's a lower red right um let's see if that gives us a chance here for um for a trade 19 seconds 18 seconds stay staying very patient until the candle completes actually my mistake AK with the with the other trade was I I came in my execution was just a little bit off so I'm going to I'm going to wait till really no seconds are left on the candle okay and of course now I sold the low let's see if this works we go boom boom uh winning trade now George you're asking me what would I have done what would I like if I was trading you know without you know without you guys watching because I I I want you to to do sort of like you know bad habits I would have easily no problem done five large instead of one large because that's a that's a 250 win against a um a thousand loss and I have a 6,000 um limit on this thing so it's it's it's a you know even if I lose um there's nowhere near I'm I'm battered but if I done that that that puts me right back into into net p&l category and I'm done right um You could also do what I was talk talking to you about just do one trade just do one single trade this was a good this was a clean clean setup maybe a little too early it's 94 40 um I don't want to do clean setups till about maybe 9:45 10 o' but this is a very very clean setup so you know you could have done this for oh sorry sorry not even 10 I take it back I would have I said five large right so 250 against against um 1,000 but you can also do this for 10 large which is 10 contracts that's $500 against um 2,000 you would have had $500 walk away you're done for the day you can also do this with your own account I mean that's the other cool thing is if you're trading your own account you know depending on how your risk tolerance is you know would you like to make $500 on one trade walk away the reason why this works so well in the S&P and probably nowhere else is because it's extremely easy to make one point in the S&P and the S&P is massively liquid right it's incredibly liquid in terms of um its ability it's got about it's got at least you know 50 to 100 on each level so if I'm coming in at 10 I'm guaranteed to to get that executed I'm not going to be sweeping the ladder sometimes it's you know see how fast it's moving by the way but if you look at um the amount of uh execution done at each particular level we don't have level two there'll be a couple of hundred contracts so 10 up which is um you know seems like a lot to to a retail you know to seems like a lot in in the marketplace is nothing for this market and it's it's a lot to an individual person you know $500 win to an institution means nothing but to an individual person for you know one minute of worth of work it's great it's great money what is the footprint on the left this is the um this is the uh uh bit direct uh what is it called D what's it what's the Dom stands for depth of Market it's a it's a depth of Market ladder so these are bits these are offers they go really really fast as you can see um when you go when when you see my mark when it slows down a little bit you'll see that I will I when I buy you'll see my mark over here and my stops and sells on both sides so I have a stop and and and a Target on both sides of the equation you'll see that as it goes um okay so um you know here's a uh example of me using a little bit of my own judgment and you have to use some judgment you had a very very steep decline 50 508 to 4 that's a 30p point move in in the uh u in the net in the S&P right actually let's take a look at my turn trades still still no still no turn trade so just to give you an idea if I get a another Diamond another D you know green diamond over here that's not a trade I want right I really need this thing to curl up come back out and turn around at a higher level for me to get interested so again a lower a lower uh green uh turn is a see how like this is a green this is a lower green this is a sucker trade it's got to be only a higher green turn so no you know no turn trades for me we're actually you know now dropping like 300 points in the Dow really really starting to sell off hard um 1 1. 13% half a percent in the S&P and NASDAQ isil it's holding you know holding bid really well um um so what I was goingon to say is um yeah you know uh when you had very very steady steep declines I may I may pause like right now this would not be a would not be a sell I made two quality profits here I'm going to wait I'm going to wait for for prices to to consolidate because um the only danger with my strategy the main danger with my strategy of course there more Strang the main danger is I'm selling lows buying highs and the way you avoid selling lows bying highs is by not being a constant degenerate you you have one quality trade two quality Trade Stop stop give it some time yeah sometimes you're GNA get you know five six you know uh green moves around you only take two of them over here you take one of them over here you should be grateful you should be grateful that you took three winner trades out of six possible winning traits don't be a greedy F don't be a greedy F right that's the key thing um okay lots of questions here oh yeah so George is saying um that he kind of agrees with my you know with my Approach that you know you have to have a little bit of experience so this is yet another reason another reason why I love teaching people prop because you can do a lot of stupid things without paying a lot of stupid prices like you know if I said to you if you were trading your own account the way I do you know getting large on a repair trade you're wrong it's three $4,000 of your own money burnt you couldn't up up from now until the end of the year if you spent like a drunken sailor like a drunken sailor on like I think what is what is that what would that buy you 5,000 5,000 will buy you 800 800 prop accounts right you couldn't trade through a couple hundred accounts if you tried right if you were just unless you're complete just to give you an idea I I went on tilt a couple times this week the total amount of accounts I purchased was three right um this the these accounts I'm I'm pretty confident I'm G to be able to to trade to um to Target I have five accounts that are sitting in inventory that are funded I'm gonna I'm going to try to uh get these two accounts to be funded and then we're going to just trade Live accounts even if I blow up my Live accounts what have I lost nothing nothing I've lost you know my entry fees um you know or $100 $85 entry fees whatever um you can do a lot of stupid things in prop and not pay the price that's why I love prop okay and if you do a lot of smart things in prop you get the reward you get the money so it's a really asymmetrical bet that's why I really love trading prop um as a trade um yeah Mima you were telling me you know to go long uh to go long S&P and now we're eating dust my friend what's going on here um now we're really starting to eat dust now we're starting to to make fresh lows here I probably should get short uh okay I'm a little bit late on on the execution so I'm G to Let It Go um oh no that wasn't so that was we had we had a I'm looking for signals here um actually you know what let me um look at the retrace signals on the Das D I had a lot of retrace I was I was so so focused on on turns okay I have a very very deep deep deep meaning that it's super super oversold um momentum signal so I'm G I'm gonna hold off on the Dow um and I had a couple of nice retrace signals on the Dow which I should have done I had I put the uh the turn signals on and it was a little too early let's go back to S&P S&P we're going to we're gon to uh S&P would have worked here for the momentum signal if I got short here that was 6625 yeah all of this would have worked uh but you know it's been such a strong sell-off very unusual in the first couple of minutes that we have you know we'll just wait we'll give it a few we'll give it a few minutes um to see if we can consolidate what I'm frankly looking for here is actually um some leveling out and perhaps a turn to the buy side where we can start you know start getting some buy signals on here um right now there's just nothing nothing to do um this was a good signal this was a good signal this was already problematic um this was a this was a pretty decent signal this was already problematic now both of these would have made money but they were very problematic because you were selling too it's too steep a decline right when you get that kind of a decline it's just too steep you know trading is always a combination of science and art and the art part of it is to understand when there's you know so much steepness in the curve um don't be greedy you you had two great trades we took them all they banked us out now we just simply wait give us a little bit of time see if we can get the other ones in there yep um what is the EMA this is a eight period SMA it's not even an EMA my friend it's an SMA I keep it super simple why eight because it works it it can be 10 it can be five eight is a beautiful little um combination of short you know basically almost everything that's in trend is going to be circumscribed by the ads SMA when it's a nice big Trend it's gonna it's going to stay above when it's a nice downtrend it's going to stay below right so there's no no reason to U um no reason to press um one more retrace trade that actually is making a lower low um let's see let's see let's see 22 seconds left I'm going to watch this the other thing that I want by the way just one last thing that if you're looking at it by the way you see how this is this is coming back on me here's what I want um let me show you big time like kind of big this is actually not a bad trade is I want it to close on the at the end of the candle probably not a bad trade let's see if it can get get this move Boom come on come on and that was and see I took the trade I made the money why was this not a bad trade so my apologies and you know I've said this many times before um I got a trade first explain later because if as you can see with my setups if I sit there try to explain I miss the trade so what made me make this trade it's I think it's actually kind of probably more valuable if I just trade first and explain later um you know because you guys well the longer you guys hang out with me the the less I have to explain so let me get bigger here and I'll explain to you why why this why I made this trade so one of the critical things I want to look at whenever I'm looking for a signal is obviously I want a lower low on the Reds lower low retrace right we see that but the second thing I really want is for the close to be 50% or lower in the body so it's got ideally I want it to close on the lows if it Clos on the lows that's a momentum trade if it closes on the highs or near the highs but it's still giving me a red signal that's nowhere near as good if you notice the really really good trades pretty much Clos on the lows you will get sometimes you know you will get push back over here in this case um this was just simply you know massive massive oh so okay let let me sort of show you the the the other um I might as well just explain to you the full um where am I here we go rectangle so why would I not taking the straight there's just a couple of rules more sophis rules that you want to keep in mind but when you're doing the interpretation the art interpretation so I want it to be a selling candle so lower lows right I wanted to to close on on the lows but I don't want it to be super large what is super large anything that is greater than my stop remember my stop is four points this candle is 71 to 78 it's seven points large it's twice my volatility so I can be right and wrong if I'm right and wrong I don't want to trade this what I mean by right or wrong is I'm correct on Direction but still get stopped out because the volatility on this thing is so huge that the natural you know retrace motion remember stocks go up down up down up down the puke back job was so large that it it took me out before it res res you know res re resumed its move down so those are the things you're looking for when you're trying to be interpretive when you're trying to be interpretive um with the uh with the setup um uh par is asking me do I copy trade I do not copy trade par um I don't copy trade not because I have any kind of a philosophical objection to it but again it comes down to focus I don't want to I don't want to multiply my mistake 20 times um I know you know the the the answer is that you you know you multiply your your your wins 20 times but you also multiply your mistakes 20 times I'm not I I personality wise I'm a very serial person I want to do one thing at a time one thing only you can see not only do I not copy I actually segregate my accounts into sell accounts and Buy accounts I have an account for for shorts only and account for Longs only right so so um I'm a person who kind of just simply likes to keep things very very um you know very very contained right um um I'll tell you something funny so U who remembers Bernie ma off anybody remember Bernie made off right the great uh the great con man uh Ponzi scheme you guys remember him [Music] is my audio choppy guys or you guys hear me okay I I I hear myself okay I want to make sure there's the New York City siren blowing [Music] around um everybody's good hear me okay so um oh yeah so I was gonna tell you tell you a funny story so sort of like my own to understand my personality so when Bernie mof got arrested right like this was in 08 forget one when he got arrested they talked about the fact that he had 10 of the same dark blue suit with the same belt and the same black shoes in his closet right and I was like I went to my closet at that time because at that time I used to you know I I I now I I could I haven't worn a suit in like the only time I'm G to wear a suit is for Rush sha Services um coming up in October because now you know we do everything on TV um remote and I'm just wearing you know my sweaters but like then you know I had to go to Studio all the time so I had to wear suits all the time but the funny thing is I looked in my closet and I had 10 of the same dark blue suit with the same black you know shoes and the sweater and I was like you know maybe I should really worry about myself just to show you how much of a you know compartmental list I am in terms of this so yes no I'm not a psycho like Bernie made off but I definitely had the Tendencies for it um anyways uh what was a question here uh Matrix I don't understand your question am I doing 34 on stops or lower can you rephrase the question um I because I don't quite understand what what what you're saying all right we're starting to turn a little bit maybe maybe maybe maybe we get a little bit of a of a turn in the market the market now is down um Buck 15 on on the Dow 66 basis points on the S&P let's take let's take a look at the Dow Dow is still still sending us sure but here's okay here's a cool thing about the indicator that you guys are going to love so one of the cool things you can see here is how the retrace are getting higher right they're getting higher what that's telling you is that that the sellers are are kind of losing their momentum right lower low lower triangles mean there's more push to the Lower Side higher triangles means that there's you know they kind of limiting they kind of limited themselves this 4030 level seems to be a little bit of a u um at least a pause at least a pause so we can use our indicator to kind of get a good idea for where the pauses are now remember Marty Schwarz was probably the greatest um individual pit tra pit Trader of 1980s he wrote a great book by the way people ask me yesterday I was in a podcast somebody ask me what is one of my favorite trading books this is this is a book let me see if I can find it uh I'm gonna send I'm gonna find the link for you guys in um and I'll send I'll send the link in here hang on this is a truly under appreciated uh book let's see if Amazon can find it here it is Pitbull not pitbulls Pitbull I'm gonna I'm gonna put this link in into the chat very old book everything is kind of oldfashioned in this book but it's literally in my opinion one of the greatest why is this this this um this link is too um oh man this link is just way too uh too many characters for this chat guys sorry I can't put this in here why is this H I'm sorry I can't put this in here anyways the book is called Pitbull Google it on Amazon all right great great um great book about kind of the you know the adventures of a guy who really just did it all by himself really was really really a Pioneer um I think one of the better books you know on trading I've seen all right we're breaking to Fresh lows on on on the uh um S&P so we'll just you know we'll hang tight it's all been selling it's just you know literally we haven't had a single Buy trade it's all been selling right just all reds we took we took um took all the all the Reds that we could and now we're just kind of just waiting to see what we can do next um let's see if there's any questions here no I don't see any more questions um so yeah I mean you know um theoretically these are all signals practically you have to select right the first two or three signals were excellent um now the probability these are that we're selling the bottom becomes much higher the longer you go the higher the probability that you're selling the bottom that you're buying the top so you get cautious you don't have to you know you don't have to take every single signal I'm not um I'm just chilling right now I'm trying to see if we can we can find even a modum of support here let's see what the S&P with the with the Thousand I really way I love how I laid out my chart now with the the Dow and the S&P in between my execution platform this makes it so much easier for me to trade because yesterday I was just cursing up a storm because I had to switch screens I'm kind of like really I think this going to be our new layout um you know as far as uh as far as stuff goes but yeah anyways get pitpull great great trading book I forgot what the hell why the hell I I thought of Marty Schwarz in relation to what I was saying but uh but you know just a really really good book click on the share trade for short link oh thank you okay let me see if I can do this what is a share trade uh God this is like you know um where where's oh here is this it copy link okay let's see if this works oh you're right oh thank you Fork thank you you know I'm like an idiot savant you know um I know how to trade my indicators I I you know I'm lost ah making fresh lows guys I I'm trying not you know I was trying not to be aggressive but today is a day where just every you know every signal is a s and by the way there are guys in my room who if you have this approach if you have sort of like a um um if you have a sort of a trend Trend based approach who will milk this they'll they'll sell the first signal over here and they'll go for like 10 20 points instead of one point like my point is that the indicator is so great at not just doing my little scalp trades but actually showing you once you find the U the trend moves absolutely uh you know great Trend moves um you know as far as that goes I want to just check on one thing here with you guys um let me just see something oh cool cool cool cool all right the other thing I wanted to share with you because a lot of people have asked me this um yeah Scott is talking about today by the way Scott is absolutely right I'm a New Yorker so this has a very personal meaning to me because of course any every New Yorker knows somebody who's you know had this tragedy I was here during the tragedy fortunately I wasn't downtown that was the only thing that saved my life but um I've been you know I've been to that place literally I was in that place like maybe a week beforehand today is 911 so um just a you know a moment of silence for that because show some respect [Music] [Applause] fortunately you know it was a long time ago and we've never had the repeat of this although I fear we might um anyways um you know back to the markets um yeah it's hard to believe it's so long ago um um I lost my tra thought oh that you know with trading the continuity trade here this is a really really strong trade I mean I you know I had a feeling this was going to be kind of negative news when K was talking about CPI I didn't think they were going to dump the you know the first half hour but one of the things that you can see about the market that I think you you know you find interesting let's see if I'm right about this today is that so we have the first half hour of dump generally the next half hour is going to be consolidation and some attempt at a counter Trend move so we're going to try and see if we could um um if we could um you know find a counter Trend move on this thing um now you know you guys want to have some fun just just sort of like do a little bit degenerate trading now I'm GNA do this just for fun I I bought the micro contract this is like literally a $5 trade just for fun just to kind of test out like when I have when I have a thought or a pattern that I I kind of want to test out I'm always willing to do it on a micro contract because I could get you know could give a flying F about uh about this this p&l because it's it's not even a NP but here's what I here's what I kind of and and I got and I and the thing made money here's what I had a thought about that kind of found I found it interesting you know how basically the re all of my trades are are continuation traes they're always telling you continuation continuation except and this is where it gets really interesting except when we have a super super long selloff constrained by the AP SMA and guess what we have now we have the inverse we have the higher the higher retrace this signal was at a higher uh low than this one right so what does that tell me that there may be a potential for a turn trade right in other words because this was a higher sens we could have a bounce trade so I just decided hey let me take a bounce tra on a one to four basis and then you know that obviously you know worked for you know for for a small move now is this is this a bounce trate no because this particular signal is actually a lower low like it's it's you know it's it's making a lower low than this one so you know you're not g to go try to fade this move but when you have kind of a fad structure you could just take the signal the opposite way the beautiful thing about reading all this stuff the more you trading it and by the way look at this now it disappeared and now it becomes a u essentially a turn trade um so you can you know you can kind of read a lot of interesting early warning early early potential things there are those of you guys who love to trade turn trades and um this kind of stuff just simply is um is Mana in heaven for you know for turn trades uh to go um the very much thought that this is sort of still you know bouncing around not really making fresh lows you can see the the market hasn't made fresh lows we could try to do one more time you know let's just do one more time let's see you know let's see if it works again again tiny little amount CU I'm I'm trading the micro not the Min not the mini so you know it works it works it doesn't work it you know it was just a a little test this one wasn't a nearly as I wasn't nearly as confident on this because this was a lower low and it's probably probably still much more of a momentum trade than a turn trade it's probably that's you know that's what it was I shouldn't have taken the turn trade but you know it's kind of it's kind of worth watching this as lots of interesting um complimentary things for us you know while we're waiting for for trade setups we can do a lot of it's it's a way to around and not find out when you're trading $5 $10 trades on a quarter million dollar account you're not going to find out you could care less but it's a fun way to around maybe maybe what's the uh what's the Target on this let me just see Mees um it's 5575 on this right on this oh I was trading two two contracts wow $10 $10 risk um so I Shing two contracts on this you know tiny little risk if it goes 5575 I'm done if you know if I get tagged out I get tagged out for for a whopping 40 Point um clip um but you know you can see how taking small contracts lets you practice like practicing tennis you know on a on a on a slow stroke um let's just see let's see if this comes up I'm kind of curious 5575 we're going to sweep it and those of you who are trading small small accounts there we go come on baby uh by the way you see this how many contracts there are is there's 60 70 contracts at this levels every second so there's so much liquidity here and this obviously goes for the large contract too that you know as I said you can do 10 quality trades and it will and and it will work it will totally work um so you know what are we seeing here we're basically seeing some signs of stabilization that's all it is and we're just basically you know twiddling our thumbs having a good time trying to see if it you know if it kind of stabilized I'm actually curious let's take a look what this what is the ym the ym is still making fresh lows um the the Dow is still making fresh lows it's still a um um you know still a sell although you know this is already like the 10th low so not one I you know I'd want to be selling although um it wouldn't be a horrible idea but you know let's let's see um it has to it has to hold now again this actually would not be even even if I was going to be selling it what's what's the bad part about this particular uh set well first of all it disappears but what's the bad part this is a in the upper end of the candle right it's not ending on the lows it's ended on the highs and that's what does you know that's what makes me um a little bit cautious about this this particular trade right um even if I even if I was going to take it but it's this already seven you know seven trade over there so um you know who wants this and you can see I it kind of reversed itself out um as a trade TR um we got clipped on the uh on the S&P while I was puning around which is fine um you know let's uh let's see if let's see be a patient let's see if we get an actual setup going our way um this a lower low um just maybe a little bit it was just a little bit too early this is this is the thing with turn trades is is you're always G you know you're always going to be a little bit early on some of these setups um but this is uh just us waiting to see once we start getting green green uh triangles and hopefully get a turn in the uh in the trade let's see what the uh the Dow is doing all right Dow is finally starting to turn so maybe in the next couple of minutes we start to build some uh green momentum trades and then we can we can start trading those uh as we go George is saying on days like today you can just use SMA as a trailing stop you're absolutely right you're absolutely right if you're a positional Trader you can use the SMA as a trailing stop um super super valuable um you know the trades like today don't really happen quite a lot but occasionally they happen and uh uh when you do trailing trailing these stops is always a really really good idea um just curious I'm gonna I'm gonna put on the the turn trades just just to see if there's anything turn signals if there's anything showing up um okay so you see like these are all lower greens but now we have a green here now if we get a next turn signal a higher green that's actually going to be a really interesting turn turn trade for us we may even be able to do a turn trade um if it shows up so I'm going to keep the turns over here the retrace over here the momentum's over here now we're going to start watching um and see how it goes uh let's see what the S&P is doing S&P is still making fresh lows wow uh this is really like trying to catch a falling knife no notice I'm really not catching a falling knife but I'm also not selling selling you know selling the absolute the day's lows today which on a ment of day is a good thing to do but it's just not a good behavior to do like the exception exactly does not prove the rule it is an exception for a reason because most of the time this kind of move is going to be selling the lows so I'm just just waiting patiently until I get until I get actually a um a turn uh on the move that a pretty horrible break I guess I guess now the market is convinced it's going to be 25 Bas point so it's not going now George is saying he's up $1,100 on a trade good for you which what are you trading George um are you trading um which instrument is it the S&P that you're on which is really really awesome yes good job good job all right Dow is trying trying trying hard to uh to kind of bottom out the S&P is still still at the low 47 area here you know it's always very easy to say oh you know you should have sold all of this and I agree um you know you can't you can't help but double you know double guess yourself all the time but if you want to be if you want to have good behaviors you know that this kind of a move is very rare this happens one out of 10 days so if you do this every single day n out of 10 days you're you're going to be selling the lows so I'd rather not not capitalize on every possible move on a day like today than to you know constantly be wrong on on days that are not like today um but it's a really impressive move so we have not broken the eight period SMA in more than an hour and a half that is unheard of almost in the uh in the S&P what I would I uh so here's the Dr D is asking a question um uh that is seems like a simple question but if you've traded for a long time you know how difficult this the answer is he's saying everybody's down all four markets are down do you recommend to stay just to just stay short for the rest of the day and like the very obvious easy answer is to say yes but if you know anything about equities if you know anything about trading there's almost never a day where we start down and pretty much stay down right yeah occasionally one one out of 100 days you have like really negative days most of the days what happens is if you decide to hold your shorts they're probably going to go right back up to at least half to maybe three qus of your of your entry size and you know blow you up so um holding your you know holding your shorts at this level is uh generally speaking today may be exception to the rule but generally speaking not a great idea you're probably going to Rally it back up now there may be a second wave at 1:00 in the afternoon for the sell side you're absolutely right that could happen but you know for now not a uh not my not my not my tactic that I would do in the meantime we just we are we are breaking just all lows it's unbelievable um every single trade to the downside um the you know the turn trades are just not coming yet wow unbelievable look at this look at the Dow uh fresh lows on a doubt okay um another you really really want to take this short right and it could definitely work but here's another reason why I don't want to do it it's a 120 to 200 it's an 80 Point candle against a 40 Point stop so I could be right on the trade and wrong on the stop out so I'm just not taking this trade um hard as it is right now we're not gonna I'm not going to force trades until until they start showing up um these are all good signals but they are very deep in an oversold condition and the probability of these signals stopping me out which I you know if I'm trading myself I really couldn't care less I would have taken this out if if I get stepped out I would have reversed but I'm trying to just um not not show you like the worst of my habits um because everybody's you know or you know I don't even know maybe maybe I should show you these habits you guys can can learn the hard way blow up a few accounts as long as you guys are doing it on Prop I have no problem with it if you're doing it on your own accounts which you know what I'm you know what the kind of stuff that I do I really don't want to do that that's why I'm really trying to be good a good trading Citizen and just show you only discipline approaches um sumar uh email me at contact and I'll set you up okay you have all the wrong information I think I emailed you back but you must not have seen my email you have all the wrong information for our room so um here let me give you my anybody wants to reach me by email it's contact BK traders.com okay just email me there I'll take care of you okay so here's you know here's what I mean about about being wrong right look at this candle it's an 80 Point candle against the 40 Point stop I short over here at 20 it goes up to like 57 maybe maybe I survive maybe I survived the uh uh maybe I survived the stop but barely you know it just it just becomes a very very problematic trade right very problematic trade wow look at this guys holy all right so I was going to say this is a lower low but no maybe it is we'll have to see if this uh if this Dow holds over here again not a trade I'm just ping around but I will take I'll take a long on this thing on the M ym this is really nothing by market all right let's see if this uh just for fun where's my ym M ym there I am so it's 24 against the 34 stop no 34 Target against the 104 stop and boom boom and again yeah nice you know just made a little bit of money for for shits and giggles um why again I'm just sort of you know I don't want to be selling the lows this was a low this was a higher low barely high low so I to you know I took the scalp to the upside this is just me foing around because I you know I after 12 consecutive red can red triangles is not the time to short the 13th one right um you bought on that long candle which which where did you buy John which candle did you buy it on you bought on this candle you mean like you bought the bottom of this candle that's probably not a bad idea but um you know I'm just foing around with uh W with with a few signals here's the S&P all right maybe we can do the same thing in S&P like this I'm kind of curious if like see how like this is a u higher low on the retrace kind of bottoming out a little bit if it sort of stays here I actually think S&P proba is going to go green but uh and let's see if this works 16 17 again I'm going to go back to my to my little this is all I'm trading micros guys right I'm trading micros oh maybe I ate this oh no This was um I I rushed the trade a little bit I I wasn't watching the trade it just it actually was the uh wasn't a higher low it was an equal low so we'll see just again foing around trying to trying to trying to pick bottoms because with very very small size because I don't have anything else to [Music] do 2875 oh this is this this is the day's low this little red number wow for you can see in the Dom it's interesting to watch the price action you see how the sellers assault it's like it's like a battle wave assault assault assault defense assault defense assault defense then you know if the assault fails they start to retreat and the and the buyers even the buyers come in right now they're still making another assault they're still trying to make that assault on on the lows of the day right um and they may they may succeed you know it looks like they might break it we'll have to see but you can really really see on on the Dom when you look at at the price action exactly how how um how those waves work um and that's really you know the foundation for a lot of my strategy from watching this you know this this wave action at work and making sure that and then I'm actually I'm trying to ride the waves today right now I'm fighting the waves because I'm just you know being an idiot but generally you know the whole point of my strategy is to ride those waves you know to make those moves uh to the upside so um so here you see how the buyers have started to pick it up and now and now you now now you saw how they finally finally turn around now what they did is here is they turn around they recovered the ads SMA so now you have this big big burst up so now for the next four or five minutes we can watch this and see if there's actually any kind of a um foundational bottom right um and the beautiful thing about the indicator is it's going to take its time before it um it gives us signals for a foundational bottom right so uh Tommy says says by NASDAQ you may be right NASDAQ is a NASDAQ got demolished wow NASDAQ also got demolished big time um that's interesting I'm actually you know I'm actually curious hang on a second let's do this I think we could trade NASDAQ I could trade NASDAQ with you guys um if we just simply do the small NASDAQ and that could give us more trades and and then you guys can actually you know mirror me each way oh this is really cool I think I can do this I can do this this this this we can totally jump around all right so yeah we can this is this is the U the small NASDAQ let me just make sure that I have it on my trade of eight yes I am that's it all right so first you know Sunshine of green we don't take that green we want a higher green right so we' need a second green that would be higher than this than this uh uh Circle for us to be able to take the trade right uh right now we're going right back down very very typical where we test the lows again the market is kind of testing lows seeing if there's more sellers coming in and not much happening right now um Dow is a green signal NASDAQ has nothing actually you know I think I I think we can totally trade uh trade the small NASDAQ I mean small NASDAQ is you know not going to be a what is that if I go five is that it's 10 it's a 1040 trade it's a nothing trade um we could maybe even make it 20 2080 if I wanted to but yeah we could you know if I trade small nasdaq's within my larger size um they could give me they could give us more opportunities for trades and you guys could have more fun with it let me make sure that I have this set up actually properly yeah it's all correct it's all correct okay I'm just waiting you know waiting to to get some good signals over here now I'm watching the um the Dow here right and here's what I want to uh share with you so the Dow had a you know we had a little bit of relief when went above the ads SM right now if we what I was going to say to you if it went went above at the ad SMA and then came back down gave me a lower low red again like right now this actually this is actually going to be a a sell signal for me because what it shows you is that whatever relief they had above the adma couldn't hold and there's just a little bit more selling going on so we could definitely I'm waiting I'm waiting for this to actually tell me if there's a there's a another retrace cell to the downside but right now so far it's it's turning it's not really showing me anything but you know a good way to kind of understand you know relief of trade is um and I probably could taking it over here is when we cross the ads SMA come back down reestablish a um a sell signal it's really worth it let me just see I'm now I'm going to I'm gonna wait yeah it's not not not doing it is it no no um maybe on this candle we'll see clearly going through a little bit of a trans I mode here oh we have a we have a first first oh okay we got first green green shoots over here on the um on the snps but here's the interesting point they're not higher higher highs they're low they're lower highs green shoots so we're not taking them right we're going to stay um stay true to our um to our directive which is that we got to have higher you know higher um higher highs on the greens so this the second momentum trade but very very low um from a you know from a lower point of view um not taking it how's it on the S on the nas same thing on NAS just starting out so we could actually watch Nas a little bit um you know what I'm want to do um let me uh just bear with me a sec guys because I'm gonna watch Nas I'm gonna watch the S&P oh here we go S&P showing me a second signal so we may have a may actually have a trade here on the S&P let's watch this man that was a big Crush from 550 to 429 in the S&P really really big decline um no setup so far 29 seconds left this really this has to rally for us to um oh I remember what I why why I brought up Marty Schwarz so Marty Schwarz Pitbull had one of the greatest lines ever because he was such a great um day trading uh price action guy he used to say you can't go from second from first to second without going to neutral in between and his whole point was that you know both when you're trading and the whole idea is if you're trading and you're losing you need to stop losing before you can start winning so that's the point of having stops but also with price action as you can see it's very rare the price action does makes a v-shaped recovery you basically have a downline that's kind of a neutral and then perhaps we know we go into second gear as we shift back up um so the maximum applies on both ends and it's a really you once you see price action for a while you totally understand how it you know how that [Music] works um S&P doing this I'm gonna make a duplicate of this and just watch this on the other side here offen screen so okay NASDAQ is uh showing a second um we're going to go back to NASDAQ NASDAQ is actually showing us on momentum celsus remember went went above the adsa now established possibly a second sell Point here so we got to watch this um if this thing closes negative we're going to sell it a big move although now I got have to hold off it's 56 to yeah it's a big move I have a 20 point stoping this a massive massive candle remember I said we don't we don't sell huge candles um ah you know what okay what the it's it's a small it's a small contract ah where's my thing 16 is my stop 16 is my target sorry wow it's kind of Frozen on me what's going on over here what happened to my thing okay so that you know that worked I did against my better judgment I you know sold the momentum to the downside um the reason why I did that is I have too many windows open let me close some of these windows yeah it's affecting my execution here um all right we're gonna have to just sorry sorry guys trying to kill this um this thing so oh okay now everything is back back up to normal okay good just too much uh I was stressing my computer I literally have like so I think it was just the Mac was having a hard time sorry let me just stabilize on on all my screens for a second so what I was going to say is why did I why did I short this this um this move even though it was very problematic and it was definitely problematic um because it was just a lot of momentum to the downside and sometimes a big candle will tell you there's more Contin the only time I will do a big candle move a big candle move is uh only after the first break of the SMA so this is the beginning of a of a possibly new negative wave and there was a big big candle move so okay maybe I I took I took the short here and it and it kind of worked but it was you know not a recommend the trade generally the big rule of thumb is if the candle you're taking a trade on has the length of the candle longer than the stop that of your of your trade it's too big of volatility candle to enter on most of most of the profit has already been uh um affected okay am I am I not am I not freezing here guys um am I unfrozen now is everything better give me a yes please uh are you able to see me am I uh unfrozen I think I just stressed out my uh my computer a lot okay is that better okay good okay all right awesome awesome awesome all right so we're going to just watch this a little bit more see if we can get today you know it was obviously a very very strong Trend day to the downside we took obviously we took about six or seven trades to the short side I I didn't even you know trade my long count at all um we could have taken probably 10 of them but it was unexpected I really did not think we're going to have such a strong Trend move so um I trade I traded a little bit cautiously I didn't capitalize on every single um possible trade that I could have right um one thing that we did today that was kind of fun is we traded the higher low on a retrace basis sort of like you know on a fade basis which this is also setting up a little bit here um just watching this this candle I know again I did it on I'm gonna do it on very very micro size just because I'm bored um and I'm not taking you know since I don't have any continuity trades so we can take this m yes if this thing stays at these levels 10 12 seconds um and gets down to like three seconds I'll be a buyer here all right I'm in I'm in the trade here the target is 2025 let's see if we can make that Target right over here you can watch it and there we go so this was like look uh we managed to actually make three three winning trades out of this it's an interesting counter Trend setup like not it's not anything I am um advocating you guys do all the time but it's fun it's actually makes a lot of sense it's a pretty good risk risk trade um at this particular juncture we had massive massive sells you have a higher low you basically reverse the the the logic right you reverse the logic you take you take the opposite I'm actually curious anybody take the counter Trend trades with me anybody take these these little counter Trend trades um or you just just watching me you know experiment myself um but you know it's a I think it's a perfectly legitimate structure and that's the beauty of of trading you can discover you know your indicator once you start looking at it from a from any you know from a different perspective you can discover whole bunch of interesting different ways of reading the same book you know um Tommy tan did Tommy aren't you like uh oh no no I thought you were new okay so you've been around okay so now we finally finally getting a a little bit of of green Sunshine um this is not a signal we need a we we need a second signal that's going to be a higher you know higher low momentum wise for us to trade it but um you know it was interesting idea it's it's it's at least giving us some possibility of a turn trade the cool thing is the really really cool thing I hope you guys see it is how great this setup is at telling you exactly what is happening right once you begin to understand the symbols once you begin to understand Dynamics when you once you begin to understand what's happening it's pretty easy to read the price action right it's pretty easy to kind of understand you know who's getting tired who's still got who's still got power which direction are things going and that gives you a much better reading of the lay of the land right you guys like this um all right no signals here oh wait I still have my turn signals but you again again Lower uh lower green on the signals lower green on the Dow the Dow though because it was the most sold off maybe the first want to show some semblance of a turn right so let's see if there's a semblance of a turn Mikey likes it all right Mikey likes it good job semblance of a turn I'm watching the U watching the Dow Dow may be the first one to show us a um possible green signals oh man you know what's gonna have to happen you know what's gonna have to happen I just realized if I I wanna I told K that in order for us to really trade well I'm gonna run these things probably two and a half hours like you know starting next week we're GNA we're GNA trade like 9:30 to 12 because one of the things that happens I realize is the markets like today the markets really cooperating the first hour we could have been done in the first hour but a lot of times you know they don't cooperate we have to we can't pick and choose within the 9:30 to 12 o'clock there'll be a great Trend segment where we can totally capitalize on our trades but we don't know exactly when it comes so we really have to run it like you know longer Time stuff right but the espresso machine is in the kitchen and now I realize if I G to run these uh these Marathon trade sessions I'm G to I'm G to have to get the espresso machine to be here we going have to buy the espresso machine to be here um because we can't sacrifice that you know that is uh uh that is sacran all right still looking to see see what the turns are where's the where's the NASDAQ NASDAQ is still this ndaq is still still wiping out it's still kind of negative uh and where's it that where's the SMP S&P still kind of negative higher low higher low on the S&P though Dow turning positive that is the first one to recapture the AP period SMA and start to turn a little bit positive right be after being sold off the most 600 points to the downside so maybe there's just a little bit of a U of A turn trade here [Music] coffee minimizes mistakes is that what you're saying double 7 uh the coffee minimize the mistake yes you know you create the right the proper environment is to have everything at your fingertips coffee being a uh a critical component to successful trading watching Nas Nas is also starting to bottom out a little bit see it's really isn't it really cool how um when you start to really really understand the the price action in depth that the very same signal that signals continuity to you can also signal reversal like this is the thing about markets that's very hard to explain to to new people because um in real life when it rains it's always raining right it's always wet but in the markets sometimes rain can be wet and sometimes rain can be Sunshine right that's the thing like everything is is is totally binary depending on context and the signals can show you context really well you know dynamically by showing you sort of um interesting hints in the price action right so depending on how you read the context you can actually take the exact opposite um signal from the very same indicator that you know that you have here um and that's you know it's just only something you understand about markets after you've traded a long time that you can't really explain to people in the real world that's why most people who try to trade it's it befuddles [Laughter] now Gordon says do not set up espressos and IV Gordon the espresso is the IV you know I'm joning because it's been an hour since I haven't had my my my fifth espresso so I'm you know you don't want to see me jonesing um all right we're starting to turn a little bit let's see this is is the uh is the ym Turning I no okay all right so being patient I'm just you know I got nothing so I'm doing nothing NASDAQ starting to turn a little bit S&P starting to turn a little bit but nothing much going on here really puked it out a lot huh all right um let's see what the well let's see what any everybody's saying on Twitter here see if anything is is happening here I love Doug Doug pum now the debate is over I can focus on losing money in the stock market that's true that's true it's funny all right well it's all debate debate news nobody has anything interesting to say about markets oh we're back down to lows back to Fresh lows this is actually this a session lows I I sold the lows just because you know I capitulated you know to the low I sort of um took a look at this and I thought okay you know we're making fresh lows after we kind of tried to do a relief over the E Period SMA there should be some continuity over here what's my TP on this 1350 so we'll see I I it may it may retrace against me the the move I didn't realize I didn't quite realize that this move I wasn't looking at this candle very seriously I should have thought about this it's a 19 to to 13 candle six six point candle too big a candle for me to shorted um so watch my mistake and you know watch me um watch me probably eat it because it was a big mistake it was too large a candle to have shorted especially on the lows but you know let's give it a shot let's see what happens yeah it's gon I I I eat it it's fine it's it's it's definitely starting to turn here definitely definitely starting to turn here definitely okay now watch this we're gonna have fun a nope I'm eating it I'm eating it all right I've ate this uh uh this one I ate both ways um because I was trying I was trying to trade the turn tra but this wasn't you know this wasn't a good good uh good signal to have turned um and now I'm just going to let it go I'm not g I'm not I'm not gonna eat it again um bad sequence for me because I was just trying to you know trying to trying to do a reversal move um on a stop and it just kind of died me out um this was a bad trade because the candle self was too large right too large um now I'm going to try to be patient and not tilt myself and see if I can find a better better setup I'm just you know we it's been so long that we haven't had a trade that I just started to kind of force bad trades here and you see that that happens um again fortunately I have small sizes so nothing I do really really hurts me badly but um this was an unnecessary uh unnecessary error in my trading okay 89 seconds left there we go okay that was that was a better trade so why was this a better better trade let's I mean it's actually you know what I it's actually good that I I want to show you the good trades versus the bad trades why was this a good trade versus this was a bad trade this was a good trade because this was a lower low but a muted candle there was more continuity here this thing whenever you have a large candle and I know it's tempting to trade trade the large candle the retrace risk the TR you can be right on the direction and wrong on the trade all the frecking time on a large candle I took this the wrong way that I try to reverse myself ate that um you know and I'll work I'll work it back by you know by tomorrow I guarantee you I'll I'll be fully back on this on these trades but this was a it was a bad sequence because I did not follow my own rules it's just a really good lesson I think it's it's actually almost better that you guys see me up a few times than to make to make every trade a winning trade because um it's much much more intelligent to understand where the screw-ups come from so that you don't tilt this was a purely bad execution so there's no reason to go tilt you know no reason to fight the market um the mistake was solely mine I had to correct it [Laughter] right okay let's the ym let's do we have a turn trade in the ym I'm just waiting for what I want to to find a good green trade it's been it's been three hours without without a good green trade I'm just trying to find a good green trade the market may not give it to me and that's the thing so remember like you know what am I you know what am I doing here in my mind I'm looking for green trades the market doesn't have to give me the market can say it's going to be all red trades and you're just being an idiot Boris because you're filtering out the opportunities I'm giving you very like just a good lesson in in understanding how our own psychology will sabotage us from time to time which is again I'll say this at If an item you will up the only thing that you can do protect yourself is trade small and you know if you notice I traded small so I'm not really hurt both you know the counts are totally preserved um and I actually you know I've I've actually only traded my my short account my long account hasn't you know um hasn't even been touched and that's another great thing so like two things that you do irrespective of whatever your strategy is you separate the long and the short this way if you're stupid on one you're still smart on the other and you trade small that way if you're stupid continuously you're still not dead um everything else can be fixed these two things if you do them um you can stay alive and then you and you can correct you know course correct mid midterm so really those are the two big things that I do that you guys see and you you see this live in terms of how they go right why fight the market you're right why fight the market because um because mentally I'm like the market is already oversold the market is down one and a half percent generally when the market is down one and a half percent by 10 o'clock in the afternoon or 10:30 in the morning it's going to Rally it is Rally it's bottomed out it's bottomed out right but I am too eager to look for the greens and not really taking um full advantage of all the Reds that are being presented are you right is said oh I called you you're actually gdd I thought it was God talking to me but just gdd but anyways you're actually right GD that's what I'm trying to tell you um so mistakes are inevitable lots of psychological Loops in your head are inevitable the key thing is if you create um opportunities that do not oh here we go here we go here we go here we go that do not endanger you you can survive okay so what what I say here here we go what I say here we go the Dow turns right right what we're looking for is remember I said a high you we need to you know higher green this for a second for a second popped up as a as a momentum trade here that would have been a higher green than this one the prior right as I said we always compare to the last green it doesn't matter if it was like 10 10 Reds ago so now you know still no trade still nothing in a dow still no still no signal that's keeping me keeping me on on the sidelines but at least it got my interest um I'm Trading tring Apex prop account which is being traded through trade of8 right now um this is a prop account it's a virtual account okay all right no no no signals here let's go look at the the NASDAQ nothing here S&P nothing here so the Dow is the the other cool thing is when you're watching the three the three excuse me three instruments you can see which one is leading right the one that was the most sold off is the one that's finally started to show a little bit of a turn and once we get that you know um that turn signal uh we can we can take the lead on that on that instrument A lot of times that happens the one that's the most beat up is going to be the first one to um to get up off the ground sometimes you know not always but sometimes first retrace signal in Dow couple of green ones that are lower lower lows nothing nothing going on over here and N I'm really surprised that NASDAQ is just NASDAQ is just showing fresh fresh cells here turning on that ndaq deping on the Dow all right let's watch the Dow we're just going to focus on the Dow see if the Dow can give us a signal the other thing I hope you guys really like and this is the key thing I'm gonna I'm gonna put the link again here um you know how like I mean I see a lot of people do the hey you know I'm making a trade here using ICT or Fibonacci or some other and it's never ever ever the same analysis twice on the chart right there's always something different the guy is seeing on the chart that is completely nonreplicable and what's so cool about having the indicator is it's a thousand times replicable there is no um interpretation I mean there's a modum of interpretation in terms of candle there's a couple of rules but they're all replicable rules everything is rules based so so if you have a rules-based approach it is just so much easier to trade it continuously because then you're not interpreting every minute some um subjective view of price action right this is not a signal by the way unfortunately much as I love for it to be a signal um it's not a signal it's a it's a lower it's a lower triangle right it's a lower triangle not really a tray for me so so you have to be a little bit patient you know oh uh we can go to the I want to go to the Long Count now actually let's go to Long Count see the long C has just been completely untouch today right um all right everything is starting to turn a little bit you know what we're gonna do okay let's have fun we're not we're going to take a small one mm by uh you know just to prove to me that I'm wrong again but at least you know is this a 2010 hopefully it's a 20 40 ah It's a it need to be 40 say I'm gonna get stopped out on this trade for the for the wrong reasons anyways um okay all right I took a tiny tiny little um little trade in the in the Dow because it wasn't a signal but I kind of wanted to see if there was a possible turn trade in the Dow right and so in this particular case here's the we actually it actually worked so if you don't have the proper setup now now we actually might have a setup now we actually might have like this is a higher low so now we can actually go to the ym to the real ym I got 32 seconds and see if that you know Works our way oh hold on a second why is this not working 1040 okay that's okay that's fine okay let let's see if this uh if this ym holds because you see this is a is it really a higher it's not really a higher low it's not really I guess it is I could I buy Market okay let's see I'm not sure this this wasn't I wasn't quite happy with this thing but let's see if this works for us um so this is this is y am 30 want is the trade wasn't a perfect turn trade see I I I needed to be a little bit more patient on my turn trades because you can see that on the chart it's not really clearly definitively higher um a higher green right um and you know I'm just kind of forcing the trade because I really wanted to show you hard Tre so I took the little green the small micro trade on the first one because it was a lower green I just you know I just trying to trade the turn um this one is problematic at best what's my TP on this by the way it's uh 31 all right let's see if this this has any any chance of of doing anything we're trying to trying to get to 31 on on the trade here and again not you know not a great trade but I'm you know I'm taking it just to um because I'm you know I got I got to go and I wanted to just show you one this one is actually like if this one stays this one is a clear higher green like a you know like it needs to stay but of course it's a big if if if we hold if we hold the greens here if it if it if it starts to Rally here this is probably the right signal to take 35 seconds left if this holds it needs to hold to these levels you can clearly definitively see this triangle is higher than the prior one that's a pretty good turn trade signal that's where we want to be on the green side if this holds and it's got to hold obviously eight seconds left 7 seconds left 4 seconds left one second left so you would you know you'd be in at 26 for a 36 Target here on a on a kind of a legitimate turn you know higher turn trade signal um and you know we and and and it goes through you know it went it went through the whole thing now I came in early I got lucky I I didn't I got lucky because I had a big big stop behind me so I was able to to to hold this but my timing was a little bit off but I just want to leave you with a quality positive trade you know like just sort of a quality um setup to sort of to show you exactly what I was waiting the whole time now if you are a like a one trade per day trader or if you're like a Trader you know this very very patient this easily could have been a $500 trade you could have done this for 10 contracts on the on the Dow just stocked stocked stocked the trade would have been here it would been super easy you would you you could have done you could have made a thousand doll it would have been 20 point move right just a huge huge move you could tell once you had everything aligned it worked like a charm right it worked like a charm and that's the thing that I kind of just wanted to um to explain to you guys that the setups are great as long as you're patient enough which of course A lot of times I'm not um and look it took us like you know like basically 45 minutes to to wait for that f turn trade to really really work but when it did it worked like a it worked like a charm right now we you know oh and you know and finally there was also there was a couple of good turn trades in the S&P we could have we could have done this for 10 in the S&P super easily and that would have been a clean clear trade to the upside same thing right um so anybody take those trades by the way anybody have fun with those trades I hope you did um and there's you know there's more juice on on on the uh on the fruit here got another high um uh higher high retrace trade popping up for us happy to trade that when I have it um got a win long good job Ricardo got a wing long everybody got a wing long good so you know I guess live trading is all about watching me uh Watching Me Be impatient until I until I finally get my setup right I think the rule of thumb is let Boris trade micros or you trade micros with boris's stupid wild trades until we finally get the right setup and then we can trade it properly um anyways I'm glad you guys had a good time the Long Count is nice and you know nice and forward the short account got clipped a little bit today and I'm gonna I'm gonna get it get it right back you know I will I will definitely do it I don't think we're going to do live trading tomorrow because we're gonna take a little bit of pause we're GNA trade live in my in my room uh um in um uh in BK so if you want to join me in BK everybody uh can just join me right over here and join Kathy um and uh we we're going to you know reconvene against next week next week I'm really going to try to go for longer longer trading sessions and next week we also of course have FY which is really really good so uh we're g to trade the FY uh afternoon session for those of you guys that want to trade that that'll be a lot of fun so um so that's it everybody have a wonderful wonderful day um I hope you guys really enjoyed it was a lot of fun I like doing these these longer train you know sessions even though sometimes it's it takes a little while for us to kind of um you know get the right setups today was a very unusual day really really really strong Trend that just would not turn until it finally did but even when it finally did the signals gave us the right you know the right opportunities to uh to make those turns and they continue to give me us that opportunities right so thank you guys everybody enjoy I'll see everybody in the markets um what make sure you get everybody to come and join us um on trading live tell your friends about it because I love doing this and as you can see I do it over and over and over again signal signal signal time to TR I'll see you guys later bye-bye