YT YouTube2Text

YouTube2Text → Transcripts → YouTube transcript (7WM8qdkanIY)

YouTube transcript (7WM8qdkanIY) — Transcript

4,365 words · 596 segments · language en · Watch on YouTube

Open in transcriber Summarize with AI Download SRT/VTT

Full transcript

0:12[Laughter]
0:16[Music]
0:47hello folks welcome back all right so
0:50we're embarking on a new journey for
0:54some of you and for those who have gone
0:56through my old vintage ICT tutorials
0:59these will probably be a little bit more
1:02user friendly and concise I did have the
1:07aim and goal in mind to make them as
1:11short concise is dense as possible with
1:15content but still not be so long in a
1:19time window
1:20I want the durations to be a little bit
1:21more manageable so that was the goal for
1:25this this round of tutorials we're gonna
1:29be talking about what should new traders
1:31study and practice ok so what's gonna be
1:42covered in this module
1:43ok the ICT concepts used in this one
1:46there's gonna be the theory of liquidity
1:48raids or stop runs introduction to
1:53liquidity pools
1:58how to locate high probability liquidity
2:01pools introduction of the ICT order
2:07block high accuracy entry points low
2:14drawdown entry tactics high probability
2:18targeting the benefits of scaling
2:21profits and how to make money when you
2:25are wrong all these concepts and ideas
2:30are going to be used in practical
2:32application but before we show you that
2:34it's important to begin with a overview
2:40okay so when we look at price action as
2:43a new trader you're going to come into
2:45the marketplace especially with Forex
2:47because it's so exciting it's fast paced
2:48it's it's a wonderful mark it's a
2:51beautiful market it gives plenty of
2:52opportunities you can be day trading it
2:54you can scalp it you can position trade
2:56it you can swing trade it it's
2:58absolutely phenomenal I love it it's a
3:00to me it's the best asset class today
3:03however like you when I first got
3:06engaged in the study of price action for
3:09Forex I quickly found myself doing a lot
3:13of things I should have been doing and
3:14what's worse is I was an experienced
3:17trader from other asset classes stocks
3:19bonds commodities and I did trade the
3:23currency markets by way of the futures
3:25market so you would think having a
3:29decade of or more really of experience
3:33before getting involved in the foreign
3:35exchange market that I would have had a
3:36little bit better grasp on my emotions
3:39in my excitement but that didn't happen
3:42because it's 24-hour market it moved
3:44around very liquid and it was like a
3:47it's like a candy store for me so I did
3:52a lot of things wrong and I've learned
3:53over the years and these videos are
3:56gonna help you avoid a lot of those
3:58pitfalls so we're gonna cover an element
4:03of price action that I think is
4:04essential and if you have no previous
4:08trading experience if you've not
4:11opted your mind with the retail stuff
4:13that is promoted in the industry you're
4:16actually added advantage okay folks that
4:20have gone through trading courses and
4:23material are going to have some
4:26hardships with this not just with this
4:29teaching but all of the ones I'm going
4:30to be teaching the constant theme is I
4:36want you to think about the market place
4:39completely opposite to what retail
4:42teaches so retail is like Elliott Wave
4:47supply and demand harmonic patterns
4:52animal patterns all these things that
4:54you put on your charts they're all
4:56distractions all you need to know is the
5:00open high low and close okay there's
5:02four reference points that make up price
5:04and we make charts based on those four
5:07reference points now we have an element
5:09of time that's a factor that won't be
5:12talked about in this module but I will
5:14talk about it in coming lessons but I
5:19want you to think about when for
5:21instance we're looking at this chart
5:22here now this is - happens to be the day
5:25of this recordings Eurodollar okay it's
5:28a 15-minute time frame and I want you to
5:31look at it and maybe some things jump
5:34off maybe other things aren't so
5:36apparent or obvious to you but I want to
5:39kind of change your perspective on price
5:41action and I want you to focus in on
5:44areas in price action it doesn't make a
5:46difference what time frame you look at
5:48okay because price is fractal meaning
5:51that the things that you can see on one
5:53time frame they can be seen on the lower
5:55time frame or the higher time frame as
5:57well so it's a phenomena it's it repeats
6:01itself okay the same type of formation
6:03or setup can be seen on every time frame
6:06so when we look at price or how I teach
6:09my students to look at price I want them
6:11to first understand what makes the
6:14markets move okay without understanding
6:16that your probabilities of being
6:19successful in developing yourself in a
6:21demo trade is highly unlikely and you
6:24must
6:25forget about becoming a live fun trader
6:27if you can't do well in a demo you're
6:29not going to do well on a live account
6:31everything that I'm teaching here should
6:34be done in the medium of a demo all of
6:38my teaching is done in a demo and that's
6:40just the best way to do it play in the
6:42sandbox
6:43it's risk free and you learn to develop
6:46good habits this way so what do you do
6:48with a demo account well before you even
6:51put on trades I think that it you should
6:54be studying price action like this okay
6:57I want you to think where every one
7:01else's trade idea would fail them now
7:06think about that because when you read
7:08books they tell you buy here sell here
7:11your stops here try to aim for this
7:14target ok so they're geared towards
7:17getting you into a move and the stop
7:21losses are pretty generic below an old
7:24low above an old high I have started a
7:29new wave of free membership followers
7:32online and they have shared their
7:35enthusiasm with the discovery of
7:37something so simple but it evades most
7:40traders even traders that have been
7:42trading for a long period of time if you
7:45look at periods in price action where
7:47there are equal highs and equal lows
7:50this is the easiest most obvious price
7:53point to see in charts every time you
7:56see that I want you to note that ok put
8:00a small little trendline horizontal ok
8:02and that's the only type of trendline I
8:04like we're delineating previous points
8:08where it made equal highs or slightly
8:10higher or lower it doesn't make a
8:12difference if it's exactly or if it's
8:16off by one or two pips the general theme
8:19is if it looks close enough then it's a
8:22double top or a double bottom now retail
8:25circles will teach that these are good
8:26areas to trade off of as support
8:28resistance institutional minded traders
8:31think entirely different they know
8:34what's sitting above there's equal highs
8:35its traders by stops
8:38and they know what's residing below the
8:39equal lows traders cell stops so the way
8:44institutional mindset is poised about
8:48looking at price action they're looking
8:51for counterparties they're looking for
8:54the opposite side of their trade so when
8:58everyone else is in the retail world
8:59looking for indicators to give them buy
9:02and sell points institutions are
9:04actually thinking where are the orders
9:06resting right now in the easiest way I
9:09have learned to teach traders to start
9:11with and there's other ways to do this
9:12but as far as I'm gonna go in the free
9:16content this is the only one I'm going
9:18to teach and it's a very simple one in
9:20literally a five-year-old can see it in
9:22the chart so anytime you see a double
9:25bottom or a double top put a small
9:28little segment or a line above it or
9:30below it delineating it and put a
9:32notation what it is above double tops on
9:36your chart make a small little notation
9:37that it's by stops and below equal lows
9:40cell stops and I want you to study do
9:44not demo trade do not try to pick the
9:46direction I want you to study it for one
9:49full month do nothing else pick one or
9:53two pairs literally go through and watch
9:56how many times this phenomenon takes
9:58place you can look at it on any
10:00timeframe but I think a 15 minute time
10:02frame is ideal because you'll see a lot
10:05of scenarios to pan out now I traded two
10:08markets today at the time this recording
10:10I sold short the dollar cad and also so
10:13sold short the euro dollar okay both
10:16pairs generally do not move in the same
10:18direction but I knew there was a strong
10:22likelihood that the dollar cad would
10:24sell off aggressively and therefore any
10:26movement down in the euro dollar would
10:29be a suspect decline and it would be
10:31reaching for sell stops so that's gonna
10:32be the context behind what you see me do
10:35later on in this video that was a
10:36recorded trade so as we're looking at
10:39price I want you to take a look at this
10:41area rate in here okay we have equal
10:44lows and price has already went above an
10:48old high and broke down and it's found
10:51an area of
10:52consolidation and this is the very
10:54consolidation that I taught you how to
10:57trade the New York set up for scalping I
11:01want you to think about that if this is
11:05a short where could you reasonably
11:07expect to see price go well obviously we
11:10would expect it to go lower but
11:12targeting what specifically well we know
11:14there's equal lows here and I like to
11:18look at old lows and old highs and
11:21project 10 to 20 pips beyond those
11:24double bottoms and double tops so in
11:26this double bottom folks see that as
11:29support price comes down hits it here
11:32retail minded traders are going to see
11:34this rally up as a buy I do not want you
11:38to think that I want you to think the
11:40opposite I want you to think that this
11:43whole scenario is just the market
11:45getting ready to sink and go lower and
11:47attack the sell stops that are below the
11:50market place here for those traders that
11:51have been fortunate enough to be long in
11:53all this movement Road up to this high
11:56but still did not take profits and have
11:58open positions and their protective sell
12:01stops are gonna be trailed up below
12:02these lows so institutional minded
12:05traders they're gonna see this as
12:07liquidity the market will drop down 10
12:12to 20 pips below equal lows and that in
12:14itself you need to be determining
12:16whether or not that's a trade that's
12:17viable for you so what's a viable trade
12:20I teach that my students as a new trader
12:22should think about 20 to 30 pips per
12:26week to start and that's a very very low
12:30threshold objective it's easy to get
12:32probably doesn't feel that way now as a
12:34new trader but I promise you over a few
12:37lessons you'll see how very easy it is
12:40to find 20 or 30 pips over the course of
12:41a week the problem is gonna be your
12:43ability to refrain from trading once you
12:46get it in your demo account you should
12:48exercise patience and not do any more
12:51weight to the next week because this
12:53teaches two important and crucial
12:56elements to longevity and trading number
12:58one it teaches patience patience waiting
13:01for the next set up now there's gonna be
13:02a lot of gyrations in the chart that's
13:04going to draw your attention you're
13:05going to want to do
13:05something with it there's nothing wrong
13:07with paper trading it in other words
13:08making notations and saying okay I would
13:09hypothetically do this and
13:11hypothetically do that but when you
13:13practice practice with a demo account
13:15doing one execution manage it to get 20
13:19to 30 pips for the week and then stop
13:21don't do any more demonstrating and it
13:23also teaches discipline so you're
13:26forcing yourself to follow rules
13:28everyone else is taught in the books to
13:31trade your edge keep doing the same
13:34thing over again while your hands hot
13:35play it hard
13:36that's this foolish we're not gambling
13:38we're looking for high probability
13:40scenarios and setups so we have to
13:43understand what that is so in in
13:45addition to and a compliment to the high
13:49probability scalping course I'm using
13:52this first video to kind of like segue
13:55into a little bit more detail I want you
14:00to think about what makes price move
14:02prices move to levels where orders
14:05reside now orders reside above old highs
14:09and below old lows so if we see double
14:14toss and double bottoms our charts
14:16should be noted like this notice there
14:19is an absence of any kind of indicator
14:21except for now the application of a
14:23Fibonacci the Fibonacci is what I taught
14:26to use to get the optimal trade entry
14:29now what I'm going to show you here is
14:30the classic ICT optimal trade entry
14:34sixty two to seven times treatment level
14:36get short look for an objective going
14:40lower in here you can see how price did
14:44have several opportunities to get short
14:47at the sixty two percent tradesmen level
14:48now finally expanded down hit the first
14:52skilling objective which is the old low
14:55seam here then target one is hit target
15:00two is hit and then the symmetrical
15:01price swing okay all of these levels are
15:04in agreement with running below these
15:07equal lows so it's not the fact that the
15:10magic is done by the Fibonacci the
15:13understanding is is there's traders that
15:15have been going long here double bottom
15:18is going to have trail
15:19on their by positions ringing their cell
15:23stops up so the markets going to come
15:25back and grab those orders the market
15:28does in fact collect all the cell stops
15:31and then look at the nice vault higher
15:34in price afterwards this big response
15:37here is post sell stop rate in other
15:42words after the cell stops have been
15:43gathered up and tripped anybody that was
15:45long now has been knocked out so if they
15:48bought here or somewhere in this run up
15:50here okay they have been taken out they
15:54can't capitalize on anything going
15:55higher but what happens if you don't
16:00have the classic ICT optimal trade entry
16:04on your chart so you miss it what do you
16:05do well if you don't get into that
16:08Fibonacci 62 to start chasing level as
16:10that balance occurs here what are you
16:14left to do do you just let the trade go
16:17know over the years I've shared examples
16:21of me getting into a trade and for those
16:25individuals that aren't really
16:26interested in learning from me they
16:28they're quick to point and say well
16:29that's chasing price and you're gonna
16:31see just because we're not entering at
16:33the 60 to the 700 tradesman level and
16:35we're getting in somewhere down in here
16:37that's not chasing price it's absolutely
16:40not chasing price and I'll give you a
16:42perfect example of it in this recording
16:44but I want you to think about what can
16:46we do as traders if we don't get this
16:50area up here because I first taught that
16:51this is where you should get in it the
16:53problem is over the years I've been
16:54inundated with emails stating that folks
16:57don't have the courage to get in and
16:58they want to get in but many times they
17:02are too afraid to chase price because
17:03they heard me preach don't chase price
17:05don't chase price my definition of
17:07chasing price would be once it breaks
17:09below the low here then you are chasing
17:11price you if it's gone too far
17:13and you're too close to where the
17:15targets would be to be able to see a
17:18profit okay so what do we do well we can
17:22focus in above that low in this area
17:27right in here I'm gonna take you right
17:28into that area with a little bit more
17:29detail
17:33so this is that section of price action
17:36we just zoomed in and I want you to look
17:39at this the up candle right in here
17:43prior to this down move this is what I
17:45refer to as a bearish ICT order block
17:48now every up close candle and every down
17:52close candle does not make a order block
17:55okay there has to be a context or a
17:58storyline behind why the price should be
18:00doing what you anticipate it doing in
18:02this case we think that the cell stops
18:04below the marketplace are going to be
18:06rated any time we see an up close candle
18:10smart money will be in that candle
18:13selling short but how can we use that
18:16information well this very next candle
18:20if you read the annotations on the chart
18:23here price actually returns back to the
18:25bearish order block low okay now what's
18:27the low of this candle right here price
18:29is returning back to it rate the time of
18:31this candle is closed it hits that low
18:34at that time that's a low risk entry
18:38despite trading lower initially we can
18:41wait for price to read trade back to the
18:43order block to get in if we know what
18:45we're looking for
18:46so this read trade back to the bearish
18:49order block is a low risk entry point
18:53now if the short is valid this up close
18:56candle will hold price below it until
19:00the targets are reached on this case the
19:02sell stops that we'd be talking below
19:04the equal lows now notice also in here
19:09as long as price is still above this low
19:13this setup is staged properly to reach
19:17for the liquidity pool below there's
19:18equal lows I noted a moment ago in the
19:20recording now as long as it's a boat
19:23above this low right here the setup is
19:26still valid but now I want you to think
19:28about this formation right here this
19:32candle already starts moving lower it
19:34went down to this point here and then
19:36started trading back up higher at that
19:38moment while you're watching price right
19:41in here that's when you time your entry
19:44notice that the candles retracing right
19:45back to the ICT bearish order blocks low
19:48that's this up close candles low that is
19:51exactly when your entries made at the
19:53market institutional traders will short
20:02during up moves now when price returns
20:05back to these up close candles we can be
20:07shorting it as well alright so now back
20:14to our example here if we see that we
20:19can find levels that have double tops
20:21and double bottoms in the market we'll
20:22want to go through them once this occurs
20:26chances are the markets going to go the
20:28opposite direction until it reaches
20:30another area of liquidity so the markets
20:33always gyrating back and forth back and
20:35forth
20:35seeking liquidity above the marketplace
20:37and below the market place below these
20:41equal lows there's a specific range that
20:43I look for it's 10 to 20 pips sometimes
20:46it can be as much as 30 pips but I give
20:48a working range of 10 to 20 pips so
20:51there's only two levels I'm looking for
20:52it's not a zone exactly 20 pips below
20:56that low at 118 84 it's one 1864 okay
21:02really simple specific price levels not
21:04zones not ambiguous areas to try to
21:06figure out what's going on it's exact
21:09it's a science we know exactly what
21:10we're looking for but the problem is
21:14what if we are expecting to sell short
21:16at that bearish order block at the low
21:18when it reads back to it does this offer
21:20potential for us to take a well we have
21:26an anticipated entry price at one 1891
21:31we have an anticipated 20 pip sell stop
21:34raid price at one 1864
21:37so no words we're anticipating getting
21:39in at one 1891 up here which is the low
21:41of this up close candle and we already
21:44know 20 pips below these lows the lowest
21:46of the to equal lows is what I use 20s
21:49below that that gives us a range low of
21:511 1864 so now we have 2 price points to
21:55determine whether there's enough of a
21:56range to make
21:57profit you take to these two numbers and
22:01you - them 91 from 64 gives us 27 pips
22:07so we have anticipated range for
22:09profitable movement of 27 pips
22:11that is enough to take the scalp now
22:16what I want you to do is I want you to
22:17watch me use everything that's used here
22:19because this is what was going on in my
22:21mind before I actually executed and why
22:24I took the trade okay folks we're gonna
22:32be doing a short and I'm waiting for the
22:40trade right back to the bottom of this
22:42candle here set the traits to 1 1891
22:47also short not in a hurry if it takes
22:53off without me that's fine but I'm
22:56trading the bear shoulder block in here
23:00all right folks so I'll be looking for
23:05that price at 118 91 as soon as it hits
23:09it at market I will go short now my stop
23:13has to be above the up close candle or
23:15bearish order block but because of a
23:17spread in this demo account it forces
23:19you to be 10 pips away so I'm just gonna
23:21elect to go with one 19154 my stop okay
23:27it's about there i fingers on the
23:32trigger
23:32I'll have to do boom okay now I'm short
23:37my stop is just below one 1915 and I'm
23:44focusing my attention right below these
23:46equal lows because I want to see a sell
23:48stop raid so I'm gonna put my
23:51delineation somewhere that would be in
23:53terms of targeting and just in case I
23:57had my limit order lower down to here
23:59okay so if it goes down to that low and
24:01it's not a stop run I have a limit order
24:05to catch any accelerated price movement
24:08but I'm really targeting that 20 pip run
24:10so I have three Lots short I'm watching
24:14price I want to see it trade below that
24:16short term low we're flirting with and
24:19then have a range expansion below there
24:22so this recording is actually sped up
24:25for time purposes but right now we're
24:28retesting the bodies of the candles in
24:29the previous short-term low and now I'm
24:31gonna be looking for expansion on the
24:32downside and it'll reach 10 pips and
24:36hopefully 20 pips it's about two minutes
24:38late from 8:30 New York time usually
24:41it's a big volume increase for
24:43volatility and I'm setting my order up
24:45to collapse
24:46two of the three standard Lots that I'm
24:50short on Europe and I'm watching waiting
24:53to see if price gets down to that second
24:55level or 20 pips okay it's already
25:00showing 10 pips up the decline as soon
25:02as it hits that lower level line I'm
25:04gonna collapse two of them there you go
25:06and move my stop down to +1 now I'm in a
25:09situation where I don't really care but
25:11look at the entry points zero heat
25:14no drawl down on that entry no drawl
25:17down whatsoever it was not chasing price
25:20so I have two of the three standard Lots
25:25banked and now I'm watching price later
25:27on and I'm gonna be looking to lower to
25:30stop-loss and I may get lucky here and
25:33see a run down to that limit order but
25:37always keeping in mind that it started
25:40to trade with the context of it being
25:42just a stop run one sell stops so I want
25:45to be mindful of how much the price
25:47shows a willingness to stall or not want
25:50to go lower and I'm watching price in
25:52here to do that so I've collected a
25:55small portion of the position also now
25:58here's the second time taking something
26:01off so a very small portion of the
26:04original three standard Lots one that's
26:06the small little fragment of the
26:09position price does one more attempt to
26:12break lower again now it's ten o'clock
26:18so time has passed about a hour and a
26:19half is going by and at this time I'm
26:23watching price I do not want to see it
26:24reverse or start to show a sign of
26:27rejection stop has been lowered to now
26:32I'm gonna be trying to lock in 20 pips
26:35with my stop-loss
26:37as it breaks down I will lower my stop
26:39so that way if it does knock me out now
26:41I have 20 pips locked in 25 pips is
26:44locked in now we're in an area where it
26:47could start to reverse it could fail to
26:49get down to that other limit order so
26:53I'm not gonna be able to move to stop
26:55because the spread won't permit me to do
26:56so so I have to either allow my stop to
27:01be hit or my limit order to be taken or
27:04I can collapse the trade now I was away
27:06from the computer here at the time but
27:07had I been there I would have been
27:09collapsing right now well ultimately
27:14price comes back up and it does in fact
27:17stop me out eventually as you'll see
27:24but I profited along the way taking out
27:27small portions because you never know
27:29you never know if it's gonna go down to
27:31your objective and if you've taken the
27:33risk on initially that risk needs to be
27:36reduced to a point of which where it's
27:39no longer impactful and there's my
27:40stop-loss
27:41being tagged and there is the fruits of
27:44that short very very predictable in
27:50terms of price action and not a bad
27:54little scout for a run on stops the
27:58context was there everything was
27:59outlined and you can see the post trade
28:02results ultimately later on you can see
28:06as we showed in the beginning the video
28:07your dog does vault up higher after
28:10running those stops hopefully you found
28:11this insightful until next time wish you
28:13good luck and good trading
28:22you

About this transcript

This page contains the full transcript of YouTube transcript (7WM8qdkanIY) , generated from the public captions YouTube serves with the video. The transcript has 4,365 words across 596 segments, with the original timestamps preserved so you can click any line to jump to that moment in the embedded player.

What you can do with it

Use the transcript to take notes, quote the speaker, build a study guide, generate a summary with ChatGPT or Claude via the YouTube Summary tool, or export it as a timed subtitle file with YouTube to SRT. You can also re-open it in the transcriber to translate the transcript into 100+ languages.

Free YouTube transcript tool

YouTube2Text is a free YouTube transcript generator — no signup, no daily limit. Paste any YouTube link and get the full transcript instantly, with timestamps, click-to-jump, translation to 100+ languages, AI prompts for ChatGPT, Claude, and Gemini, and exports to TXT, SRT, VTT, or Markdown.