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YouTube transcript (B7_cjybYQ0g) — Transcript

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0:36okay folks welcome back
0:38this is the third teaching of a series
0:40of eight for the first month of the ict
0:43mentorship
0:45okay we're going to continue continuing
0:47on our theme of understanding the
0:49mindset that you have to have
0:51going into the marketplace looking at
0:53things in a little bit reverse order
0:56then you're normally taught from a
0:57retail perspective
0:59and this is one
1:00this is one of those teachings that
1:01you're going to have that if you're new
1:04you actually have the advantage here
1:06for folks that have been trading for a
1:08while that
1:10have adopted bad habits or
1:12an understanding or a belief that they
1:14have an understanding
1:16it's going to be a little bit expensive
1:18for them because they're going to have
1:19to
1:19purge some of the things that they
1:21either subscribe to or
1:24wrestle with it until they either do or
1:27elect not to use this insight at all
1:31i mapped out a
1:33a crude depiction here and i've been
1:35using it for months actually um as a
1:37teaching tool
1:38but we're gonna really hammer it down in
1:40this mentorship because it's imperative
1:42that you know
1:44how we as
1:46traders are supposed to be viewing
1:48marketplace uh data delivery um
1:52reverse psychology
1:54whatever the psychology of this
1:57informed money is
1:59it's going to be diametrically opposed
2:01to that of the uninformed or speculative
2:04money or quote unquote dumb
2:07and when we have these ideas when we
2:09look at price okay the first thing we
2:11have to do is establish
2:13who is the victim here you know
2:15generally there's a victim always in
2:17every crime
2:19and
2:20the perspective that the speculative
2:22uninformed money has
2:24is that number one they don't
2:26acknowledge that there's a smart money
2:28there is not an entity out there that
2:30has uh quote unquote the right things
2:33always on uh the right perspective
2:36or that a market is rigged or controlled
2:39or manipulated or has any influence over
2:41long-term price delivery
2:44the uninformed money
2:46okay or
2:48those that are uninformed in regards to
2:50how smart money actually operates and
2:52exists in the in the marketplace their
2:55actual perspective really is that
2:56indicators are the answer
2:58and uninformed money their perspective
3:01holds
3:03belief that
3:05price moves by indicators influence okay
3:07and the influence of an indicator being
3:09overbought or sold that is what the
3:12precursor is to a market moving higher
3:14or lower and i can tell you i subscribed
3:17to that for years as a new trader and it
3:19took a long time for me to actually be
3:22broken away from
3:24that type of mindset
3:26so if you're new and you haven't been
3:28exposed to indicator itis and you're not
3:30infected with that yet you're actually
3:32pretty good uh in in terms of advantage
3:35uh those that like
3:37to use it indicators are going to have a
3:38little bit of a
3:40struggle with this mentorship because
3:42i'm telling you basically you need to
3:43get that out of your system get that off
3:44your charts because it is not how you're
3:47going to be able to see smart money in
3:48fact we're going to be able to use these
3:50indicators to be
3:52uh informed as to what the uninformed
3:54traders are actually uh thinking so when
3:56we talk about sentiment next month
3:58you'll have a lot more understanding
3:59about what that is how it's developed
4:01and what you can do with it
4:04now
4:05obviously we only exposed one side of
4:07the the paradigm here by
4:09specifically dealing with the
4:11speculative uninformed monies
4:12perspective uh you're not here to really
4:15so much learn about those individuals
4:17because obviously no we all know that
4:18there's a losing crowd in the
4:19marketplace and your idea
4:22of uh you know being a part of that
4:24group is foolish so we're here only to
4:26focus on what the smart money view is on
4:28the marketplace and that begins by
4:31understanding that there is a huge vast
4:34enormous
4:35new pool of liquidity coming into the
4:37marketplace every single day
4:40even though there's new busted accounts
4:42all the time the statistics stated tell
4:44us that 90 of traders lose their money
4:47large funds are in the same category not
4:49every fund is profitable just because
4:51there's a lot of people that are
4:52investing money into this fund or this
4:54fund manager does not no way guarantee
4:56that that fund will exist a year two
4:58years five years from now
5:00so we as
5:02informed traders our perspective is to
5:04hold the perspective of what a liquidity
5:07provider or smart money view is on the
5:09marketplace and they put a spotlight on
5:12the aspects of uninformed money because
5:15that's what makes the world go around in
5:16the marketplace the smart money is there
5:19to provide liquidity but they're doing
5:21it at a exchange premium
5:23in other words they're putting in in
5:25trades that they're gonna most likely
5:28come back to to either offset or
5:31neutralize for their
5:33interests and we'll talk more about that
5:35as we go but for now understand that the
5:37smart money knows in fact that there is
5:39a large body of uninformed money out
5:41there contrast that with what we spoke
5:44of concerning the uninformed money's
5:45perspective is there's a lack of an
5:48entity out there that has a smart money
5:50perspective on the price they don't have
5:52an opinion or
5:53an idea based
5:56uh perspective that there is someone or
5:59some entity or entities out there that
6:01have a smart money perspective
6:03or that the banks would actually
6:05you know trade against
6:07large uh firms or funds that that goes
6:11against the grain of what a free market
6:12is
6:14so when we have a smart money
6:16perspective in the marketplace we
6:18actually use
6:19their perspective as everybody else is
6:22liquidity
6:23and price is delivered to engineer
6:25efficiency for the smart money entities
6:27only
6:28it's not anything outside that
6:32so to hold the perspective of a
6:33liquidity provider you are adopting a
6:35smart money perspective and everybody
6:37else
6:38is liquidity
6:40and the liquidity is going to be in the
6:41form of buy stops sell stops pending
6:44orders above and below the market highs
6:46that are most recently
6:48formed on your charts
6:52once we understand that there's two
6:54distinct perspectives that's what
6:56creates the market efficiency paradigm
6:58both of
7:00both groups okay have
7:02their individual perspectives
7:04the one that is smart money they have
7:07the unique perspective of understanding
7:08already what the uninformed money is
7:10going to believe about the marketplace
7:12and that gives them their edge on top of
7:14that they're actually in control of
7:16price just like anything else if you own
7:18a storefront or if you're owning a
7:20business and your commodity is sold who
7:23sets the price for that commodity you
7:25you're the store owner well currency is
7:28owned by the bank and they set the price
7:30on the value of that bank note or that
7:33digit on your screen that says you have
7:34xyz number of dollars in or francs or
7:38pounds or whatever it is that you're uh
7:40you measuring your currency in
7:43that's east that value is set by the
7:46central bank that has printed that money
7:48and why this is such a uh
7:51speed bump for people's understanding
7:53is beyond me because if you look at the
7:55state of the world we're in right now
7:56obviously corruption and deceit is the
7:59name of the game so
8:00it's not a shock to hear if you first
8:03time being exposed to this that the
8:04central banks are in absolute control of
8:06what their price of their currency is
8:08and they can set it at any time at any
8:10price they want don't believe me look at
8:12what they did with the swiss franc and
8:13the euro when it was d-pegged
8:15instantaneous wipeout okay
8:18so once we understand both perspectives
8:21okay intimately okay we no longer have a
8:25at odds
8:26perspective on the marketplace we don't
8:28vilify the market maker we don't vilify
8:30smart money we don't beat up or
8:33make fun of the uninformed money in fact
8:36what we do is we find a balance in
8:38between that and we don't think in terms
8:40of victim or aggressor we just think in
8:43terms of efficiency because the markets
8:45are always going to trade in an
8:46efficient manner but it's slanted and
8:49more prone
8:51to lace the pockets of the smart money
8:54because they have the advantage of
8:55pricing wherever they want price to go
8:56to and they already know what the
8:58perspective is of the uninformed money
9:00and they also know how to manipulate
9:01that perspective at any given time based
9:04on chart patterns based on indicators
9:06based on just reactions to market news
9:13now as we go through this mentorship
9:15we're going to be focusing primarily on
9:17your understanding of these four primary
9:20drivers in price delivery it's
9:21retracement expansion reversal and
9:24consolidation now we're not going to
9:25talk specifically about that but i want
9:27you to understand that all the things
9:28we're teaching here they're all
9:29frameworks for you to understand those
9:31four general principles
9:34we can't
9:35teach specific
9:37contexts or
9:39topics without having a broad based
9:41understanding of foundation and that's
9:43what this entire month of september is
9:45doing it brings everybody to a reference
9:47point to start at the same location some
9:50of you that are advanced that watch a
9:51lot of my free tutorials over the years
9:53you need to put that aside for a moment
9:54and start with this perspective in mind
9:56and i promise you it's going to deliver
9:58everything that you skipped over we're
10:00going to fill in all those gaps
10:02but understanding that the interbank
10:05price delivery algorithm okay to
10:07understand that it's going to have to
10:09come by exposure and exposure creates
10:12experience that experience is going to
10:14give you the understanding going into
10:16the charts seeing what they ex what they
10:18should be doing with price what you
10:20should be seeing in price
10:26by seeing each individual component
10:30explained in detail and context
10:33each individual part or component of the
10:35hole will be able to dovetail nicely and
10:38you'll understand how everything fits
10:39together but suppress that desire to
10:42feel like you have to have techniques
10:43and and
10:45patterns and
10:46intricate secrets about how the chart
10:48does this or chart does that
10:50you have to have the framework in mind
10:52and the foundation of why these things
10:54exist otherwise all those little things
10:56ain't going to make any sense to you
10:57when i'm calling on you to refer to them
11:03so with all that
11:04what specifically should you be focusing
11:06on right now as a new student in this
11:08mentorship
11:09the first thing you need to know is
11:12there are
11:13very little things you should be
11:15bringing into your expectations and what
11:18your
11:19understanding should be
11:21in other words basically what i'm saying
11:23is you need to have
11:25no previous knowledge brought in with
11:28this
11:29kind of like put everything aside and
11:31assume it's very difficult for those who
11:32have already gone through
11:34different disciplines of trading
11:36because they have to try to forget what
11:38they already know
11:39and even if they've made money with it
11:40which is the worst thing that could have
11:41ever happened is if anything outside of
11:45institutional order flow led to your
11:47profitability it really was just
11:49coincidence and coincidence can happen
11:51for a long time i did it for nine months
11:53and was all pure luck and then it no
11:55longer worked again so
11:57understanding right now what it is
11:59specifically you're supposed to be doing
12:00that's important as a new mentor student
12:03the first thing you need to be doing is
12:05creating a daily price action log with
12:07price charts
12:08now i know some of you don't want to do
12:10this some of you have resisted me uh
12:12telling you for years to do this but i'm
12:14telling you you all are here and you've
12:16paid for this mentorship you paid for
12:19the understanding and expecting
12:20experience that i've gained over the
12:22last 23 plus years
12:24i can tell you
12:26how i got it was doing the very things
12:28i'm going to tell you to do in this
12:29specific video it starts here if you
12:32skip this video if you skip what i'm
12:34teaching you in this video if you ignore
12:37what i'm telling you what to do in
12:38regards to what specific things you
12:40should start with right now it does not
12:43mean okay just because you've been
12:44trading longer than anybody else and
12:46because you have i understand what
12:47optimal trade entry is because you
12:49understand what an order block bullish
12:50embarrasses before because you
12:52understand what a liquidity void is that
12:54is not an advantage okay you need to go
12:57back to square one and understand that
12:59this is strength in your development if
13:02you don't do these types of things
13:04you're actually going to hurt your
13:05development you're going to hurt and
13:06stunt your growth throughout this
13:08mentorship
13:09so
13:10go back to square one you're the new
13:11student do everything that's been
13:13described here and advise because this
13:16is where the money starts coming in if
13:18you have these things in place and you
13:20start right at this very core principle
13:23it will develop we're going to be
13:25focusing on this throughout the entire
13:2712 months every month we're going to
13:29build on what rules and what things that
13:31you're supposed to be looking for in the
13:32charts but for right now primarily the
13:34only thing i want you to be doing is
13:36starting with a daily chart
13:38okay your daily chart needs to show 12
13:40months no less than nine months view you
13:42have to have that much perspective on
13:44your chart don't have so much of a
13:46perspective you have multiple years on
13:48your chart
13:4912 months to nine months ideally
13:52okay you have a four hour chart and your
13:55four hour chart needs to have three
13:56months of price action viewed
14:00the 60 minute chart or one hour chart
14:02has to have at least three weeks view
14:06and the 15 minute chart needs to have at
14:08least three to four days view that means
14:10for every chart here i'm recommending a
14:12specific amount of data that needs to be
14:15displayed for that respective time frame
14:19what you need to resist doing right now
14:22is you need to resist the urge to
14:23forecast price movements that's not for
14:26your stage of development right now
14:28do not try to rush ahead and try to
14:30figure out what the market's going to do
14:31next because that's going to be a
14:32problem for you and it's only going to
14:34lead to frustration we will get you
14:36there and it's going to happen in due
14:38time but for now resist that urge but
14:41there are some things you need to be
14:42specifically dealing with these charts
14:45you need to note where
14:47price shown a quick movement from a
14:49specific level in other words if it's
14:51run quickly higher or lower from a
14:52particular level that's noteworthy you
14:55need to note that on your chart you need
14:56to also note recent highs and lows that
14:59haven't been retested that means if a
15:00high's formed on your chart if the price
15:03has not come back up to that level in
15:05recent time okay you need to make a
15:06special note of that because it's going
15:08to probably be influential going in the
15:09future vice versa just contrarily
15:12speaking you're going to be able to look
15:13for the lows that have formed that have
15:15not been recently traded to and that low
15:17will be influential later on in future
15:20price delivery as well
15:23note areas on the charts where price has
15:25left clean highs and clean lows
15:27basically that looks like two equal
15:29highs that formed in
15:30close proximity to one another um
15:33when we whenever we see a high go
15:36up and form and then it trades away from
15:39that for a little while and comes right
15:40back to it and doesn't make a new high
15:42or maybe it falls just a little bit
15:43shorter just a little bit above it
15:45i note that as a clean high and usually
15:48buy stops will form above that and the
15:50market will usually come back up there
15:51and run through that
15:53it doesn't mean it won't continue
15:55through it but it's usually a big
15:57bullseye for a price to want to go up
15:59into that area and the reverse is said
16:01for double bottoms or equal lows when a
16:04low is formed and another low is equally
16:06formed in close proximity to the initial
16:08one
16:09that's a big area for sell stops to pull
16:12or build up underneath those lows and
16:14the market tends to have a willingness
16:16to go down there and test that liquidity
16:18that means the market will go down into
16:20that area whether it continues to go
16:22lower or if it goes down and then
16:23reverses there's conditions that we look
16:25for to frame all that and you will know
16:27when to expect the specific conditions
16:29but for now i want you to start
16:31practicing looking for that in your
16:33charts and having them noted on your
16:34chart
16:36note what days the highs and the lows
16:38form
16:39and
16:40this is for the weekly range and you
16:41want to know what time of day that
16:43occurs what kill zone is it the high and
16:45low of the
16:46week forming in london or is it forming
16:49in new york because all those things are
16:51going to lend well to
16:52prognostication and what should happen
16:54going forward
16:56and you want to note the daily high and
16:58the daily low every single trading day
17:00and you want to note when the daily high
17:02and the daily low forms for every
17:04individual
17:06uh trading day
17:08now what does that look like well it
17:10starts off with a bare bones chart this
17:11is a daily chart and i'm using the swiss
17:14franc here it could be any chart any
17:15pair but you want to start with one
17:17currency pair and then it's mentorship
17:19you want to specifically deal with one
17:21i would recommend you doing something
17:23apart from the british pound and the
17:25euro only because you're going to see me
17:27specifically dealing with that
17:29in this individual mentorship but you
17:32want to be doing something with a
17:33currency pair that is not being utilized
17:35in this mentorship that way you're
17:37getting a unique perspective that you
17:39yourself have arrived at
17:41using this as a guideline
17:43but the first thing you want to do is
17:44obviously note the most recent highs in
17:45the recent lows where markets have
17:47shown a willingness to repel from that's
17:50the first thing you want to note because
17:51this is how you identify order blocks
17:53this is how you identify liquidity voids
17:55this is all the beginning frameworks of
17:56that but you need to be able to note
17:58those recent highs and recent lows
18:00that's what's been done for you here
18:04next you're going to drop down into a
18:06four hour chart and those same levels of
18:07this noted on the daily chart are shown
18:09here
18:10and there's more highs and more lows
18:12that come into visibility by doing a
18:15lower time frame perspective we went
18:17from again
18:18the chart was a daily chart before
18:21now we're looking at the same levels
18:22just
18:23drop down into a four-hour chart those
18:25levels will be transposed immediately to
18:27what the four-hour chart shows then you
18:30go through doing the same thing you're
18:31looking for areas where it's too clean
18:33equal highs and equal lows and close
18:35proximity to one another and you look
18:37for where the market has moved quickly
18:39away from a particular level when it
18:41creates these real big candles or bars
18:44okay on your chart you want to note that
18:46because they're going to be influential
18:47in your expectations of where price
18:49should go and where they should not go
18:53you're going to go down to an hourly
18:54chart okay an hourly chart you're going
18:56to be looking at
18:58individual
18:59days okay over a course of one or two
19:02weeks and
19:03you can get the weekly range
19:05defined with the hourly chart and you
19:07can look at the intraday highs and lows
19:10with an hour already charge a really
19:11good bellwether chart if you're a
19:12short-term trader or a day trader that's
19:15like the daily chart for uh you know the
19:17barometer whether you should be a buyer
19:18or seller and we'll teach all those
19:20things all those instant details will be
19:22taught in this mentorship for now you'll
19:24be taking all those levels you found on
19:25the daily chart the four hour and
19:26transposing those to an hourly chart
19:29now you want to keep this chart
19:32okay in this format
19:34separate from all the other charts that
19:36i'm going to talk about now okay
19:37anything else we talk about in terms of
19:39what we're specifically looking for
19:41they don't get utilized on the same
19:43chart you create another chart so you're
19:44going to have two individual independent
19:48us swissy
19:50charts okay but you're going to carry
19:51the information on two separate charts
19:54that way you don't have charts that are
19:55too busy have too many things on there
19:56and you get confused and all kinds of
19:58things that we're worrying about then
19:59you'll kind of create another swiss
20:02franc chart okay and for that you're
20:04going to use a 15-minute chart and when
20:06it's loaded obviously it's going to be
20:07naked bare nothing on there and the
20:0915-minute chart looks like a lot of
20:11noise it doesn't give you any
20:12perspective without any frames of
20:13reference and you want to take
20:16the course of action we talked about
20:18using the daily the four hour in
20:20one hour chart do that same thing with
20:23the
20:23individual 15 minute chart but you only
20:25need to be applying it to the last 15
20:27i'm sorry last
20:29three days three to four days and using
20:31those reference points in the last three
20:33to four days on a 15-minute chart
20:35okay you're gonna be looking at also the
20:37daily highs and the daily lows and you
20:40can see this is how i do my charts on a
20:4215-minute basis you're actually going to
20:43see me actually do this very practice
20:45every single day going forward starting
20:48with this week that we're going to enter
20:49into the mentorship
20:51i note the previous days highs in the
20:53previous days lows and then draw them
20:55out to where zero gmt is which is eight
20:58o'clock in that evening time in my time
21:00frame and in this delivery
21:02of data with this platform
21:04this is how i know my daily highs and
21:05daily lows it's important to note also
21:08the days of the week now i'm not going
21:10to give you all the specifics here
21:12because you're actually going to be
21:13watching me do it on a day-to-day basis
21:15so you'll be able to get a rough idea
21:17in this tutorial but more specifically
21:20you can actually see me actually
21:21creating documents
21:23for my individual
21:25record keeping so you're going to see
21:26actually how i do my charts how i log
21:28them and yes even after 23 years of
21:30trading i still do this
21:32it's important to do it it's
21:33understanding it's clarity it gives you
21:35perspective and it's what professionals
21:38do sorry it's just there's no way around
21:40it the folks that are really
21:42concerned about the market they have
21:43logs they keep journals these are the
21:44types of things they do
21:46if you notice real quick why noting the
21:48previous day's highs in previous days
21:50lows if you look at wednesday's data
21:53okay
21:54you see the little
21:55delineation where it says wednesday if
21:58you look at the previous day obviously
21:59it would be tuesday in the course of a
22:01normal week
22:03the high that was formed on tuesday
22:05on wednesday price came right up there
22:07and ran through that around the 97 90
22:10level
22:11uh notice it did not continue through
22:12that it just went up through the
22:14previous days or tuesday's high
22:17then it sold off
22:18when it sold off
22:20it went all the way down where did it go
22:22down to just any old level it went down
22:23to tuesday's low just breaching it by a
22:26pip or two and then came back off into
22:27consolidation
22:29then look at what happened on thursday
22:31thursday we had price retraced back into
22:33the range that was created from
22:35wednesday's high down into wednesday's
22:38low
22:38thursday starts today with trading and
22:40consolidation it rallies up closes in a
22:43range
22:44okay that was formed from wednesday's
22:47high and wednesday's low then it sells
22:49off and where does it sell off to
22:51moving just below
22:52then it pulls off that low and goes into
22:55consolidation
22:56then we have friday
22:58the market just goes straight on up
23:00rolls right on through
23:02thursday's high
23:03and creating a new high prior to friday
23:06the weekly high was formed on wednesday
23:08it ran out the stops and all the
23:10liquidity that would be resting above
23:12wednesday's high
23:13all done on friday so we're going to be
23:16using these reference points and giving
23:17you a lot more insight
23:19about specifics and what you're doing
23:21with it but for now i want you to know
23:22that this is what you're going to be
23:23doing
23:24going forward every single trading day
23:26you're going to document price action
23:28you're going to build on your
23:29understanding
23:30every month i give you more reference
23:32points to add to your charts and why
23:34it's important what specific what the
23:36information will do for you what uh
23:39with advantages it gives to you by
23:41having it and
23:42by having your charts very uniformly
23:45organized like this
23:46when you're trading
23:48your chart is going to have its
23:50independent uh analysis you're not going
23:52to have all these things on your chart
23:54but these charts are always going to be
23:56referred to while you're watching price
23:57because
23:58by having three charts okay because
24:01you're gonna have one that's executable
24:02in other words what you're watching on
24:03the setup right now because you never
24:05want to marry the ideas that you have in
24:07your analysis you need to reflect on
24:09them but you don't want to be so cast
24:12iron can't do it any other way it has to
24:14be that way otherwise if you're watching
24:16real-time price action if you see
24:18something that doesn't make sense for
24:20what the underlying conditions that
24:21you're expecting occurs in the
24:23marketplace
24:24you won't have the flexibility to switch
24:26gears or go to the sidelines you'll just
24:28hold on to the market with strong
24:29conviction and that that's imposing your
24:32will that the market's going to do what
24:33they're going to do and it's not going
24:35to happen because you want it to happen
24:36it's going to happen because it's going
24:37to happen and we try to get in sync with
24:39what the market's going to do whether
24:41it's going to be moving sideways whether
24:43it's going to go higher whether it's
24:44going to lower we don't know any of
24:46those uh directions with a great deal
24:48of certainty we just know probabilities
24:51and but we know how to go into the
24:52marketplace looking for these types of
24:54things over and over and over again they
24:55repeat and you'll be able to find those
24:56repeating
24:57uh occurrences in price action after
25:00going through this mentorship

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