Dumb Money Concepts - Failing to Gain / Lose Levels — Transcript

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1. 0:00All right, you pip squeaks. We're on
2. 0:02lesson number whatever it is. We're
3. 0:04going to talk about gaining, losing, and
4. 0:07failing to gain, fail to lose levels.
5. 0:09This is the most important thing with
6. 0:11dumb money concepts. The only thing you
7. 0:13need to to know is the levels we
8. 0:15identified in the last lesson, what
9. 0:17happens when price touches them, and
10. 0:19reacts to them, or goes beyond them.
11. 0:22Let's quickly dive into it. All right,
12. 0:24super super easy. All you need to do is
13. 0:26be able to recognize the levels, which
14. 0:28we already can, and when you see
15. 0:32a level test that, or the price test the
16. 0:35level, if it closes beyond it, it will
17. 0:37continue up. And if it doesn't, what
18. 0:39it'll do is go back to the level it just
19. 0:42came from,
20. 0:43and test it again. Because price can
21. 0:45only go two directions, right? There's
22. 0:47no such thing as sideways, and I'm going
23. 0:48to show you that right here, cuz that is
24. 0:50very much sideways, okay? But there's no
25. 0:53such thing as sideways. This is testing
26. 0:55up, and then testing down, testing up,
27. 0:57testing down, okay? So, what we do is
28. 0:59this is the origin of the move. It's
29. 1:01called an origin retest, okay? So, the
30. 1:03origin retest, we come back down, and we
31. 1:06test it again in an attempt
32. 1:08to break that level, okay? Once again,
33. 1:11we have attempted to break that level,
34. 1:13and we failed, cuz we haven't closed
35. 1:15beyond it. So, what are we going to do?
36. 1:16The exact same thing we just did, right?
37. 1:18We're going to go back up to the origin,
38. 1:20right? And we're going to attempt to
39. 1:22make a new high. We failed once again.
40. 1:24You can see the wick, we closed back
41. 1:26below. What does that mean? Means we're
42. 1:28going to go back to this low, okay? And
43. 1:30this is why I wanted to pull this
44. 1:31example of today, cuz this is literally
45. 1:33what I just traded. I literally just
46. 1:35traded this, and I made $3,800 on a
47. 1:37Topstep account today, doing exactly
48. 1:40this, okay? Okay, back and forth, we
49. 1:42just went back and forth. You attempt to
50. 1:44make the low, you fail,
51. 1:46you then go for the high, and you're
52. 1:47going to see what happens when we break
53. 1:49it, okay? We attempt to make a new high,
54. 1:51we fail, so we went for the low, okay?
55. 1:53Went for the low, fail, okay? Now, look
56. 1:55what happens when we So, we failed once
57. 1:58again, so we go to the new high again,
58. 2:00and we finally broke it, okay? So,
59. 2:02what's going to happen? We're going to
60. 2:03go to the next level up, okay? And
61. 2:05that's all you need to know in dumb
62. 2:07money concepts. If you break it, you go
63. 2:09to the next level up. If you fail, you
64. 2:11go to the next level behind. That's
65. 2:13literally it. I'm going to say it a
66. 2:14million times over cuz you're still not
67. 2:16going to get it. You're still going to
68. 2:17think it's more complicated than that.
69. 2:19But, what we do is we retest, okay? We
70. 2:21retested it. This is still a retest cuz
71. 2:23it's a wick. Still all of a retest. You
72. 2:25could have been adding, which I did,
73. 2:27bought there and bought there, okay? Cuz
74. 2:29we use our zones that we want to buy in
75. 2:31at, and then we continue to the upside.
76. 2:33Bingo bango, right? What's the next
77. 2:35level up? Do you not see how beautiful
78. 2:38this is? It is beautiful. Absolutely
79. 2:40beautiful. Oh, and by the way, you can
80. 2:42notice something here. We actually
81. 2:44failed to make a new high there. So,
82. 2:45what happened is we came back down to
83. 2:48the next level down, and we retested
84. 2:49that, reaccumulated, just so you know.
85. 2:51So, all these little nuances we're
86. 2:53throwing in. But, then we gained it
87. 2:54after that retest, and we go to the next
88. 2:56level, okay? Once again, look at this.
89. 2:59Where do we go when we fail? This is the
90. 3:02origin of that move, right? Look how
91. 3:03perfect that is. Do you not see this?
92. 3:05So, we failed, we go to the next level
93. 3:07back down, okay? Again, you can gain it,
94. 3:09continue to the upside, whatnot. The
95. 3:11only thing that makes this a little
96. 3:13confusing is balancing all of the time
97. 3:15frames together, okay? That's literally
98. 3:17it, right? And there was a lot of chop
99. 3:19today. It is a little bit messy. There
100. 3:20was a lot of news today. So, it's not
101. 3:23going to be 100% of the time, but I'm
102. 3:25going to say with accuracy, you could do
103. 3:27this 90% of the time. This is what I
104. 3:29trade, okay? 90% of the time. So, manage
105. 3:31your risk properly cuz you don't want to
106. 3:33just buy and then let yourself blow up.
107. 3:35But, 90% of the time, it's going to do
108. 3:38exactly what I just showed you, and I
109. 3:39just showed you 100% of the time, right?
110. 3:41Without cherry-picking. This is today.
111. 3:43This is literally today. Go back, test
112. 3:45it out for yourself. That's literally
113. 3:47it, okay? Let's look at regular sort of
114. 3:49progression, right? Let's go back to
115. 3:51what happens when you do gain and not
116. 3:52fail to gain. Every time you gain, you
117. 3:54can see that's your regular stuff that
118. 3:57everyone talks about. You gain, you
119. 3:58retest it, and then you go to the next
120. 4:00high, okay? This is stuff you should
121. 4:01already know. So, you gain it again, you
122. 4:03retest it, and then you go again next
123. 4:05high. You gain it again, you retest it,
124. 4:07go to the next high, right? Retest it,
125. 4:09and then when we break down, then that's
126. 4:11the downtrend, right? That's a
127. 4:12downtrend. So, you guys already know
128. 4:14that stuff, so I didn't focus on that. I
129. 4:15focused on the failures to gain. That's
130. 4:17what I want you guys to take away from
131. 4:18that. It's failures to gain. And make
132. 4:20sure you share this around. Start
133. 4:21trading dumb money concepts, and then
134. 4:23start tagging your boy, the founder of
135. 4:25Maven, Hunter. That's my name. Anyways,
136. 4:27guys, that's all.