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My 1-Minute Chart Scalping Strategy (Works In 2026) — Transcript

by Etienne Crete - Desire To TRADE · 6,603 words · 656 segments · language en · Watch on YouTube

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0:00Figure out a way to come back, you know, remain stoic, keep a smile on your face,
0:07and know you're gonna figure it out one way or the other, come hell or high water.
0:11The market is out to make money.
0:14It's not out to give it away.
0:15And so you have to protect your downside before you shoot for the million bucks.
0:20- I'm sitting down here today with Jean-François Boucher.
0:25We didn't have a talk in a while about scalping in the market,
0:27so we thought it would be good to bring him back.
0:28With this new year, kind of discuss about what he's doing in scalping,
0:31and a bit more about how you can use it to fund your lifestyle.
0:34So, good to sit down and look forward to see what you got for us today.
0:38- This is the end of the year.
0:40It's the end of the quarter.
0:43It's the end of the month coming up in about two weeks.
0:46It's the end of 2025, so it's a good time to go back and review,
0:51and if required, maybe even reset going forward.
0:56And so a couple of days ago, I was hosting another training
1:01session with the group, and we reviewed a couple of slides,
1:05and so it was a good reminder for today's session.
1:09Looking at the month of November, in this current account,
1:15we managed to extract from the market about $5,500.
1:19And then if I look at the current week, so going from
1:25November to December, the current week is up about $1,000.
1:30If I look at from the current week to today, today I made about $600,
1:37and as we speak, there's still a float of about 875
1:42between the current price and where my break even is.
1:47And so a lot of the strategy revolves around targeting that white line.
1:54So when you feel the heat coming down,
1:56when you think your trade may have been compromised and you'll want a quick exit,
2:02instead of looking for the price to reach the actual target,
2:06you sometimes are better off just exiting at break even and neglecting the rest.
2:14Just forgive it and move on.
2:18And so the idea of that white line is what we try to control.
2:25We have 16 clicks.
2:27The intent when we start is not to use all 16.
2:32We want to use as few as possible, but we're allowed to use 16 if required.
2:39And it's not Willy nilly.
2:41It's distributed over time based on price action like we saw
2:46here this morning during our normal two-hour trading session.
2:51So during our two-hour session this morning, we assumed
2:56a bullish bias based on what we saw on the daily candle.
3:01And so I started buying, testing for support.
3:05We bought on that green candle here and made money hours later.
3:12So we tested support.
3:16The assumption was correct only hours later.
3:21So ideally I would have bounced immediately into three pips.
3:26What happened is our test of support, although it was
3:29right in the long-term, was wrong in the short-term.
3:33And so that forced me to use click number two
3:36and click number three and click number four, five, six, seven.
3:42Ultimately, I think I clicked eight.
3:45There's two on top of each other here.
3:47And so I managed to squeeze in eight clicks in three boxes.
3:52Ultimately, I avoided using all 16 clicks.
3:59The move that I was looking for, the bounce off
4:03of support, came in off of support from over here.
4:07- Just want to maybe make clear for people,
4:08like a lot of people think that when you add
4:10click, you're just adding risk to your trades.
4:12You're actually like using risk in a very smart manner.
4:14Do you want to kind of walk through how you use risk for those trades?
4:18- Yeah, so those 16 clicks, I forget not everybody is familiar with the thesis.
4:25The 16 clicks are made up of small individual trades.
4:31And each individual trade is one quarter of 1%.
4:38And so the idea behind this strategy is we're measuring a current move.
4:45So when I started, I was measuring from the high down to where we were.
4:50And this happened to have been about three boxes.
4:53And so I'm expecting a quarter of a percent per click,
4:59and I'm expecting to put four clicks per box.
5:03So I already measured when I started a three box move.
5:08And going forward, I'm now thinking I'm willing to spend up to four clicks per box,
5:15up to four boxes worth, in order to find the bottom of this move here.
5:22Right, so I'm willing to play another four boxes below when I started.
5:29So 16 clicks worth.
5:31I did fall in four boxes, I would have spent 16 clicks.
5:39It only fell two boxes, and I only used eight clicks.
5:44So in total, I spent 2% of my account to build this position right here
5:51between this red line and this low down here.
5:55So I started on the red line, eight, 10 o'clock Eastern.
6:00I started layering a position.
6:04I'm willing to use up to 16 clicks.
6:08And today I was only required to use eight.
6:11And the move that I was looking for eventually showed up.
6:15Right, support was located right on the inside, inside swing.
6:24Right, so if this had failed to support, we would have
6:28been testing the outside swing with maybe four more clicks.
6:34And then if that had failed, we would have been
6:39last attempt looking for four more clicks in here.
6:42Right, so ultimately what we're doing is we're targeting the next move.
6:49We know we're in the right ballpark.
6:52We're just trying to use as fewer clicks as possible or as
6:56fewer click as required to find the bounce that we're expecting.
7:01Right, so it's kind of, we know we're in the right area.
7:05We know what should be coming here based on time of day and our top-down analysis.
7:10And because of that, we're distributing some risk to find that next move.
7:16That next move is our postponed gratification.
7:21Right, that's when we get paid.
7:23And so you can see here this morning, I had eight clicks.
7:27They closed partially here, some of them closed.
7:31And I ended up reopening some of them on the way up.
7:35So I managed to keep eight clicks open after eight clicks were already closed.
7:41And here I am now holding eight clicks that are pending the target.
7:49Right, so for how many minutes now?
7:53Since I finished trading my two-hour session,
7:57I've had eight clicks open for 497 minutes,
8:04waiting to get about 14 pips away from where we are right now.
8:12All right, so we've been going sideways.
8:15Oh, this box is the wrong size.
8:17We've been going sideways for one, two, three, four, five, six, seven, eight.
8:27If we push everything properly, it's no, eight hours.
8:34And so we're now waiting for a break out of this range.
8:37Clearly we're in a range, right?
8:39We're just going sideways.
8:40And we're waiting for this next move up.
8:46Okay, so as the price retraces back to where we came from, hopefully,
8:52it will gratify the trades that have been open earlier.
8:57- What's telling you that the price will go up from there?
9:00What's the indication that it will go up and not down from there?
9:03- Well, the probability remains open from this morning.
9:07Right, so I started with my top-down analysis this morning.
9:11Avoid, ignore the green candle, it wasn't there yet.
9:15Right, so this morning when I started at 10 o'clock Eastern,
9:19the daily candle was still green and we were hovering around here somewhere.
9:25And I suspected we were testing for support in this zone.
9:29And so I started buying on the way down
9:32and tested for support is what happened.
9:37Support came about and we bounced from this low to where this green candle opened.
9:44Right, so the long that I was shooting for was from here to there.
9:50It gave us 16 pips.
9:53And that 16 pips, if you come back tomorrow and look
9:58at this daily candle, this will either have been a wick
10:02or it will have been swallowed up by the daily candle.
10:06And so the 16 pip move that we've just experienced
10:10right here, I'm kind of hoping extends a little bit further
10:14to pay out these trades that I opened this morning on the way up.
10:20Right, so the trades that are remaining were opened right here on this up leg.
10:27And if we hold support, which we have once, twice,
10:32three times, we seem to be heading in the right direction.
10:39And so if push comes to shove, if I feel
10:42compromised, I'll just take my 36 pip ejection seats
10:47and tighten them up so I don't end up losing 36 across eight trades.
10:56So every click I take starts out with this ejection seat built in.
11:02So now I'm just tightening up all of the stops for all eight
11:08trades to the previous or to the most recent swing low.
11:13So I'm kind of hiding my stops behind the swing.
11:18And if it keeps going up, I'll be closing the trades in the money.
11:23If it comes back down, it may or may not threaten my stops.
11:26We'll see.
11:28Right, but ideally what we've done just now is reduce the risk that we're exposed to.
11:33So it's not abnormal that I trade counter trend, but it's not my main objective.
11:44Right, so when everybody sees red, red, red, red, red,
11:48and then you watch me buy, buy, buy, buy, it brings about a lot of inquiries.
11:56A lot of people wanna know why.
11:59And if you go back and look here, it's kind of self-explanatory.
12:05The very first trade, or actually perfect example right here.
12:09It's a down leg, and I already, from my top down
12:14analysis, figured out I wanted to be a buyer.
12:18And so right here might be support.
12:21And as the price approaches that support, as a buyer, I wanna buy support.
12:28And so here I am buying a green candle in a down leg, right?
12:38I should have bought the red candle before, which I did.
12:42But ideally this right here should have been right there on that red candle.
12:49And that would have paid me out on the green candle.
12:53What you see here is me being late 30 seconds or so,
12:58and getting paid the next candle over, right?
13:03So this one trade right here should have been one
13:07candle earlier and closed on that first green candle.
13:11Hence we buy the red on support.
13:16Let's see if there's another one right here.
13:19Right, so right around here, we tested resistance on the way up.
13:27We tested it again as support on the way down.
13:32And I bought it when this was a red candle
13:36and it closed on itself when the red candle turned green.
13:41And so we're buying because it's the best price in order for the bounce.
13:46Okay, so most folks will wait through that confirmation.
13:51I'm trading ahead of the confirmation.
13:55I'm trading the probability, okay?
13:57So ideally when things flow well, maybe if I go back to
14:03my current week, I think on Tuesday I booked some losses.
14:08So on Tuesday, same idea.
14:12When I started at eight o'clock,
14:15similar concept, I was bullish and I wanted to buy support.
14:19And here support failed and I'd already determined where my risk was going to be.
14:28I'd already assumed where my risk was.
14:35And at the time in front of the group,
14:38we told ourselves the risk was going to be below this, this low over here.
14:43Sorry, I didn't want that.
14:45Risk was going to be below this low right there.
14:49And so as we're trading, we're buying support,
14:54buying support, buying support, buying support.
14:57So we're buying red candles off of support areas.
15:02And what we assume on the left was resistance in
15:07the past, we're testing it as support over here.
15:13And then lo and behold, because of the ADR,
15:18how much we had already done in previous 16 hours.
15:22So I trade the top of the daily candle, the remaining eight hours of the day.
15:28When we looked at the ADR right here at 10
15:31o'clock Eastern, it had already been fulfilled.
15:35The average daily candle was already at its full average.
15:41And so I started to doubt my buying the top of the candle.
15:45I started thinking, okay, it's the probability
15:49of it going further than its average is limited.
15:54And so I said to myself, it's probably not good if we revisit this previous range.
16:00And so we called it in front of the group, right?
16:05If we make a lower low below this, so we're now inside of this previous range.
16:13If we go below this, we probably don't wanna be
16:19long anymore and start aiming for shorts instead.
16:22And sure enough, we played the long side, played the long side, played the long side,
16:30and then a bunch of red candles showed up, boom, boom, boom, boom, boom,
16:34took us below the low and we closed all the longs remaining manually.
16:40That day ended up putting me in the hole about $900.
16:44Eight trades closed at 12 pips.
16:49I guess we can probably see it here, right here.
16:54And so all these trades at once, closing all
16:57at once, this is what we ended up with, right?
17:01Booking losses, boom, boom, boom, boom, boom.
17:04But immediately thereafter, when I came back to work on Thursday,
17:09actually I did a little bit more that afternoon, but when I came back on Thursday,
17:14we just continued with three pips, three pips, three pips.
17:17Right, so no revenge, no glory trade, no swinging for the fence post, nothing fancy.
17:27And you just, if you fall off the horse,
17:29you just get back on the horse and you continue to trade.
17:32Moral of the story is your job is not to recover losses.
17:37Your job is to recover your discipline
17:40and consistency will return when execution is respected.
17:45So if you go back to your model, go back to your plan,
17:48go back to your original strategy or thesis, stick to what you know works,
17:56make three pips at a time, if that's what your
17:59model says, and you'll be back on track in no time.
18:03Right, so we book losses on Tuesday and the week remains solid green.
18:09And so I'm not to compromise.
18:14I just, you have to let go of that losing balloon and move forward with your life.
18:21You know, the balloon's gone, forget it.
18:23- The mindset that you come into the next
18:27day after a loss is kind of hard for people.
18:30Like if you have lost trades that day, then you come in the next day,
18:33you almost want to kind of change your target.
18:36So you want to risk more, you want to try to get back on track.
18:39Like that kind of mindset is very tough to avoid.
18:43- Yeah, and psychology that drives this, usually if you get out of bed
18:51and you think today is going to be just, you know,
18:53a nightmare like yesterday was and the day before,
18:56if you think every day is a nightmare, today will become a nightmare.
19:00And so if yesterday was a nightmare, don't think about it today, let it go.
19:08Let go of the balloon.
19:10You're only losing pips, right?
19:14The problem is you're attached to those pips
19:16because to you it means dollars and cents.
19:19And in reality, it's what brought you here in the first place.
19:26So instantly that loss makes you feel like a failure.
19:29No, that's what brought you here to make money,
19:33but apparently I can't make money, so I'm a big loser.
19:36No, it's not you, it's the market doing its job.
19:41You just happen to be the target.
19:43You're either at the table or on the menu.
19:47You're on the menu, my friend.
19:50All right, figure out a way to come back,
19:54you know, remain stoic, keep a smile on your face
19:58and know you're gonna figure it out one way or the other, come hell or high water.
20:02The market is out to make money, it's not out to give it away.
20:08And so you have to protect your downside before you shoot for the million bucks.
20:13And clearly we're doing that here, three pips at a time.
20:18Right, we're learning to layer in, we're learning to layer out,
20:22we're learning to start with a worst case scenario called an ejection seat,
20:28and we're learning to manage within that 36 pip space that we're managing.
20:35So each trade has its own 36 pip space.
20:40All right, so ultimately we put ourselves in the ballpark
20:44to find that move, which should, theoretically speaking, happen,
20:50you know, because we've measured from the left,
20:52we have an expectancy from that measurement that drives our behavior.
20:57Okay, so the top-down analysis is not the end all be all,
21:02it just, you know, narrows the field of view.
21:07You may still have to change your mind
21:09halfway through the day, just like we did on Tuesday.
21:12Right, instead of continuing to trade after losing 900 bucks, I just called it quits.
21:19I said, enough is enough, it's the end of my two-hour window,
21:23I'm not gonna over-trade, I'm not gonna overcome
21:26it, I'm not gonna get angry or get upset,
21:28I just walked away with a $900 hole in my pocket.
21:31And today, you know, if we look at today, what did we do today?
21:37Today I booked 600 and I'm floating.
21:42Where are we now?
21:43Did we retrace?
21:47Yeah, so we've retraced a little bit, right?
21:50And so now I'm floating about 1200.
21:52If we come all the way down here, my eight trades
21:56will be closed and today will be another losing day.
21:59Right, but I'm protecting my downside.
22:02The account will not be at risk any further than this.
22:07And that's ideal.
22:09You know, our job is to manage drawdown, manage
22:14losses, let the profits take care of themselves.
22:17Right, the whole purpose for you coming to trade years ago is to make money.
22:24So I already know you're here to make money.
22:28The market knows you're here to make money.
22:31Everybody knows except you apparently.
22:33Stop chasing the money, that what you're here for.
22:37Chase the losses that take the money away.
22:40Learn to cut them off, learn to mitigate,
22:43learn to recognize the damage as it's unfolding.
22:48Right, so you already know if we go below this low
22:52over here, that's three times we've tested this level.
22:56Let me put them right below the low.
22:59And then if we break those three attempts, I want nothing to do with longs anymore.
23:07So I'm just realigning the boxes so we can measure
23:11from this swing high, where's the market trying to go?
23:18All right, so mathematically, this makes perfect sense.
23:23The market moving a full box is not out of the ordinary.
23:28We see it all the time, right?
23:30At the bottom of the box, as a bullish trader, I would expect a bounce.
23:35If I don't get a bounce at the bottom of the box, being that it's a measured move,
23:41I would expect therefore the next measured move.
23:45That then makes it two standard deviations.
23:48It's like a Bollinger band.
23:49At the bottom of that two standard deviations, a bounce is highly expected.
23:56The probabilities start to increase, right?
23:59If you go into the third box, you're now past the middle of the Bollinger band.
24:05You're now heading towards the lower half of the band.
24:09And if the fourth box is presented,
24:11you've now crossed from the top of the Bollinger band through the middle,
24:16all the way to the bottom of the Bollinger band.
24:18That's one way to look at it.
24:20All right, so the four boxes represents
24:24from the bottom to the top, or the top to the
24:27bottom, whichever way you want to look at it.
24:29We're just breaking it down into chunks, right?
24:33And today I'm not willing, or tonight,
24:35I'm not willing to risk more than one and a half
24:39boxes, even if it may test this low over here.
24:44All right, so sometimes it makes sense to put it below the extreme.
24:54And sometimes it makes sense to put it where the structure tells you.
25:02Like right here.
25:04That make sense?
25:06And these three lows here is what I don't want to see broken over here.
25:15So that saves me about two pips.
25:21It's nitpicking, but that's what managing drawdown is,
25:29right, managing losses, managing the bad outcomes.
25:34I already put in the effort this morning to collect the profits.
25:41And because the way the thesis works, when my two hour window expires,
25:47I walk away with the trades remaining as is.
25:50I don't touch the ejection seat.
25:52I'm tightening it up here to show you what would happen.
25:59This is what we want to lose.
26:01We don't want to lose the ejection seat.
26:03Right, but I'm fairly confident
26:06that I'll close my trades in profit before we test the low.
26:11And if we happen to test the low, then tomorrow I come
26:15in and I have a little bit of obedience to practice.
26:23I have to practice following my rules, following my
26:28guidelines, get back on the horse and do it properly.
26:32- Now that it's the end of the year and starting out on a new year,
26:35what kind of reset do you tend to look at for traders and for yourself
26:40to kind of start the next year fresh on the right track?
26:43- Yes, good question.
26:46There's a whole host of things.
26:48If you look back to 2025
26:51and you should go back through your journals,
26:53should go back and look back through your journals.
26:57I have this one, I have all of these ones over here.
27:00Every time you made a mistake, you should have been documenting it.
27:07Not every time you lost.
27:08Sometimes you lose because the market says it's a loss.
27:13But when it's a loss due to you, when it's your fault,
27:17you should have been documenting that all along.
27:20And then at the end of the year, you want to go back and
27:24kind of take ownership and maybe create a plan of action.
27:28Don't try to create a, it's not like new year's resolutions.
27:35You don't want to address it like going to the gym
27:38because you're gonna stop within the first week.
27:41So instead it's more gradual, maybe break it up in quarters.
27:46So the first quarter of the year, you may wanna focus on discipline,
27:53get back to basics, trading one micro lot per click,
27:57just doing it well from the very beginning, just for that first three months.
28:02Especially if you had big hurdles during 2025,
28:06if you blew up a prop account in like November or December.
28:11You don't wanna start the year all gung ho thinking that this year will be the year.
28:16Not unless you make effort.
28:20And the first thing to do is reset your mindset.
28:23Understand that you're in total control of what happens from this day forward.
28:29You can even write a contract with yourself.
28:32Some of the things you probably wanna check, a
28:38self-diagnosis, it's a diagnostic, it's not a judgment tool.
28:43And one of the first things you probably wanna do is state your current affairs.
28:50What kind of drawdown do you have?
28:53What's your P&L for the last 30 days?
28:55Your average risk per trade, quarter of a percent.
29:00What kind of rule violations do you create for yourself?
29:04Do you cheat your system?
29:06Do you add a click or two when it's not supposed to?
29:09Do you break the rules?
29:11Do you start early, do you finish late, do you over trade, all that stuff.
29:15And then what kind of emotional state are you in when you're trading?
29:19Are you upset, are you fearful because you lost yesterday?
29:22All this stuff has to be accounted for
29:26and you're trying to be up, positive, healthy,
29:30winning, all of the positive things in life.
29:34That's what trading kind of brings out of you.
29:39Ultimately, you're gonna end up giving to charity.
29:44Isn't that what you're supposed to do?
29:46That's what life is.
29:47You're supposed to be helping each other out
29:49and you can't help each other unless you help yourself first.
29:52And that's begin by being honest.
29:55Where do you have issues?
29:58And then how do you address those issues?
30:03Because we all have different personalities.
30:05And so each one of us has the same issues and we're
30:09gonna have to address them independent of each other.
30:13Our own way, based on our biases, or what we were brought up to be.
30:22So some people are ego driven, some are fear-based, some are revengeful traders,
30:28or some are analysts, like engineers, burnout, that's common.
30:34You have to identify where you fit in this and address it from that point of view.
30:41And there's ways to do that.
30:43For me, ego driven is still today what I'm fighting for.
30:49I still have the need to be right.
30:54This is why I created this thesis for myself,
30:57'cause I could not handle losing swing trades.
31:01I still get upset.
31:02So I kind of put the swing trading on the side.
31:08I focus my bread and butter on what I know I can do
31:11successfully day in, day out with my eyes closed.
31:15And the swing trades then become cherries on top.
31:17And so there's a model here for each one of us.
31:23And to be honest, we all fit most of these models, one way or the other.
31:27Like we all have a foot in each one, but we're dominant in one.
31:34So you have to figure out where your dominance is and address that properly.
31:40And the primary failure state that you operate from is one of these.
31:44So you have to understand where you stand, how you're behaving in general.
31:51And then this was number two.
31:56Number three is right here.
32:00And a discipline integrity check.
32:04And so you have to answer yes or no honestly.
32:07And you want to define risk before every trade?
32:10Yes or no.
32:11For me, it's automatic.
32:14It's 0.25 per click.
32:16And before every session, I define where my floor and my ceilings are.
32:22Do I stop trading after my Max loss?
32:24Yeah, I did that on Tuesday.
32:26Do I follow the same rule after a loss?
32:29Yes, I did that on Thursday.
32:31Do I avoid changing stop losses midway unless I'm tightening, I won't touch it.
32:39The ejection seat never gets worse.
32:42Do I review my trades?
32:46The winners I don't really care for because it's just a high probability working out.
32:51The losers are the ones that fill up my journal.
32:55And you can see I've shown you, I have a few journals filled.
33:00Can I sit out when the conditions are poor?
33:05Often, yes, but odds are, I'll find an opportunity somewhere else.
33:11And so as an addict, as a day trader, that's doing
33:15it successfully, opportunities are everywhere.
33:21You're going to have to limit yourself from taking trades.
33:25So over trading is still there.
33:28Hence the two hour window for the bread and butter
33:33and then the opportunist in me kind of floats around the rest of the day.
33:38Section number four, the emotional and behavioral
33:40awareness is really self looking inward.
33:46What kind of emotion shows up before or after you break your trades?
33:52Sorry, you break your rules.
33:54What am I usually trying to avoid when you're hesitating?
33:58What are you trying to prove when you're forcing things?
34:02When the box says four clicks and you're putting eight or 12 or 16 of them
34:07all in the same box, why are you trying to move the market?
34:11And so all of this kind of stuff
34:16is a reflection on your train of thought at that time.
34:20What does a good trading day mean to you?
34:23So if you followed all your rules and you still lost, you should be cheering
34:32because you followed all your rules, right?
34:34And it led you to lose on your terms, right, within your limits.
34:39And so ultimately it leads you to the reset.
34:44You know, what instruments will I focus on?
34:48So you're probably gonna take away a few.
34:51A lot of guys have just way too much stuff going on on their plates.
34:55Maybe you have too many accounts that you're trying to trade all at once.
34:59Maybe you have too many instruments, too many setups.
35:03It's okay to have one or two or three setups on the go
35:06and have three or four or five or six on the side ready to go.
35:10All right, so the ones that are ready to go are plans.
35:16So you're creating plans, waiting for the price to come to those levels, right?
35:23So you fill your time with trading activities, but not with your finger on the mouse.
35:30All right, so it's a different kind of trading.
35:32And then maybe your position size will be adjusted
35:36now that you're focusing all of your efforts on discipline and not over-trading.
35:43You can limit yourself to a quarter of a percent per click.
35:47Now, the rules that become non-negotiable immediately should be, you know,
35:53not touching your stop loss, you know, rule number one,
35:58you know, that kind of stuff.
35:59What it is you're struggling the most with is what you should put on there, right?
36:04And that's just the top of the heap.
36:08You don't want to go to the gym right on the first week in January, right?
36:12You want to spread things out a little bit.
36:15First quarter, deal with this.
36:19And then with the second quarter,
36:21maybe deal with, you know, the progression from discipline.
36:26What should be the next step from there?
36:28Are your daily loss or your stop trading rules?
36:32Do you have any?
36:33And if you don't, make sure you do for 2026,
36:38because that's why you blew up the account in 2025.
36:42All right, and then the process-based metrics.
36:46What is it you're going to track?
36:48And not dollars and cents, all right?
36:53The APRE platform that I work with has a comment section
36:58where I get to pick and choose from a dropdown list,
37:03a emoticon, whether it's a happy face or a smiley face
37:07or an angry face, I get to document how I'm feeling with that trade.
37:13You should try and do something similar to that with your journals.
37:18I'm anxious, I'm greedy today, I'm whatever with this particular trade.
37:25And then when you review this stuff at the end of 2026,
37:30you'll have a much better understanding of where your problems are, right?
37:35So the reminder that I talked about earlier is your job is
37:38not to recover losses, your job is to recover your discipline.
37:43Go back to doing what you know works.
37:45Even Mark Douglas said it, even if it means you're trading one share,
37:50one unit, one micro lot, and go back to the most basic,
37:57basic, basic of your thesis and your risk, right?
38:03And then therefore consistency returns when execution is respected.
38:08And so that's what you do when you fall off the horse.
38:11You don't ask for a new horse, or you don't go strategy hopping.
38:18You get back and you continue what you know works, right?
38:22And that's it.
38:23If you want to, you should sign it and date it and make it a contract with yourself.
38:28You know, file it away and then come back to it
38:31in three months and see how you can reassess some of those slides.
38:36But yeah, it's absolutely doable, right?
38:39We have to put our emphasis on drawdown management always.
38:44And then for the majority of people that brings with it revenge trading.
38:51And so revenge trading is really psychology.
38:55And a lot of traders are ignoring the psychology of trading,
39:01nor postponing investigating the psychology of
39:05trading until they have a better handle on trading.
39:11It won't, it won't come unless you study,
39:15unless you put a little bit of emphasis on your inside,
39:20the way you perceive problems, the way you perceive
39:25risk, you know, be it money or crossing the street.
39:29You know, it's in our mind.
39:32Trading takes place between our ears.
39:35That's it.
39:38- One of the things that I want to hear you talk about too
39:40is I think the best way to scale up the strategy, the best way people are using it
39:44to make a good income out of it is with front-end accounts, with pro firms.
39:47Do you want to walk me through how you kind of
39:48look at pro firms and what you use to be able
39:51to make decent returns with this kind of method?
39:54- So yeah, the returns, you basically are extracting from
39:59a two-hour window, the same two-hour window every day.
40:04And because it's starting from this consistent routine, two hours every day,
40:10the same two hours on the same instrument, after a
40:14little while, you start building this expectancy, right?
40:18You show up to work and you kind of know what you're in for.
40:22There's this oddball day once in a while where stuff doesn't work out as expected.
40:27That's what we're here for.
40:28We're managers of risk.
40:30But for the run of the mill, the two-hour window
40:34delivers a run rate, a potential average yield, PAY.
40:41And we're aiming to extract in that neighborhood,
40:45that potential average yield, that paycheck, on a regular basis.
40:52And so I make sure to say potential average yield.
40:55I spell it out because I don't want people
40:58falling into the trap thinking it's the same every day.
41:02Some days it's $50 and some days it's $1,000.
41:06That's what the market gave you as opportunities inside of that two-hour window.
41:13So you're not creating trades that don't exist.
41:16You're just taking the trades that are there in that two-hour window.
41:22And that potential average yield becomes, if you
41:25respect the two-hour window, becomes a salary.
41:32And it's something you can therefore scale thereafter.
41:35You have to earn the right to grow bigger.
41:39So just because you made $1,000
41:41doesn't give you the right to double the size of each click.
41:46And so you have to respect the equity and a quarter
41:51of a percent of your equity will grow in due time.
41:56And so over the course of time, the potential average yield,
42:02which is a range, so it's a paycheck, but it's a range.
42:06You get a minimum pay and a maximum pay.
42:09Somewhere in there is your paycheck.
42:12This range is kind of what people, it's like a trip hazard, right?
42:20People start trading thinking, "I'm gonna make $200 a day.
42:24" They set this hard stone goal and then they get really
42:28upset, pissed off, and angry when they can't reach it.
42:32So what I tell the guys to do is create a potential average yield,
42:38an environment that pays, and with that pay, you have an average.
42:43So now targeting anywhere from 80 to 150, or from 80 to 200 satisfies the goal.
42:53All right, so instead of, "I must have 200,"
42:57I now set myself up with, "I'll be happy if I make between 100 to 200.
43:03" The psychology of having a range to work with instead
43:10of an absolute is tremendous when it comes to trading.
43:15You'll notice all I do is deal with ranges, right?
43:18A one-minute candlestick is a range.
43:21It's inside of a standard range.
43:26I didn't make this up.
43:28It stopped here and turned around, right?
43:32The range inside of a range is inside of a bigger range.
43:37All right, we are range traders, all of us, whether you like to admit it or not.
43:47We're all trading ranges, and if you don't like it, then switch over to a line chart,
43:53and you're still going to be trading ranges, right?
43:56The highs and the lows are still containing the ranges.
44:00So it doesn't really matter.
44:03The paycheck is extracted from that range, and then if you're a swing trader,
44:12your paycheck is coming from the expansion out of the ranges.
44:19That's it.
44:20I make my money from the ends of your swings.
44:25(laughs)
44:27- So you've been trading a few funded accounts in the past.
44:30Do you find it more difficult or more, like there's more pressure when you look
44:34at the funded account compared to your own account for this method?
44:36- With any method, I think it's the psychology of trading.
44:40Demo or funded makes really no difference.
44:43From a mechanical side, the only difference
44:46is the load on the server from the broker, right?
44:50The live server will have a fraction of the users
44:55that the demo server services, right?
44:59So there may be a hundred thousand users on the demo, and there's 10 on the live.
45:04(laughs)
45:05And so when the news comes out, you get the same
45:09prices on the chart, but it reacts differently, right?
45:13So it's still the same prices on the chart.
45:16Trading takes place inside your head.
45:19And so if you're having a problem trading a prop account,
45:24but you're making money with your own account, the problem is still psychology.
45:29You can adapt the strategy.
45:33You can make it work with different spreads, different commissions.
45:39You can fit the model to what you need.
45:42You can extract what you require from the market.
45:47It's hard to hear that, but trust me, you can.
45:49You can budget each one of those clicks.
45:53You can tell a month in advance how many clicks you need to pay for stuff.
45:58That doesn't mean the market will give them to you.
46:01- So if you want to see more about how you trade
46:02and they want to actually join you and learn from you,
46:04we'll leave below the link for Elias Capping,
46:06the program that you run in Desire2Trade,
46:08where you go over your style, your strategy, your rules and details,
46:11and you trade live to us, so we could people.
46:13So it's kind of cool to get behind the scenes
46:15on that and to be able to trade live with you.
46:17And we'll have that link below.
46:18Anything else before we finish off you want to mention here?
46:21- Well, yeah, I trade live in front of the group
46:23on Tuesdays and Thursdays between 10 o'clock Eastern and 12 o'clock Eastern.
46:30I answer questions throughout the week in a Slack environment.
46:34And so feel free to come along and sign up.
46:38There's help there.
46:40And it's a community of like-minded traders.
46:42So we're all thinking in probabilities.
46:45And there are groups that don't deal with other strategies,
46:49but this particular thesis, this particular approach to managing risk
46:55is one of a kind, and I'm more than happy to share it.
46:59- Totally. We'll put a link below.
47:01You'll do some good work out there for sure.
47:02People can reach out to you and see the stuff you're doing there.
47:05And hopefully they can learn from you in the coming year.
47:07So appreciate your time here, Jeff.
47:08It's been fun to chat.
47:09And hopefully, yeah, look forward to see how
47:11you do next year, which can be good for sure.

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