YT YouTube2Text

YouTube2Text → Transcripts → You Will Never Win At Trading Until You Do This ( 30 Minute Fix )

You Will Never Win At Trading Until You Do This ( 30 Minute Fix ) — Transcript

by The Rumers · 5,773 words · 822 segments · language en · Watch on YouTube

Open in transcriber Summarize with AI Download SRT/VTT

Full transcript

0:00You know, I hate to put you on the spot
0:01like this, but let me ask you a
0:03question.
0:04How long has it been?
0:06How many months or even years have you
0:08been trying to become a profitable
0:09trader?
0:11Better than that, let me ask you this.
0:13How many videos have you watched? How
0:15many courses have you bought? How many
0:17strategies have you tried? How many
0:20hours have you poured into trading only
0:22to remain stuck? It's like this whole
0:25entire experience feels like you've been
0:26rowing a boat with its anchor down.
0:29Except for in this case, you don't know
0:31it's an anchor. You know something is
0:33there that's holding you down, you just
0:35don't know what it is. So, you keep on
0:36paddling the boat harder and harder
0:38going nowhere faster. And look, I
0:41totally get it. I went through the exact
0:43same thing 20-plus years ago when I
0:44started trading. The more my knowledge
0:47went up, the faster my account balance
0:50went down. And it's not supposed to be
0:52like that. But unfortunately for most of
0:55us, it is. So, if this is something that
0:58you've been going through, let me tell
0:59you why that happens and how you and I
1:01are going to fix it. You see, the reason
1:04this happens is no matter what trading
1:05strategy that you have learned or will
1:07attempt to learn in the future, no
1:09matter how good it sounds on paper, no
1:11matter how potent it's been in the hands
1:12of another trader, it is only average at
1:16best. That is unless you stack three
1:19pieces of context behind that strategy.
1:22If you don't use these three pieces of
1:24context, you will never win at trading,
1:28no matter how hard you work, no matter
1:31how bad you want it, you will continue
1:34to remain stuck and frustrated rowing
1:37that boat faster and faster going
1:39nowhere. And that is not why you got
1:41into trading. Now, if you don't know who
1:43I am, my name is Doug, and I've been a
1:45professional trader now for 26 years. In
1:47today's video, I want to share with you
1:48the three most important pieces of
1:50context that you must put behind every
1:52trading strategy. And I want you to
1:54specifically pay attention to number
1:56three, because it's the biggest mistake
1:58that most traders make and most of them
2:00don't even know it. Now, before I get
2:02into that part, I want you to know
2:03something. Talk is cheap in this
2:05industry. I am going to shoot this video
2:08completely live, unscripted, and uncut.
2:12No hindsight here. That way you will
2:14know for sure whether or not these
2:17pieces of context can help you get to
2:19the next level as a trader. So, on that
2:21note, let's go ahead and get started
2:23with today's video.
2:26So, let's begin with just the charting
2:28that I'm using here just so we're all on
2:29the same page with that. I'm using
2:31ThinkorSwim since we're trading live
2:32today. And what you see here on the
2:34screen is exactly what I've been using
2:36over the last two decades, a two-chart
2:38format, a shorter-term chart on the top
2:41which happens to be the 5-minute. I
2:43often toggle between that and a
2:4415-minute
2:46for entries and to get other data, which
2:48we'll talk about in a second as well,
2:50and a daily chart down bottom. This is
2:52how I've been doing it for two decades,
2:53like I said, and I'm starting today with
2:55YM because I think this is what we're
2:57going to trade, which I'll discuss that
2:58as well. So, let's begin with number
3:00one. Number one thing that you need to
3:02do each day when you get to your desk is
3:04you need to mark the four most important
3:09and influential levels to trade from
3:12each day. And those levels are the range
3:14high, the range low, the swing high, and
3:17the swing low. Now, let me show you what
3:19these are and how you figure them out.
3:21Beginning with the range high and the
3:22range low. The range high and the range
3:25low is the previous day's high price and
3:28the previous day's low price. This is
3:31one of the reasons we're going to use
3:32the daily chart. So, you see I have the
3:33daily chart here. And what I'm going to
3:35do is box in or draw a line on the very
3:38top price point of the previous day's
3:41candle, which is right here. Let's just
3:42kind of draw that out.
3:44And I'm going to connect it with the
3:45lowest price point that you see of that
3:47daily candle. Now, for today I'm going
3:49to use lines instead of the box because
3:52I'm using this thinkorswim and they only
3:54have one shade of their box, which is
3:57like a puke gray. And if I put it over
3:59top of the candles, you don't even see
4:01the candles. It's not going to help us.
4:02So, unfortunately, we have to use lines.
4:04But, these lines are the range high and
4:06the range low. Now, after that, let's go
4:08back down to the intraday 5-minute chart
4:11or whatever time frame we've selected.
4:14And from here, we need to add two more
4:16lines. One to the top, which is the
4:18swing high, one to the bottom, which is
4:20the swing low. And since we're on the
4:21bottom, let's do that one. The swing low
4:24is the very next low underneath of the
4:27range low. So, here's the range low
4:29line, not to confuse anyone. All you got
4:31to do is move your eyes over to the
4:33left. Note this cluster of activity
4:37right over here. There's like a a
4:38quadruple bottom on the 5-minute chart.
4:41So, I'm just going to go ahead and lay a
4:43line down here. It doesn't have to be
4:45perfect to the penny. It's just a
4:47reference point, and that's going to
4:49constitute our swing low. Now, for the
4:52swing high, we're going to do the next
4:55high that's above the range high. We do
4:58the same thing. We start moving over to
5:00the left until we bump into the next
5:04highest price points, and you're going
5:05to see there's like this little tiny
5:08triple top right there. You see that?
5:10And that's going to constitute
5:13the swing high. Just like that.
5:16Now, once we've done this, here's what's
5:18so important about this and why this is
5:20number one.
5:22These, my friends, please understand
5:24this. These are the only places that you
5:28and I are going to make a trade. No
5:32guesswork. If it's anywhere outside of
5:35that, no. If it's in the middle of that,
5:38no. These are the most influential,
5:41highly influential areas, I should say.
5:44This is where you and I must be. Now, if
5:48you've been trading for a long time and
5:49you're studying these strategies and you
5:51see this beautiful pattern and you're
5:53wondering how come they stopped working,
5:56a good reason is you're trading in the
5:58wrong place. If you're trading anywhere,
6:00making a trade anywhere else in there,
6:03you're guessing. That's what you're
6:04doing. And guessing leads to
6:06inconsistency. Now, the question becomes
6:08which one of these are buy lines, which
6:10one of these are sell lines, and there's
6:12a simple process. And of course, there's
6:14nuances to this which we'll discuss here
6:16in a second, but I think a lot of you
6:17know this and here's how I've been doing
6:19it for the last two decades. The upper
6:22areas represent the highest sell side
6:27influence
6:29on that chart. Sell side dominant.
6:31Sellers control the chart. Now, don't
6:34take my word for it. Look at the damn
6:38chart. What happens every time you tap
6:41in to the range high? Here's 1 2 3 4.
6:45You tell me what happened every time you
6:48move to 52,300. What was the end result?
6:51Selling, correct? Selling. I'm not
6:54making it up. It's selling. It's right
6:55there.
6:56Next, the range low and swing low
6:59represent the strongest, most
7:00influential buyer, right?
7:04Same thing happens here, but it's
7:05inverse. What happens every time you
7:07move down to 51 8? 1 2 3 4. You find a
7:13buyer. Now, what's so important about
7:16these is you have to trust these levels
7:19because take a look at this activity.
7:21When it's dumping like this, no one is
7:24thinking there's a buyer going to show
7:26up, but there is. There is a level this
7:29is going to, right? Just as it is here.
7:33And what we want to do, as I said, is
7:36just make sure you put yourself in that
7:39position if you want to be successful.
7:42So, that's the outline of using the
7:44swing high, swing low, range high, range
7:46low. Now, we're going to go over this as
7:47well more and make live trades off of
7:49this.
7:50But, once we've done that, now I want to
7:52move over into the real live section of
7:55this market today or move you up to
7:56right now because you're going to get
7:57your very first nuance. Now, I've done
7:59videos about the swing high, swing low,
8:01range high, range low before, and one of
8:03the biggest questions I get is what do
8:05you do when the market gaps up, which is
8:07exactly what we have this morning. Note
8:10right now the YM, look at it's it's
8:13going to run out of the top of the
8:15screen here. It's up huge. So, what do
8:18you do in a situation where the previous
8:21day's activity is either way above the
8:23range high? What do you do in those
8:25situations? Well, we need to create a
8:27new box, a new range high and a range
8:29low. Here's how we do it. We come over
8:31here and we grab the highest price point
8:34we physically see with our eyes. And I'm
8:38going to lay a line right there. Now,
8:40this is the highest price point over the
8:42last 24 hours as well. You can always
8:45just go back 24 hours, take the high,
8:48and take the low. So, if I go back over
8:50here, where's the low? It's right here.
8:53Now, tell me when you look at the low,
8:55is there anything interesting you might
8:57see?
8:58Note that the low was the previous day's
9:02high, right?
9:04Interesting. You see how those levels
9:07come into play? So, the pre-market low
9:10or the post-market low is actually the
9:13previous day's high. So, those two lines
9:16constitute
9:18the range high, the range low. Now,
9:19let's start with the swing low cuz it's
9:21a little bit closer. All we need to do
9:23is come back down here and pick the next
9:25level, which is about right here in this
9:27area, right?
9:29And we're just going to draw a line here
9:31and create a new swing low. But, now
9:33when we come to the swing high, we don't
9:36have anything over here. So, for this,
9:39I'm going to go to the daily chart,
9:41right? And I want you to tell me here
9:42real quick,
9:45what do you see? So, if I grab this and
9:47I move it all the way over here on the
9:50daily chart,
9:52what has happened
9:55to the YM
9:56every time you've got up there? Just
9:58take a look at the upper red line. You
10:00tell me,
10:01what was the end result? Just think
10:03about it, okay? I'm going to tell you
10:04here in just a second.
10:07It should be, and you should be thinking
10:10sell side. Now, that doesn't really look
10:14like a sell, correct? Which will bring
10:17me to number two,
10:20which is range. To me, range is one of
10:22the most valuable tools a trader has at
10:25their disposal, because you've probably
10:27asked yourself this question. You've
10:29been in a trade, it starts moving in
10:31your favor, and you're like, "Should I
10:33take my money here, or should I hold a
10:36little bit longer?" Now, most of the
10:38time when we ask ourselves that, it does
10:39the complete opposite. But, the reason
10:41is because we don't understand the
10:42concept of range. And let me make this
10:44as easy as I possibly can, and most of
10:46you probably know, because it's
10:47self-explanatory. It's what an asset has
10:50the potential to give you every day.
10:54Now, let me show you how you figure it
10:55out and how we're going to use it in
10:57this case. We want to go back to our
10:59daily chart. Excuse the chicken scratch.
11:00Remember, we're just doing this live.
11:03And I want to go and I want to find the
11:05the indicator average true range. You go
11:09over here, you'll see it's listed as
11:10ATR. I already have it up here in my
11:12menu, and you just enable it. Do not
11:14touch it. Don't do do not add any
11:16filters to it. Just click on it like
11:18that, hit the apply button, and it's
11:20[clears throat] going to give you a line
11:22here on your chart. Now, if you look
11:23here in the case of YM down at the
11:25bottom over to the right, you're going
11:26to see 612.
11:29So, first, for anybody new that doesn't
11:31understand range, what does that mean?
11:33The potential in YM each day can be 600
11:38plus points, 612 points. Now, I say
11:41potential each day, let's understand
11:43something about markets. There are no
11:45guarantees. Some days they will extend
11:47range, some days they won't come close
11:48to range, but if you take a average of
11:51the last X amount of days, that's what
11:53you can expect. Now, how we use it as
11:56traders is a term of value. So, for
11:59example, if the YM is up 600
12:02points, it's quote-unquote expensive for
12:07this time period that we're trading for
12:09this moment in time, for the short-term
12:10time period as traders we are.
12:12It is considered to be expensive or a
12:15little frothy. Now, that doesn't have
12:16anything to do with the long-term
12:18picture, but the short-term picture as
12:19traders, which is important, short-term
12:21traders, excuse me,
12:22that's important. So, the closer you get
12:25400, 500, 600 points up, you start to
12:28get a little frothy, market's getting
12:30ahead of itself, right?
12:32The other way, if it's down 400, 500,
12:34600 points deep in the range, it's
12:37starting to get cheap or oversold on the
12:41short-term. Now, where that calculates
12:43into what we're doing is you get these
12:47epic level reversals once you start to
12:49expand
12:51ranges. And we'll go over that here in a
12:53second, but let me just kind of give you
12:56a little quiz. I'm going to move this
12:57down here.
12:59And then let me just leave it up. Let me
13:00just leave this up for a second. I'm
13:01going to just ask you this. With just
13:03the two pieces of knowledge you have
13:04here,
13:05number one, we determined what when we
13:08had the range high, range low, swing
13:09high, swing low. I mean, you look at the
13:11daily chart, you tell me right here,
13:13what has happened every time the YM has
13:16moved up here to 52,700, 708.
13:20What happens? What happens at the box
13:23high, range high, swing high? What
13:24happens?
13:25Sellers show up. Some magical seller,
13:27some seller comes out of nowhere, smash
13:30it a little bit lower, right? So, we've
13:32already determined just based off of the
13:34four lines we've drawn, probably should
13:36look to sell this thing, right? Because
13:37you're reaching resistance.
13:39But you're not just reaching resistance
13:41here, right?
13:42You're also what? 602
13:47points in the grain. So, I know you guys
13:50are good at math.
13:52That's almost 100% of the daily range.
13:54Am I correct?
13:56So, if you're at resistance,
13:59where sellers are known to be,
14:02you're almost 100% of range, 600 points
14:05was is insane, and the market's not even
14:07open.
14:08I want you to tell me,
14:11what what do you think is going to
14:13happen here? Now,
14:15when I should should refrain, what's
14:16going to happen right when the bell like
14:18what's the first move? What do you
14:21think?
14:22Now, I hope you're thinking sell. Not
14:26you want to sell, not because you're a
14:28seller by nature, but because that's
14:31what the chart's telling you to do. It's
14:33clear. One, resistance. Two, range. So,
14:37we know we're going to sell.
14:40But when are we going to sell? That's
14:41the good point. How do we know? Maybe it
14:43goes up a thousand, right? It's done
14:45that before. How do we know that's not
14:47the mistake of our lives? Because as I
14:48said earlier, it certainly doesn't look
14:49like it's a sell.
14:51This brings us to the final piece, which
14:52I know everybody who's watching the good
14:55is you're already a pro at this. You
14:57know exactly how to do this and do it
14:59perfectly. And that is tell time, the
15:03clock. The actual clock provides you
15:06with an advantage more than you would
15:08ever know. And unfortunately, it took me
15:10about four or five years before somebody
15:12told me how important the actual
15:14physical clock was, and maybe nobody's
15:16ever told you that. Now, let me show you
15:18what I'm what I'm talking about or
15:19explain it to to
15:20Each [snorts] day, you get a very
15:23aggressive pivot. A pivot is a shift in
15:26momentum or a very explosive move.
15:29Now, they happen all certain times of
15:31the day, obviously, but most of the time
15:33the pivot that you will see or the
15:35explosive move that you see, the move
15:37that you want to trade comes after the
15:40first 10 minutes of the day. So, between
15:42minutes 10 and minutes 20, you normally
15:46will see, remember I'm saying normally
15:48here, a very aggressive and high-quality
15:51trading opportunity appearing. This is
15:55where you and I also want to trade. So,
15:56think about what we're talking about.
15:58We're trading at a specific location.
16:00We're trading a specific premium dollar
16:03amount in value, and we're trading at a
16:05specific time. What we're doing here is
16:08we're positioning ourselves
16:11to make money as often as possible.
16:14Again, nothing is guaranteed in trading.
16:16Nothing is perfect. But, what we want to
16:18do is we want to be at the right place
16:20at the right time as often as we can.
16:22And by combining those three things
16:24right there, that's going to put you in
16:26that position. The last little thing I
16:28want to talk to each and every one of
16:29you about is time itself. Because the
16:31very first 5 minutes of each session has
16:34the highest amount of tradeable volume,
16:36the most amount of market participants,
16:38you also get the most amount of, let's
16:40say, lunacy during that time. And until
16:43you've really adapted some high-quality
16:45technical analysis skills, I highly
16:48recommend you stay out of that. It's
16:52very difficult to get accurate readings
16:54in a high-speed environment if you're
16:57new. Now, if you're a pro, great. It's
16:59not a problem. But, until you've really
17:01developed your technical analysis
17:02skills, stay out of the first 10
17:04minutes. You just You're just asking for
17:06trouble. You're just asking for trouble.
17:08So, what I'm going to do is go back up
17:09here to the intraday chart right before
17:12the here.
17:14And I'm going to go down here to see my
17:15market opens at 6:30. So, I'm just going
17:18to kind of draw a box here. Again, this
17:20is a ugly box between 6:30
17:24and let's say 6:40, the first 10
17:26minutes, okay? Let's just make it a
17:27little bit bigger, right? There, okay.
17:30We want to make the trade outside of
17:33this. So, we want to give ourselves a
17:34little bit of time just in case the they
17:36want to chase this early, right? They
17:38might want to chase that early, they
17:39might want to run it up a little bit
17:40higher.
17:41Just because it's range, just because
17:42it's resistant, look at the market can
17:44do whatever the hell it wants. Maybe it
17:45wants to go a little bit higher. So, we
17:46want to let everybody kind of have their
17:48fun first, let them throw their money
17:49around, let them get their emotions out
17:51of the way, and then we're going to see
17:53if we have a short. Now, if we don't,
17:56and let's say the first move just
17:57implodes and it drops, then we're going
18:00to look for a lower level down here
18:02towards the bottom of the box, towards
18:05the range low and the swing low to try
18:08to get long. So, see, we always have an
18:10option. It just depends on what the
18:12market gives us. So, we're not
18:13inflicting a bias on the market. We know
18:15what we want to do, but we still need
18:17help from the market. We still need the
18:19market to do that. So, it's going to
18:20open up here in a few more minutes. I'll
18:22come back and we'll take a look at what
18:24kind of chart we have post 10 minutes,
18:27and then we'll see if we actually have a
18:28legitimate trade, and then we'll maybe
18:31even mask up some new levels, okay? So,
18:33let's go ahead and see what we have here
18:34in just a few minutes.
18:36Okay, so I am back. It's almost been 10
18:39minutes. We're on the 10-minute candle
18:40actually of the day, the second 5-minute
18:42candle here at least on my chart.
18:45And I think we have exactly what it is
18:47that we are looking for. Now, before I
18:49tell you what it is, based off of
18:52everything we've discussed so far, I
18:53want you to tell me what do you see? And
18:56let me give you a hint. Focus on the
18:59range high and the range low, and focus
19:03on the candles.
19:04What are you seeing currently? Let me
19:07open it up just a little bit bigger cuz
19:09I want everyone to be be to see that.
19:11Now, this gray [snorts] box obviously is
19:12the 10-minute box. We're waiting for it
19:13to finish.
19:15Note that again, you're you're not
19:18making this up. There's no guessing.
19:19Note every time you get up there, do you
19:22see the drag on these intraday candles?
19:24This is why we're using smaller time
19:25frames to see this context. See all
19:28these I call them John Wicks. Sometimes
19:29people make fun of me about it, but it's
19:31it's a way for me to mentally relate to
19:33what I'm seeing.
19:34Note
19:36the the the pull on it. You you can
19:39smell
19:40>> [snorts]
19:40>> I can smell the selling right here in
19:43this. So, what I'm looking to do is get
19:48in here short. I I mean, you can see the
19:50resistance up there. So, our stop is
19:52going to be up over top of the high.
19:54Just kind of waiting for this candle to
19:56to kind of finish out of a little bit
19:58more before I enter it, just so it
20:00doesn't get picked up down here towards
20:02the low, but but look at I mean, it's
20:03obvious. That's what you should be
20:05seeing. There's clear and present
20:07selling at the swing high. We just need
20:10a little nudge. Now, this is also the
20:13reason it's happening is because the
20:14damn thing is up 600 points. That's
20:17important. If it was up 30, it wouldn't
20:19be a big deal or 50, but it's six
20:22freaking hundred points. It's going to
20:25be hard to hold this, okay? So,
20:27let's see where we are
20:29in the next couple of minutes.
20:32See if I can fire off an entry here. I'm
20:34kind of just stalling to see real quick
20:36if I actually get it.
20:39Let me just leave this open and see if
20:40we get it. All right. So, I went ahead
20:43and I entered. I'm going to put the
20:45screenshot up there.
20:4652705.
20:50705
20:52right here on the third 5-minute candle,
20:54which is the 15-minute candle. My
20:55apologies. Let me open this up. Right
20:58here.
20:59Right here on this spike. It looked
21:01there at one time you had a little power
21:02tower, but as soon as it started to drag
21:04on the 15-minute, I went in and entered.
21:07I really kind of was thinking about
21:08jumping in on the second candle, but I
21:10went ahead and let it finish. So, I
21:12think it's obvious we've already talked
21:14about it. Here are your candlesticks. I
21:17mean, and and let me just explain this.
21:19Maybe it comes up there and stops us
21:21out. Maybe it's just going to be one of
21:22those days. But, there's only so much
21:24confirmation you can get. I mean, once
21:25you got it, what what what else are we
21:27looking for? I mean, again, I can I can
21:28smell it, all right? Now, because it's
21:31up so much here, it's probably going to
21:32be a little bit radical. Now, the next
21:35thing we want to talk about is what to
21:38expect in terms of range to the downside
21:41and what we want to expect in terms of
21:43target, okay? Now, if you look here,
21:46what you can always do is pull other
21:48areas. So, note that this candle is
21:50fussing over here at 52 654,
21:54as is this one, as is these two, as is
21:57these two, as is these two. So, this is
21:59a very hardcore support level, right?
22:02And that's one of the reasons why I
22:03wanted to short there. to give myself a
22:05little room to stay out of the the spike
22:08zone. So, if we can clear this 52 650,
22:14we should be able to move to the next
22:17level. So, remember also, we're not
22:19guessing, we're making level-to-level
22:22trading. So, if we can dispatch of this
22:24level, which is you can see it's it's a
22:26little bit difficult,
22:28we can work on this level here. I'm
22:30going to draw some just zones to pay
22:32attention to and maybe even this one
22:35here.
22:36That's pretty far, but let's see if we
22:38can move down there. Now, the other
22:41thing is with the range, let's not rule
22:43out here. One of the reasons I like
22:44this, we could fill in the gap. If I
22:46move this down here, guys, we can go all
22:49the way back down here to where it
22:51started. That's the lure of this. The
22:53risk is very low. The stop is above all
22:55of these wicks. Again, we just need a
22:58really good break of that. So, I will
23:00come back and keep you updated. I just
23:02want to stand here in dead silence like
23:05you know how you get with your trading.
23:07Let's see and I will keep you updated,
23:09but we just really need to get below
23:12that 52 650. Yeah.
23:15Okay, so I wanted to queue this up real
23:17quick. Sorry for jumping around, but I
23:19wanted to get this up real quick as fast
23:20as I could to show you. We finally got
23:23back into that shorter term support.
23:26Now, note how See it See it See it See
23:28how it accelerates as soon as you can
23:29break down those shorter term support
23:32structures, those shorter term buyers
23:34because anybody who had pop possibly
23:36bought that dip, excuse me, I'm getting
23:38amped up here a little bit, probably has
23:40a stop down here. So, now that we're
23:42free and clear of this I get a little
23:45bit lower I want to take some of the off
23:47here on the table and pay myself. But,
23:49what we can do now that we've got a
23:51break of that structure is let's move
23:53the stop from where we originally were
23:55going to put it at 57
23:58793 area. Let's move that down to
24:01roughly the entry. Just right above
24:03let's say right above this green candle
24:04right here. Uh
24:06again, we can still be spiked on, but
24:08now that we've dispatched of this level,
24:11we want to look at the next one which is
24:1252
24:14600.
24:15Let's see if we can
24:17get rid of that, but so far so good. Uh
24:20even if it stops here and we have to
24:22take the money, we get stopped out. The
24:24principal the the the principal was
24:25still there. Remember, resistance,
24:28excessive range, and the clock putting
24:31all this together. All right, guys. So,
24:32I am back. It's been a good 30 minutes.
24:35Look at this chart. I wanted to come
24:37back a little bit earlier, but I got a
24:39lot of things going on trading live with
24:40the community as well. I left these
24:43lines up here. It's been a mess looking
24:44at these lines all day, but look, each
24:46and every time you just broke down those
24:48lines. It just kind of goes from one
24:49level to the next.
24:51I didn't think this thing was going to
24:52produce this much in the way of gains
24:54and you never know that. You never know
24:56what you're going to get. You just have
24:57to get in it based off of the strategy,
24:59the formula, and the setup
25:01and let things go. But, this thing's
25:03already well in excess of 300 plus 350
25:06points and at, you know, five bucks a
25:08point per contract,
25:11this is a big trade. This is a monster
25:14trade. Now, I did take a little bit off
25:16of that here around the first support
25:19area just to book some profits and draw
25:21that stop. So, a lot of people ask,
25:23"Now, what do you do in a situation like
25:24this?" Because
25:26this is the benefits of trading live
25:27markets, trading real things,
25:29dealing with these circumstances. So, in
25:33this case, we got to start thinking that
25:36maybe you're going to find your way down
25:38into the gap back. And maybe you maybe
25:41you fill in this whole gap. Remember,
25:43this thing was overbought as hell. So,
25:45when you go back and you look at the
25:46range at the top, you're 270. You're
25:49still freaking green. Right? It It It's
25:52still green. Like, it can go red. That's
25:55the beauty of range. Uh I didn't think
25:57they were going to hit it this hard. I
25:58actually thought it might get bought
25:59back up a little faster. But, all we're
26:01going to do here is just trail down per
26:04candle. So, each candle, the stop right
26:06now is 52.5. We're going to keep on
26:09walking it down until we eventually get
26:12stopped out. Now,
26:14it it's impulsive sometimes to want to
26:16take the money, but in this case,
26:18why would we? Look at it.
26:20What's to say that anyone buys this?
26:22We'd have to see something and we've
26:24already got some profits. We want to
26:26ride this one out. We might be able to
26:27book another 100, 200 here. I mean, this
26:29thing could turn out to a like a
26:31mid-size sedan in gains. So, we don't
26:34want to give this up. I'm going to come
26:36back a little bit later. It's actually
26:38very hot here in Las Vegas. It's like
26:40100 110, no joke, and I'm burning up.
26:43I'm just like sweating here, so I
26:44apologize.
26:46Let's see if we can get down there a
26:47little bit lower. I think we can make it
26:48to what?
26:50The range low. Interesting, right? It's
26:52going to find its way down to the range
26:53low, maybe? Hmm? Swing low.
26:55Unbelievable. These levels are like
26:57magic. That's why Silvia calls them the
26:59magic lines.
27:00So, let's see. Let's see.
27:02All right, guys. I am back with a final
27:05update. I almost forgot I was doing this
27:07video cuz it's been like an hour and
27:10I've been doing tons of other things
27:11with the child. I even changed my shirt
27:13because it's like freaking hot here. I
27:15told you earlier it's like 112°.
27:18Air conditioner isn't even doing a good
27:19job. So, I apologize. I wasn't even
27:21paying attention. I just fired back up
27:22the recorder. I'm completely out of this
27:25trade. I did take a couple of partials
27:27on the way down. And actually, look
27:29where it got to. It got down into the
27:33the range low, right? And that was
27:35actually a nice little John Wick kind of
27:37reversal trade to the long side. So,
27:40you know, there's multiple opportunities
27:43in these things, but this thing went for
27:45well over 400 plus points. Again, you do
27:48the math. Five bucks a point, multiple
27:50contracts. This This was the biggest
27:53trade I made in the the month. This This
27:55is amazing. They don't always work this
27:56way. I'm not going to act like they do.
27:58But this was beautiful and there's even
28:00another one here, but I'm not I'm not
28:01going to take it. When I have a trade
28:02like that,
28:04I'm not going to do another one. There's
28:05no reason to to push it. That's just
28:08incredible and I
28:09just being up front, I don't get them
28:11like that every day. Huge move. But you
28:13can see there's also a reversal. But let
28:14me just ask you this.
28:16Where did the reversal take place? Where
28:18was the dip buy?
28:21Dip buy was down here towards the range
28:23low and the swing low. Where did it go
28:26from? Swing highs, right? Swing high
28:28range high
28:29to swing low range low. One spot.
28:32Trading in here in the middle got you
28:34what? Got you cheesed. Got you in
28:37trouble. Got you whipsawed all over the
28:40place, right? And that's what we have to
28:42keep in mind. So, on that note, guys,
28:44I'm going to end this video. Amazing
28:46trade.
28:47If you are really wanting to advance in
28:50your trading, you've got to put these
28:52three pieces of context and I think you
28:53know that now. But, if you're looking to
28:56go to another level with this and you
28:57really want to take this seriously,
28:58there's two things I want to remind you
29:00of. Number one
29:01is
29:02my wife and I put together a free watch
29:05list every week. It's something we offer
29:06the community. It's called the gains
29:07guide. The link is down there in the
29:09description.
29:10Also, you can trade with us live each
29:12day because
29:14I'm I while I'm doing this live, I'm
29:16also trading live with the community.
29:18Hence why I've got to keep cutting and
29:19coming back, cutting and coming back.
29:21Because I'm walking them through this
29:23trade, too, and many of them have taken
29:24this. And this is what it's all about is
29:27understanding not just a setup, but how
29:29things work, how markets function. So,
29:33on that note, guys, let me thank you for
29:34watching today's video. As always, I
29:36want to thank you for watching it. I
29:38hope I was able to give you some value
29:40today. And as always, until the next
29:42video, take care, trade well, and
29:45cheers.

About this transcript

This page contains the full transcript of You Will Never Win At Trading Until You Do This ( 30 Minute Fix ) by The Rumers, generated from the public captions YouTube serves with the video. The transcript has 5,773 words across 822 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.