How To Day Trade Like Millionaire Pros (Build a Playbook)

After my interview with Lance breitstein and his emphasis on the importance of edge in building a Playbook I decided to host a webinar to show how to build a Playbook based on Mike Bella Fury's book The Playbook and things that I learned over the last 4 years as a Trader for me hyperfocusing on edge and building a Playbook changed my trading career and if you are struggling The Playbook and the will to survive the learning curve Are two things that are extremely important for beginners I was sitting at dinner with Mike the fury and we

were with a group now Mike has raised seven and eight figure Traders I asked him how Traders fell on the desk with all the resources that SMB provides I'm not sure if you know this or not but everyone that works on a prop desk doesn't make it he said it depends on the individual on the individual's discipline their persistence their willpower so if we use Sports as an analogy everyone isn't meant to play in the NBA professional athletes can provide provide their children with the best training and at the end of the day each person

has to persist and put in their hard work to ensure that they have what it takes to be a professional athlete so some of the best athletes in the world had children that tried to play in the NBA they didn't make it so if you're watching this video you must ask yourself firstly Am I willing to put in the work and persist and work hard at the craft to gain the skill am I willing to persist past the Steep learning curve if you are the this video is for you and the process of building a

Playbook with Edge will help point you in the right direction I hope you enjoy it all right so now the purpose of this webinar if if you watch the recent podcast I had with Lance breitstein um you heard how he um discussed the Importance of edge right and my journey as a Trader um from engineer to Trader I'll tell you just a little bit about it just a quick five minute uh blurb about my journey and then we'll move right into it but um to me and the pros right they all talk about how uh

how important it is to build a Playbook you have set and defined rules um especially in the beginning because you don't have any history you don't have an intuition built right Because you you're just starting out so it's important to to um either take someone else's Playbook um and apply it or someone else's strategies and apply them it's very important that you do that in the beginning and you have defined rules that you are sticking to uh that you can measure right so this Workshop this webinar is designed to help anyone out there that's um

you know that's looking to build a Playbook or refine the current Playbook okay all Right so just quick disclaimers whatever I share here is for informational purposes only I'm not a financial advisor okay all right so feel free to use the chat if you have any questions just drop them in the chat we're going to work together this is a it's a workshop right so um we're going to we're going to be um you know moving uh like like a class right classroom setting so it'll be a two-way thing basically all right all Right so

now first thing first I think traders in the beginning you have this Perpetual fear of failing right this Perpetual thought of uh can I do it and the fact is is that you can I was sitting at dinner with Mike Bella fury like he's raised seven and eight figure Traders and I asked him I said okay if Traders fail with all these resources that you give them right it's like I'm like you give them all these resources risk Manager Psy um trading psychologist Etc how do they still fail he says that it's the individual right

it's the individual their ability to persist right their ability to persist their interest their passion their love for the game right that will uh help them push through the difficult times and help them push through the the Steep learning curve right push beyond that steep learning curve right so I've reached the level of of success and I I Was asking them can you know in independent Traders without you know all of the resources can they reach success I was just asking I'm just picking his brainer I'm at dinner I'm just asking all these questions right

this Abdullah the interviewer and he said yes he said a person without the resources that with a person without the resources but with with the passion the Courage the persistence can outdo the person with the Resources right they can outdo that person right so if you're on this call and um you persist and you look for the best resources of knowledge and learning uh you'll eventually reach your goal right um so I just want to reassure you I've talked to the I'm trying to bring the people from the top right to the channel so you

can see what it takes right now I quoted this on the webinar I'm sorry I quoted this in the in the interview I'm just doing some prep I'm Laying the groundw the foundation for the the webinar um I quoted this quote interested people watch obsessed people change the world you can't be interested and obsessed okay interested is a hobby Kobe Bryant was not interested in winning championships he was obsessed and Obsession comes in the small details that nobody pays attention to so when I as I begin to learn how the pros traded and adopted it

I realized that being a Trader um it it CS for us to pay Attention to the details and as we can stack more of the details more of the things that have Edge on top of each other and and and um and combine them it gives us greater Edge right so you know don't be afraid of getting into the details right writing up onepage paper at times outlining went a certain way right why I went bullish or bearish or why the Market's moving neutral right um the information that you have in the beginning especially you

should write as Much as you can um down okay um the details are very important now the goal for the webinar is for newer people that are newer to trading I want to mention some of the essential things that you need to be successful okay so I'm introducing why you need the playbook for those that are are more experienced I'll go into the details of what should be in your playbook as well as how to add new setups right when you when you study under a mentor a lot of times you Take their setups and

you never really learn the logic of how to build your own so in this webinar I'll also for the more experienced Traders we have different Traders here I'll detail out how to add setups to your playbook okay now most important thing that I want everybody to take away again is the only way for you to be successful as a Trader is by having Edge in the long term anyone can be successful for a month or two right you can get you can you can be Fooled by Randomness so you can be in the right place

in the right time and you can pass you can pass phase one phase two and uh get a payout by being in the right place in the right time but in order for you to have long-term success you have to have Edge okay you have to have Edge um right and the and the way to to build Edge and and to track it is by having a Playbook all right now just a quick introduction just in case you don't know me you may know Me from YouTube and social media I worked as an engineer for

12 years this is me and my brother my brother here he's the one that introduced me to trade them um uh he he started off with stocks right he had success and then I became a Trader because of him he became he became an engineer because of me I became a Trader because of him okay so this is me in the office right so some of you all are in the office right now uh you know as I mean like you know Dayto day um and I've transitioned out and you know never really imagined being

where I am now right so what I did is I took the same keys of success I found the pros like Mike Bella Fury along the way found the other people like Lance breitstein Kuli other people um along the way so that I can learn how to become a professional Trader just as I studied to become and trained and become a professional engineer right um and then that led me to you know sitting Down being able to sit down with him today I've been watching him for a long time corresponding with him for a long

time eventually I was able to sit down with him and and bring the podcast to you right so um you know from engineer to struggling struggling struggling struggling getting paid out um passing challenges being um being honored as one of the top performers uh in in the industry being invited on podcast Etc right um and then taking that Knowledge From cfds to Futures like we're in the Futures game right so pass and challenges getting payouts in the Futures game right and then moving on to to share uh what I've learned uh with others and guide

others right so I have an interview coming out with uh one of the students his name is Brandon he talks about how I introduced that concept of Playbook and how he used that to he gained 50k in payouts just uh since uh January this year right um but He's been trading for um a good amount of time uh but you know we had an impact so the power of the Playbook is real the power of the Playbook is having effect on myself and real people okay and it will have an effect on you as well

okay now what are the skills of the consistently profitable Trader right so this is what we want to become um we want to be able to consistently make money and in order to to make um in order to make consistent money uh I've Adopted the ter term from Mike B Fury the CPT right the consistently profitable Trader so if you have a goal uh your goal to should be to be a CPT consistently profitable Trader meaning that you can make you have green months right you make money every month right and then you eventually as

you continue to grow you get to where like Lance said he said for six years he had he had almost no uh red months all green right the majority of the week he was green Right you can get to this point and I'm going to lead lead you to uh how how to how to get there uh in this webinar right so the skills are I broken them into four having a Playbook with Edge right and being able to identify setups that have Edge um risk management um the psychology that's necessary to show up every

day and have discipline right and then performance performing every day executing every day live trading every day doing your analysis every day doing Your um analysis every week right forming your game plan and sticking to it right so that's there's there's four to me there's four core uh pillars and the most important is having a Playbook with Edge now the four stages I believe are there's a stage before consistency that may be stage zero or negative one negative2 however you want to put it um but there's going to be a time when you're losing money

then you're losing money just a little bit and then you Break even and I I just remember being at the stage where I was break even and then you move into um the stage where you're consistently making money right it may just be a little bit at at first but if you can get to this stage all you have to do is start to scale and trade more of those um setups uh better right the setups that that you can trade or that have you um you know that that brought you to that consistency level

right so consistency is the first stage And that's what we're going to focus on in this particular webinar okay getting to that stage of consistency then you size up then you do you add more setups add more complexity okay all right so uh just a quick statement from Lance again most failing Traders wrongly attribute their struggle to issues of psychology and risk management the reality is most have zero Edge right so now what is Edge okay they're naively Fooled by Randomness into thinking their WIS are Edge this seduces them to troubleshoot the wrong problem so

most people uh are you hear influencers talk about how Psy trading is 80% psychology to each his own but I don't believe this the reason why is because and and I'll show you in a minute here's a quick uh just uh another selling point right so a lot of people are focusing on um psychology risk management and performance and they aren't going anywhere and the reason why they aren't going anywhere is because They don't have true Edge in the market okay so you can be improving all those things uh you can be improving your psychology

you can be meditating you be praying right um You can be going to a trading formance Psych ologist uh but you can be managing your risk very tightly um and you can do everything correct but if you don't have any real Edge in the the strategies that you're you're trading then you will struggle you won't go anywhere okay so that's What this this webinar will aim to reinforce now the easiest analogy I can give in um is the slot machine versus poker right so um I don't actually play slot machines or or poker but I

think a lot of people can can connect with this and and I'm explaining it now I'm going to give you one sentence though one sentence but let's say you go into the slot machine in the casino and you pull the lever most people won't have any expected outcome right from pulling the Lever they think it's maybe 5050 or even worse right they just expecting to lose money maybe they'll win sometimes um but the poker player if the poker player can get the right hand right uh and get in the right situation and have the right

skill of playing that hand and reading other faces right that poker player can make more money because they can have a set of things that line up in their favor that's what we're trying to do we're trying not if you're just if you Don't have setups with Edge if you're just take taking you know uh random patterns or or or someone taught you a system that doesn't have Edge you may literally just be in the casino You're just showing up every day and you just pulling the lever but the setups that have real Edge are

like the poker setups where through data uh you back tested or found out that they are the right hand to have and you I can identify when having that right hand is the right Situation the the right Market session the right time right and then you have to be skilled enough to play it right you have to be skilled enough to to play that hand okay so that's that's the idea from an analogy standpoint okay now here's an example A lot of people are showing up and trading in this okay this is oil crude oil

the idea here is to be able to differentiate between this type of Market it's hard to trade this versus this aggressive Direction okay so when you have this choppy movement it's hard to trade this as easy as it it may look like it's just it's easy to trade between two uh points in a Range but it's hard because you don't know uh how far price may move outside of that range to take out your stop loss no matter I don't care how many supply and demand order block fair value Gap like liquidity strategies that you

uh that you use trying to trade this is Extremely difficult okay so these are the moments this is a hand like if we use the poker analogy right you dealt this particular hand you don't want to play this uh when you have this particular hand this not the hand that you're looking for okay you're looking for you want to identify and be able to identify the times when the market are going to move aggressively in One Direction it's hard to make a mistake the RIS Management psychology Etc when the market is moving so aggressive in

One Direction even if you have a bad entry you're still going to make money okay so this Workshop is is designed to teach you about the Playbook but also uh we're going to get into a little bit probably maybe part two or three as we continue we'll get into how to identify that the market is going to be moving aggressively in one direction does this make sense droping one in the chat if It's making sense so far so alhamdulillah that's from our people uh people say mashallah that means uh praise be to God all right

let's go let's do it now now what is Edge by definition Edge by definition in layman's terms we'll use that first we use layman terms layman terms okay so uh the layman terms definition is I have these windows they blocking my uh my view okay um an edge an edge is a strategy that gives you a profit Advantage in the market okay so in order to earn a profit over time it is necessary to use a trading strategy that has a trading Edge to help the probabilities tilt in your favor over a series of Trades

okay now the technical definition is um it is a trade or strategy that has positive expected value that so when you hear Lance say positive expected value or one of the pros it's a positive expected value um that means that um the amount of wins That you make and how much you gain is greater than the amount that you lose basically right so you net positive okay so if I take 10 trades I net $1,000 that that strategy has Edge okay if I'm net positive POS so another visual just to make it drive the point

home again is let's say I'm taking losses loss I have several losses here right within in my trading days but at the end my uh my strategy LS me in net positive I'm funded or I get payouts at The end right so we want to have strategy that even we're going to take losses you are going to take losses we are going to take losses um there are some strategies like Lance mentioned there's some strategies where expected value is 90% win rate those are more rare right where the the OD everything is stacking up the

edges are stacking up so strong that you have a 90% win rate but for those that aren't that's not every day those aren't necessarily the Easy Money trades um but you want to uh ensure that your strategy at the end of the um series of Trades you have positive expected value okay now here's another visual so here's here's the thing that a lot of people Miss okay this is for all my people that's all if you're in ztf want to emphasizes point to you okay so you know I know you've all seen this where if

you have if you win this is the the relationship between the risk to reward and win rate so this Is Win rate here with a 20% win rate one to five RNR you can be net positive okay so if you if you as you move over here um to 30% 40% 50% Etc you don't need as you don't need as much R like you don't need as much return right to be positive right so 50% win rate with a one to2 RNR you can be net positive right so you lose half the traits and you're

still net positive right 60% you can go one to one and you'll end net positive right but here's The thing uh and this is so it's so funny how the retail space like online the social media space YouTube space it's so funny how we learn maybe like let's say supplying demand okay supply and demand and that's it and we base our total trading off of that versus the pros what they're doing they're constantly stacking different things to help increase the win rate okay so they so if we're at 60 they're trying to see how Can

we get to 70 and there's ways and I'm going to I'm going to I'm going to tell you I want to tell you how okay right so just all about Edge just talking about Edge at this moment right so so the edge here is if you can have 60% win rate and at least a one to one or one to two then your strategy has Edge but you want to be at a 60% maybe one to three right because psychologically you'll make more money and you you'll win more and you you'll Make more money when

you make money right um and then there's ways to to have a higher uh RNR and a higher win rate right as Lance mentioned like some some things would be 90% uh win rate and I and I've witnessed it and I and I'll explain as I mentioned I'll explain okay so any questions so far it's not entirely true uh which one is not entirely true let's talk about it and make it bigger when you are winning oh you're saying that um you're saying uh If you if you scale in okay maybe drop me a paragraph

there Tony let me know what uh what you're thinking okay or maybe we can discuss a little bit more um also not entirely true cuz you haven't factored in spreads commission fees uh swap fees yeah but um let's we're just I'm taking it in general like in general cases right uh that you you also do you you have to um factor in your uh spreads commissions swaps if you say something is not if something is not True just drop drop in the chat like what's not true because I'm not sure what uh what you're talking

about okay yeah class is recorded this is my this uh this is with only beginners information I'm not sure what you mean by that one the law of numbers you're the man I 20% of Trades will make the big money what if you what if you only set stop losses when executing trades uh what do you mean by only setting them when you execute the Trades it's hard to have one to three think different traes targets dep on Supply demands on uh okay all good Abdullah you killing as always I know your course by hard

and I always learn new things if you hold them and have bigger positions fees and stuff that's another subject if the spreads and commissions make that of a difference then your Edge probably isn't too much good yeah that's that's what I was thinking like uh okay I struggle to Find the assets that are in play for the day okay we'll talk about that so I'm losing to trade I'm losing to trade assets that move aggressively in One Direction how do I pick the asset that's a big topic can you go more into detail DET about

how uh the professionals try to turn yes there we go that's what we getting to how how professionals turn have a greater win rate right okay uh especially Forex Salon brother how much back testing is enough for an edge Sometimes the difference in performance is made in only two weeks out of the quarter yeah that's right uh okay what software tools do I need to uh practice Futures Trading uh so if you I would recommend you grab an account from Apex grab a cheap one maybe like $40 for the account and get the trade oade

account which you can trade in trading view you can use trading view um and just start there since if you already use trading view you can trade Right in trading view with trade over account I then that's a good one okay all right how do you get your daily buyers all right let's talk about that so let let me I'm G keep going and we'll we'll get so this is not this is only part one right we'll dive deeper uh into the workshop uh more and more okay all right so So eventually what happens is

uh you have you have a Playbook right and then you you have setups so you have different setups right for Different occasions you're like one setup is not always going to be in play okay so as you conquer one then you move on like I have I have four different scalp setups that that I trade then I have intraday setups that I trade then I add I'm adding swing trades as well right so as you as you get comfortable and you're able to to to to trade some of your setups very well then you add

more but if you don't have any at all then you then I recommend you focus on Just getting one or two or or or three that's um you know that's uh that that you can trade very well is it true that you need 25,000 account to trade Futures no absolutely not that's that's the trade stocks to trade equities you need 25k to trade uh to trade more than uh three times uh a day all right so now now let's jump into the edge okay one thing that um a lot of people are missing okay just

in the in in the retail space Like um there's a few things that a lot of people are missing okay that I found that helped me tremendously uh and it's just a norm it's a norm for a lot of the pro Traders the thing is is that if we go back to the the the example quickly right we don't want to be in this we don't want to be trading in this I know people that were trying to trade Euro USD and pound USD in January and they were getting chopped out just because they were

Trading in the chopp market right so we want to be able to identify beforehand before we trade want to have a way of knowing or being able to identify that what we trade is likely to move aggressively in One Direction okay so here are some things that will help us okay so number one is a fresh news catalyst so and I'm going to give you an example right here news people people talk about um people talk about how fundamentals don't matter but outside of The chart there are actually a lot of things that are going

on right so if you trade indices for example interest rates inflation stock earnings move the indices no doubt about it right um if you're trading gold for example when they announced when the announcement came out in October 7th uh we saw gold massive bullish run when the Ukraine war Ukraine Russia war was announced massive bullish run it's it's a it's a Safe Haven uh commodity right so these are There are real things that are happening outside of the chart right if you become aware of what let's say you TR you trade oil you if you

become aware of what makes oil consolidate and what moves oil then that gives you an advantage right so one of the things that I believe a lot of people uh neglect is understanding how uh fundamentals or just fresh news uh influence it is what they trade okay number two um number two would be and this this This this isn't in any order right but you need volatility okay so understanding that you need in order to to to trade in One Direction you need that volatility and that volatility can be caused by the fresh news or

you can identify that there's uh more volatility by valuee okay and a lot of people in this Forex space they don't use volume because the volume is practically useless from the um the cfd uh space because we're we're B bro we're B we're Trading B book with Brokers like so we don't have access to real valuee but in the Futures Market in the stock market what's underneath price price action like the candles is you can see the volume that's being traded so you can see the conviction of people before pre-market you may see high levels

of volume higher levels of volume in pre-market or after the Market opens and this can help you understand or um if the volume like the relative volume if It's higher than the relative volume like let's say volume is at a certain level and after the market open volume is significantly higher than even other days that also can give you conviction that there's going to be a higher amount of volatility if you look at right vwap right if you look at uh if you go and compare the volume of oil uh in these days right versus

uh these these trending days it's Going to be it's going to be different so my recommendation is okay then the fourth one let's talk about the fourth one the fourth one is strong technical patterns right so uh I've adopted a uh I've adopted a system of grading my levels okay so when a lot of people say it's a strong level that's arbitrary or that's ambiguous it's vague just to say it's a strong level but levels can be Seven 8 N9 10 right of levels of strength are Different based on uh the the um based on

the the characteristics B based on the characteristics of the level right so if you have a level that hasn't been touched since 2015 or hasn't been broken since 2015 every time the level comes to 2015 I mean uh since 2015 every time the level comes up every year and it just it it's it forms as a strong resistance and price turns uh reverses the other way that's a level 10 right versus maybe a one minute level which is a has a Different rank right so having strong technical levels and strong technical patterns is another way

now once you have these things start to stack up let's say you have strong news catalysts strong volatility right high volume I mean not strong volatility High valume uh and strong technical patterns this is what makes the A+ setup this is what makes the setup that you get larger in because you have several confluences stacking up and these are the setups That maybe you take these once a week or maybe just two or three four times a month and they uh contribute to the majority of the p&l that you have for for the month okay

so if you're just starting out you're going to be drinking from the fire host you're going to be learning a lot of technical patterns um but as you start to to grow what I would what I would be trying to figure out one thing that's that should be that should go in your playbook that should Be like you should be thinking about all the time is how to differentiate between when this is going to happen on what you're trading and when this is going to happen and I promise you there are indicators there are signs

right sometimes you just have like you have something that may seem random and that's going to happen just because uh there are a lot of people around the world doing different things right so you may just have somebody that's Liquidating a lot of something for for a reason we don't know but if you have a big theme happening and you have a large large move that continues throughout the market a lot of times there are indicators there that you can look for that will help you that are just sometimes they're technical but other times uh

they aren't okay so a lot of times when people get chopped up here um there may be other other variables that you can you can use uh that may that may Beyond like just Mar the basic Market structure so any questions so far we're going we're moving any questions about the Playbook the system uh fresh News high volume strong technical patterns Etc um the reason I the reason I want your questions is because this is only part one right so we'll continue to have these discussions and by based on your questions I'll know like what

to include in the next you know in the next set of um slides in the next part okay all Right how a question bro I apologize for interrupting I'm at work so it's kind of hard for me to type yeah go ahead but um my question is that all right so so I've been trading for like trading for like like I probably say it'll be three years in April right and I'm kind of I'm on the verge of literally being profitable like I done got funded payout I mean uh funded accounts and got payouts and

literally like a day before my payout messed it up but in addition to that I Feel like it's because and I feel like a lot of people are dealing with this as well it's because like my financial my financials aren't necessarily where I want them to be but I'm still trying to trade so I'm like stuck in between um like I'm actually at work right now like I said I started working two jobs I'm in between trying to um pay off my debt and then trade again or just trying to trade and while while um

while I'm still kind of in debt um but I feel like it's a Psychological thing because I know how to trade like like I know like I know my strategy like the back of my hand but I feel like my psychology is kind of messed up because of my Financial so I'm just trying to figure out like what the exact problem is in my uh in my in my strategy like I don't know if it's if it's the edge or what it is exactly but I do believe that it's it's partially The Edge because there'll

be there will be times when like you said like like I'll be profitable and then it'll be uh like a week like I have like a bad day Monday will be bad and then I'll take a break and then I'll come back and it'll just be like a downward farward in a way not necessarily like Risk Management but just like psychologically you know what I mean yep yep so all right there's a few things there bro number one if you don't have stability like financially it'll be hard it's going to be hard to trade so

that's that's the first thing To think about you know um even when you go work for a prop firm like Lance talked about in the podcast they pay them a salary you know what I'm saying just so that they can at least be alive you know so if if you having that turbulence financially that can cause a problem so I would if you take a step away from Trading to focus on getting that stability it's not a step it's not it's like a step back to take two steps forward right it's like taking one step

Back to take two steps forward so don't think about it as if you know you you're going away from Trading that's the first thing I would say to you the second thing is the way to find out if it's psychology or not it's in the data so you going to have to dig into you're going to have to use what we're talking about here uh by creating these setups somebody asked what's the difference between a Playbook and setups right so for me um a setup is it's going to be It's going to be all of

the rules and I'm going to break down like what a setup is in in a minute right so a setup is going to have all your entry exit and trade management rules okay so that's like your that's a setup for example okay so I may have a buy setup a a short um a sales setup and the Playbook houses all the setup okay so you can have three four five setups inside of the Playbook okay so if I had I used to carry a binder my binder was my playbook just Think about like if you

ever played sports for example right so you may have uh in sports you have a coach they have a Playbook and you have different plays in that Playbook that you execute at different times so that's what the this concept is you have your playbook and you um you you know execute those different setups at different times when they're um appropriate or when they're in play right so the the concept of of something being in play is if you think About sports let's say a Kobe Bryant for example the if if if there if if there's

a tie winner and he has the last like somebody has to take the last shot Kobe Bryant is in play um may he rest in peace right because he's one of the best he was one of the best uh like to ever live right or Stephen Curry who's living now he would probably get the game-winning shot he is in play because of the circumstance in the scenario so when you have this Playbook you start to Learn how to deploy these different setups in different circumstances um and it take it all takes time right so I

hope that makes sense so now for you bro that ask the question um I don't know if you have your setups documented what you're going to have to do is you have to sit down and review all of your data and find out uh like it's two things like number one you look at your um look at all your trade setups and this takes discipline it takes time it's not easy But this is the way to find out if it really have Edge or not so you sit down you uh label all of the trades

that you have you tag them with a name so I say like if I say um you know uh X right or setup a all right so you can tag in all the setup A's and you look at your data and then you say okay setup a is is it positive or negative right um and you when you look at setup a you want to document like when it when it loses and when it wins if if it was according to Plan or if it was random right so sometimes you may take a trade and

it's just you have these random wins but you want everything that's in your trading data to be tagged with a Playbook name either it should have a Playbook name or you should just label it like random trade or something like that right um and then you look at your data and you should be able to tell by your data um if you are positive over you know a certain amount of time or not right so We'll talk a little bit more about it I think I can answer your question a little bit more uh once

you know as as we go into it um as we go you know get further into the webinar uh thank you does that did I answer a little bit of it yeah definitely especially the the the so I was kind of confused when you were saying Playbook and setup but the way you just explained it with with Kobe and taking the last shot I understand what you're saying now it's your Situational yeah and it's situational that's right all right so I'm G answer a few questions here how to find news so it all depends on

what you're trading right uh if you're trading indices indices American indices us indices are impacted by everything that has to do with the fed and the US data releases right so you can find that news on Forex Factory uh investing.com or and then earnings earnings releases you can find those on Like a finviz.com you can find them those on trading view there's several different sites right uh for that the news you can get from Forex Factory at a base level but we can you know what I'll probably just do like a whole uh whole do

I'll do like a whole thing on news like uh during this month as well okay will you send a recording yes what kind of news effects us3 like from where uh to get it from uh okay I I'll explain a little bit more about that is a Playbook Based on what moves the pair stock or our best setups okay so that's that's a good example that's a good question so the question here is it's important because what I've learn learned is that the symbol symbols have their characteristics but mostly everything that I've traded they all

move um from one of these three things here the fresh News high volume or uh strong technical patterns one of these three are our indicators that these symbols that the Symbol whatever you're trading is going to move so once you identify so it's like a it's like a principle so that that's the principle but you may have to identify what specific news will move what you're trading okay so once you understand that principle right um now your job is to find out okay if I trade let's say I trade um padium right uh let me

give you I'm G give you I'm G give you a real a real hard example uh with nas 100 so I know I Know indices like the back of my hand so I know what fresh news moves the indices in our Trader X group we know what moves the indices and we we're waiting on it right that's there's specific us like news like CPI for example CPI uh moves the indices you'll see it moving the indices certain certain earnings that come out from certain stock companies move the indices okay all right so when you whatever

you trade you have to take this principle of the Fresh news and start to research you can ask chat gbt like what moves gold and chat PT will tell you or will lead you in the right direction So eventually what happens is you have your best setup and those can can you can move those around and trade different things but as you get used to certain um you know certain specific like sectors right you may have a specific like Forex may move specifically based on certain things more than others you learn those Specifics and then

you're able to like take your maybe one setup that you have and you A variation you apply to you know uh some something else that you trade like a different thing that you may trade right natural gas like energy energy Commodities may move a certain way and metals may move a certain way right so that that's an example but it just takes time to to uh to learn that right so let me see what do you think about renco bars I never used them I Never used the renco bars all right so let me show

you this is a trade uh that was Nas 100 I just want to show you like an example okay like what's in the what's in the Playbook okay so this a Nas 100 Trade and um like what's inside the Playbook let's get into that a little bit and then we'll continue okay for the Playbook do you have um to add a Playbook along the way I'm not I can't really uh understand your question can You rephrase it for me all right I am right to say Edge is equal to a blueprint or a bigger picture

okay how many setups should we start with towards making a Playbook I I say just start with one like Lance he talked about starting with one and that's how he had a breakthrough right for me it was just two I had I had a buy version and a sell version right just start with one okay start with one of those right and then just refine it right become good at it Forward test it back test it right get data as much as you can and then forward test it Forward testing is when you you trade

the setups you don't give it a lot of size just maybe 01 you trade the setups with small size so you can see the outcome of what happens and then you can look back at the data all right so go deep in your in in the YouTube video Lance said that you can start taking your setup in the live market after five data points what are your thoughts on That how many data points minimum should uh minimum should we collect to validate our Edge all right so so this is a great question uh good deep

there are certain scenarios that you can back test where you have a lot of data so he if you listen he says like if you get 50 data points that's a great data set but then there's some like maybe uh CPI trades that don't they don't happen a lot right because CPI or inflation types of releases uh may only come out a certain Amount of time uh like in the month so you may not be able to gather a whole lot uh of that data so what he was saying with the five points is basically

if you can you start to forward test it you put small size and as you see and understanding the underlying principle though those those three underlying principles that we can't like move away from that is with the fresh news the strong technical levels and the high volume no matter what the setup is They're always using like a combination of those or one of those right so whatever the setup is that you may have that has five data points um you have in my opinion you be using one of those right you be using one of

those as as a base to say okay we are in play because we have one of those things going going for us right um and then what he means by putting the trade on in the live market you put it on with small size and then you maybe after a month or so then You look back and you start to you start to see okay I have more more data points right then I can increase the size right so that's that's that's how I I read it um when he said it and he said 50

he said 50 was a good point um as well uh in the in the interview okay do you allow yourself to enter again if you hit stop loss or that is not professional no absolutely if you get it's so it's professional to REM it's unprofessional to remove the stop loss and then um it's Unprofessional to remove the stop loss and let and and and let the trade run against you it's professional to let the stop loss be hit and then you re-enter if you if you still have confirmations okay all right so for testing should

be done in demo or Live account it can be done in either or in demo you can do whatever size in Live account you can just do with small size the the importance is gathering the data if I I prefer I'm preferring more and more to Do it in the live live account but you just got to put on 01 like the smallest size ever but if you if you do it in the demo you do it for a while but you can do forward testing in in a live account you just have to go

um the smallest smallest amount of size as possible okay all right so all right so all right what's in the Playbook okay now when you document a setup what you're going to be documenting is um and this this is the framework that Mike Bella Fury design Big picture the big picture Outlook what's going on from a big picture standpoint they the intraday fundamentals okay what's going on intraday if there is fundamentals or not uh technical analysis like if you need fundamentals to move uh to trade this type of setup right so some setups no fundamentals

at all some setups you need you need fundamentals okay um number three is a technical analysis like what um what are the technical levels are you What what's the market structure look like what's that daily bias right you said I can't form I can't find my daily bias or weekly bias right right what does that look like um sometimes it's not clear and sometimes you may not need to trade if that's not clear for you right um sometimes the weekly may be ranging but you can trade within that Weekly range right um so defining those

things what's the order flow look like or or what does the volume look like Right so in my scalp setups the students that are in my scalp my scalping uh group um they know that I talk about okay volume as the as price is ranging and then volume comes in as the as you break out of the range you want to see high volume when you break out of the range and then as you're reapo muching the the range that you broke out for the retest you want low valume and you want price to grind

back towards uh the range the the what's now support for you to Enter but if you come back with strong volume then you're not going to enter right so having those types of details are very important when it comes to um the setups and then another thing is intuition intuition you don't necessarily have to document it but just what he what he put in in here he put intuition here as uh just as a reminder that you develop more intuition as you trade right so a part of taking setups is going back to that poker

analogy a Part of the skills developing this intuition right when you see all the confluences and the variables there um a part of like your subconscious kicks on and you take those trades okay so so so you can't negate that part of it if you never built a Playbook what I want you to start with is the big picture what the big picture looks like is is this for example this is a setup um are you trending and what what are you trending up you trending down are you ranging Right um what's the what's the

fundamental Outlook what's the theme in the market I'll give you an example in just a minute okay so that's the big picture like what's going on from a higher level right what's going on like it can be inside the chart or outside the chart it can be what I mean by inside the chart when you talk about that daily bias like what's the daily bias are we trending upwards trending um or trending downwards are we are are we In a Range what are what is the theme of the market the theme for Co for example

Co 2020 right March 2020 um we're in a massive bearish run to the downside and the big picture There Was Fear uncertainty people are liquidating stocks right uh because of that fear and uncertainty right so that's a theme that's the bigger picture thing right and this Nvidia trade that I'm this Nas 100 Trade I'm going to break down this one here the overall theme of the market Is bullish because inflation is going down and the FED is going to cut the interest rates and when the FED cuts the interest rates that helps boost the economy

businesses do better so investors are investing into the stock market right the a u tech is doing extremely well so this is a big picture Outlook right so as a Trader you may say oh that sounds too like too much trust me the more you do it the more you become used to it and the better you'll Become as a Trader okay by being able to have an outlook on what you're trading being aware of what's going on with the symbols the pairs the the index or the commodity that you're trading um and it it's

hard at first because I couldn't conceptualize being where I am now but trust me um the more you do it uh the easier it becomes all right now intraday fundamentals you can start with whatever you're trading currently and you can research and look at all of the data Releas P that come out on Forex Factory and how they impact what you're trading okay so I I have a fundamental score if you want to take that that will help you out right but I've learned the types of fundamentals like the back of my hand that move

the indices right so I'm right there every day that fundamentals are coming out at the beginning of the week I know what's coming out I know that this may be a day that offers a lot of volatility for me to trade right so Taking the time to to just research that you have chat gbt we have a lot of resources at our hand this is um this is you know this is this this will help what is the three-h hour time frame is downtrend and daily is uptrend it all depends on where you are so

when I say big picture understanding if you're on a daily right that's your big picture Trend you're looking at that Trend and you say okay I know I'm in an uptrend and if you choose to take a counter you Know that you're taking the counter so you don't get um side sidetracked right or you don't you don't get um you won't take hit because you didn't you didn't know what was going on in the bigger Trend right um so it all depends on your your strategy and what you're doing where you're at right so that

that question U needs more needs more information okay all right so uh can you can you explain for example today or yesterday fundamentals are indices on Outlook I have to do it I have to we'll run out of time because I'm G to have to break my fast um so we we'll we'll get into more details uh okay for like this week we'll look at this week and um I'll talk about I'll talk about it more in detail right so technical analysis now now okay so I have my big picture I have the intraday fundamentals

right um now the technical analysis uh when it comes to the Zone what's the level Zone that I'm in right Um how am I going to do my entries right so I have specific entries for my scalp setups we have vwap we're trading with vwap we're trading with nine EMA so I say hey look when this happens enter right when this happens exit 50% and let the other 50% run right um how we're going to manage a trade we're going to go to be all the all of these details the more the more details you

more detailed you are about these setups um you know the better uh and it'll help You when it comes to tracking what is working the best okay now order flow and valuee reading the tape as our brother mentioned um from IAT right so convergence Divergence high volume low volume Etc all those things should be documented for your particular setups now when you document a setup you you won't have all of these you may you may not have intraday fundamentals right so this is just a framework to help everybody uh uh you know to get started

Right so this Nas 100 Trade I had Nvidia was intraday fundamentals Nvidia was announcing its earnings and Nvidia is the third largest stock right so Nvidia is the third largest stock and I know that um Nvidia is going to move Nas 100 because it's the third largest stock right so that's my intraday fundamental uh my intraday fundamentals for uh this setup right so that's what was for this particular um setup I'm going to have to get into the setup some more uh later Just because of time um but but I had a huge setup the

one that I mentioned up up here right oh yeah here we go yeah it was a huge buy right huge buy setup and the buy setup um that I that I that I took was because uh of that Nvidia trade right so me understanding that no matter what I don't care what anybody says if earnings are strong the B the the the Bulls are going to run everybody's trying to time the turnaround on the indices trying to go bearish but we have Strong resilient earnings especially from the top uh companies then we're going to go

extremely bullish okay all right so now any questions up to up to now um I just wanted to say hi first of all yes I we had a one-on-one call back in January 2023 yes I um I often post I'll put my video on if you like I often posted my profit shots um yeah you know yeah jonno that's it you you messaged me the other day you want to do an interview with me Which I accept it was just tra trade management um just a tip for anyone if you want to add it in

their playbook I decided to take to a whole new level because I struggled with um taking losses and I was often moving my stoploss which was against my playbook so I decided to speak to someone on Fiverr and actually program a bot and put it on a VPS on my metatrader which would just cut my trades at a like predefined maximum loss And it's helped it's completely changed my my trade management cuz I know that that's going to happen so I'm not going to go against my stop loss if I ever did my the bot

will just cut it off and I've added that into sort of my playbook mine does look a bit different to yours but it's still after we had that chat a year ago when you told me to just stop trading real money and just get on the demos and proved myself it completely changed my trajectory and my journey and Now I'm funded multiple times and Everything's changed I trade my own personal Capital it's it's changed completely so I thought I just jump finally jump into one of your webinars because I'm always busy or asleep so yeah

no man thanks a lot man we're g to do the interview man um I've been interviewing a lot of people that are outside of our group you know like Lance and and trying to bring Pros but also I'm going to interview people that um Have had an impact on profit X or are have been a part of profit X right just to show how everybody is independent um and growing you know in their own ways right like you you implemented this box this this bot right to help you right so man congratulations man I'm so

I'm so happy for you um and I want to schedule the interview with you but uh yeah man thanks for jumping on and making that recommendation for everybody yeah that's cool but no keep keep doing what you Doing you know you helped me a lot just from that one call and it's uh I would I wouldn't be where I am now if I didn't have that wakeup call and you were just like you just need to do this I was like fine I'll do it and then it it got rid of so much sort of

angst about losing and all that kind of stuff and yeah I just I am where I am now so thanks for that congrats man congrats yeah I know you had like over a million in funding I'm sure you're probably like way above That now so well one one stage I actually had a hiccup but you got lose you learn from your mistakes I lost a lot of the funding but now I've got it all back but now I'm much more consistent yeah um and I trade a lot less without that sort of um my psycholog

is a lot better now to just put it that way there uh I'm I'm not Revenge trading anymore I'm much steadier and uh yeah it's I'm way more comfortable in my in my in my own skin When I trade so man that's good that's good man I'm so happy for you man um yeah man so yeah so cheers man we're gonna I'll have you uh on the on the podcast so we'll do like we'll virtual one at first so I'm just doing because it's easy right since I'm in the US and eventually like I'll I'll

try to get out to you to the UK you'll be welcome yeah okay so we have so many so many things to cover um any other questions About the Playbook just for tonight um if you uh so I said if you stuck around I'm going to give you a link to a free uh Futures template so I'm going to grab the link for that here so that uh everybody that doesn't have the um not Futures I'm sorry Playbook template so everybody doesn't have the Playbook template the notion Playbook template uh you can you can grab

it but I'm drop in the chat I'm going to save the chat and uh I'll use the question that we didn't Get to to form the the next webinar right so next Sunday we meet okay this coming up Sunday this upcoming Sunday we'll meet again [Music] okay all right so um all right now the process of building a Playbook it's rather simple um from a high level and I'll tell you where the difficulty comes now step number one is defining the strategy okay we're going to take one strategy in our play we have a Playbook

We just have one strategy you don't have to have multiple strategies in the beginning you have a Playbook if you have one strategy if we equivalate this to if we if we use Sports as an analogy if I am a basketball player and I have a basketball uh we we're a team and we have this one play that we uh we know you know we we want to test it out um we're going to Define it right the coach is going to say hey look okay Abdullah you're the point guard I want you to Dribble

down the court and I want you to pass it to um Robert okay want you to pass to Robert now Robert when you get the ball I want you to pump fake and then I want you to pass it back to Abdullah and Abdullah is going to swing it right etc etc etc right so the coach is going to Define that strategy and this strategy okay he can invent this one right or he can get it from someone else my advice would be for everyone on this call if you want to cut down your Learning

curve find someone with Edge and learn from them flat out okay that's what I would do and then you start to personalize the strategy okay so first is Define the strategy that's number one now secondly you need to prove that it has Edge even like when I add new place now I'm still adding place right as I add new place I have to go through the same process I have to prove that the strategy has Edge when I first started Trading I remember um I was trading GN okay um pound New Zealand dollar and I

was getting beat to death on a downtrend looking at Double bottoms like I was it was on a downtrend and I was just seeing these double bottoms and I'm buying every time because I first started my I had this double bottom entry model this strategy I learned from this guy he just made stuff up and I was getting I was getting punished uh on a downtrend and I just look back and I'm like wow I had no Awareness of anything fundamentals uh you know higher level higher time frame Market structure Etc so one of the

things that will help you is your if you have a mentor or someone that's more advanced they are aware of things that you aren't aware of right um so that's that's when it comes to defining the strategy that's an important step now proving The Edge now here is a part that most people Miss I missed it totally I had no clue of what this was at all okay You want to gather data and this is how you prove that the strategy has Edge okay you want to gather data now you can gather data in a

few ways okay I'm going to talk about what what's like the common data just the the bare minimum if you want to just get started okay you back test back testing is basically Gathering data with historical data okay historical Market data so defining the strategy what does that look like okay so here here's a scalp strategy okay all Right so steps for the scalp okay this is what a definition looks like I talked about um what's inside the Playbook last time and um you know this from a high level but I told you this webinar

I'll get more detail with it okay all right so what do the definition look like let's talk about that okay what's the definition look like okay so Define a strategy all right here's one the symbol that I'm trading has to be in play now I have a whole definition of um knowing That something is in play all right and that's what I was talking about most people missed the step to even to uh it's a step that would say should we even be trading this thing is oil even worth trading right now is Nas 100

worth trading right now right is um ym us30 worth trading right now that's the first step before entry model if it's not worth trading to day I'm out I'm not even looking at it it's off the watch list it's off my game plan list okay so That's a step and I just I don't have to write this out because I have have a whole another definition of Inplay for myself okay but now once I know it's in play then I have the symbol is ranging okay on the one minute okay 15 minutes at least two

touches okay so this is what I'm looking for I'm looking for a tight range right there's a breakout of resistance or support we have the breakout of the um of of this uh of this range okay then the pull back happens so This is all defining setup when the when the break happens I want to see higher volume uh I want to see higher volume coming uh than the average volume so average volume is here right so I want to see higher volume as the price is breaking through then as price is coming down I

want to see a slower move back to what is now support right so this is definition this is defining right entry rules I have entry rules right how will I enter I have stop placement I have I Have how many attempts somebody asked me last time do you enter do you re-enter your trades a lot most of them I do right but some of them are like one and done right these are all like types of rules that you can add you get more uh and more nuanced as you uh as you can so that's

definition that's a part and you get more more more Nuance this isn't just example okay so from there you got to prove it now I have my definition I have to go to I go to the historical Data okay now what am I looking from the historical data okay so once I Define it I go to back testing and I go to my historical data now what are just some some common things that I'm looking for from the historical data okay I'm looking for my net profit and loss so I'm going to take a sample

size let's take maybe 30 trades 30 40 50 trades okay and I'm going to maybe let's say I have an account size of 100K account size of 100K and then what I'm going to Do is I'll say okay I'm going to risk a certain amount of money and I'm not you don't have to use the replay to do this the Replay for me is more of a training the eye when I'm back testing I'm gathering data so I don't have to replay like when people use programs to back test data they just write a code

program and they write their criteria and the program runs and then spits out the data for them right when you use the replay the bar Replay for me is training the The eye so a lot of people at this step in my opinion they make the wrong um they make a wrong choice by uh they start to replay something that hasn't been back tested so what's the problem there I'm let me ask you a question let's say I Define the strategy right here I don't do any back testing I don't I don't prove that it

has Edge and I start to Bar replay it and I start to train myself to to see it in the market what's the problem here what's the Problem if I start to do that with without back testing it what's the problem it is an open question for everybody yep everybody yeah ER you're talking about what happens when you do this strategy without back testing it yes like uh either you trade it live or okay I think if you bar replay use a bar replay okay so I think you know this strategy probably won't be you

know that that straightforward you know you don't know what's going to happen you think That the Strate the strategy will work but you really don't know that because you haven't back tested it sorry for my English man I'm it's okay for other country it's all good it's all good yeah there you go you have established consistency or probability exactly I I love the I see the answers here uh somebody said gambling that's basically that's what it is right Brandon the OG is on uh yeah right so you have no idea you Have no idea if

this has positive expectancy you don't know how you have no idea if it has Edge so you're reinforcing bad behavior uh re somebody put recency bias right so I I I I suffered this when I first started I saw this pattern you know in the market and a market was trending up and I got used to you know playing this uptrending pattern and then once the market ranged I got killed once it went bearish I got killed right I had suffered from recency Bias I like that um so you have no data you have a

lack of confidence EXA exactly right so what we want to do is we is want we want to uh first we want to back test gather that data and here's some common things so we take 100K account and uh you we want the net profit and loss after 30 occurrences right we want to document uh also the average RNR and win rate so what this is giving you is you you know what to expect it's positive expectancy in a Certain Market as well because what you may find is also uh there are some different market

conditions what you need to discover that okay this trade Works in these market conditions it doesn't work in these right so I know for a fact that my certain trades I take don't work in a consolida market in a ranging market right I know certain setups don't work there because I back tested okay and I forward tested and I've live tested right um so but you Want to start you want to document these about your setup now how do you how do you determine the average RNR how do you determine the average RNR how do

you determine the average win rate okay when you go to back test I recommend you can do this on paper you can do this on Excel most people are back testing manually um what I normally do is I do something like this and I'll have I have these columns right I have one to one one to two uh one to three and this is Just an example one to four right you you create a little table for yourself this is going to be your results table you can do this in Excel um you can do

this on pen and paper right I did I've done it in Apple notes I've done it all kind of ways I've done it pin and paper so let's say you put a trade on so this is trade number one all right trade number one once you put this on you're going to say yes it hit one to one yes it hit one to two yes it hit one To three no it hit one to four okay and as you put these on what you're going to do is yay Nay Nay Nay right yay yay nay

nay it didn't hit it's a loss right and what eventually what you'll you'll come away with is a pattern you you you can calculate from the trades your average win rate that's one thing but then also you can look at your columns here and you'll see on average how many times did it hit one to one maybe 80% let's say how many times did it hit one to two Maybe 75% okay these are these are arbitrary numbers how many times did you hit 1 to three maybe 60% 1 to four okay maybe we drop down

to 45 % 1 to 5 maybe we drop down even lower right uh 15% maybe it's a big drop from here and these may be based on zones as well it can be it can be levels it can be zones this is just an example this is a this was an easy uh point of reference here uh to show you right um so now what you walk away with Is you know your you know it it has positive expect expectancy okay and some things to watch out for when you back testing as well like uh

bias right confirmation bias then there um there's look ahead bias and I'll talk about it okay so average RNR average win rate okay we walk away knowing those things so we have not only we Prov that it has Edge in certain markets right we we know when it doesn't have Edge okay that's another key and then also we have Some statistics so what what will do what will this do for the person that takes losses let's say we win on average I'm just using small numbers here on average we win six out of 10 all

right when I take four losses I expected that I expected to take those losses this this helps with the the Dynamics of the psychology a lot of people are just shooting in the dark so it's it's it's too much turbulent psychologically but if I know that I am expecting in the Series of 10 that I'm going to lose four that that changes the Dynamics of everything uh trade variance we'll talk a little bit more about it but any questions so far as I mentioned high level we can go we'll go more into detail yeah oh

yeah um yeah first of all I just like to thank you for um just host hosting the webinar and YouTube videos as I was really really helpful yeah the qu question I have is I feel like when when I've been Trading recently um i' I've just been struggling in terms of like trying to get playbooks together so mhm um so obviously I use like liquidity Concepts and stuff in my trading so in terms of say if I was to start with one Playbook or or two um how can I it so say if I I

was class one Playbook is like just using the Asian range so I don't know the London opens takes the Asian range and then it's still below that there in New York session the Asian High is still intact and then I don't know some kind of Market structure shifts happens in New York to then take uh you know Target the asent high I can class that as like one Playbook is that correct kind of thing like I don't know just call that Playbook like the Asian Asian low or Asian high for example that Mak sense yeah

yeah yeah so so all the way down to the entry and the the trade management right so like from what you just said so okay let's say like this is The Asian session uh trade and you're only going to take this uh going from Asian to London right so that within that time window there's certain things you need to see you want to Define it right certain things you need to see and then like what's the what's the environment what's the big picture okay yeah you're defining the big picture now that's your outlook okay um

and then you said okay you need to see certain Market structure shifts once you see those you Need to Define and as I mentioned like and when I showed the example I'm writing out okay this this is what I need to see right these are my criteria and then down to the entry okay how am I entering where am I where am I placing my stop loss where am I placing my TP okay then go even further all right um am I going to break even right yeah how am I taking profits I'm taking 50%

Etc that's one okay that's one setup right there yeah Okay cool so then just Collectively grab those exact same uh occurrences and then you know build them up into a sample size of like 10 for example as you said and then just L those down over time yeah there you go and and the thing about that is that this is free you don't have to like you can take this process yourself and you can do this when the Market's closed you know on the weekend everybody on the call like this weekend this is the homework

right for everybody this Weekend if you don't have uh like clear clearly defined rules and data like a the S say okay I don't know like one through five here you don't have that documented spend this weekend doing that don't take another trade until you've done that and try to take a larger sample size if you can like 20 30 40 trades even if you can yeah okay yeah well I appreciate that a lot thank you very much you're welcome man thanks for the question I think that's a question You're speaking for a lot of

people yeah that's it so yeah thank you you're welcome so all right so uh the thing is is if you listen to the podcast that I did with Lance uh Lance breitstein right he said in one he's like five trades is enough for some certain setups and at first I didn't understand this I used to always say like you need you need you need like a 100 okay you need a big number and for certain setups you do um for certain setups I believe if it's all Structural or not structural but technical I believe you

need more the way that I trade now it's based on um when the when I talk about the concept of something being in play there's an underlying principle below before I even get to uh like my technical chart right or there's there's an underlying principle before I get to my entry model this is what it is there has to be a catalyst for movement so the presence of the Catalyst I'm going to be back Testing that as my foundation for example here's a concrete example for fomc let's say I go back and I back test

every fomc event um and what I mean by fomc let's let's use the FED funds rate um I go throughout the year and I go and just back test um how much percent us3 moves uh when the FED funds rate is increased when it stays the same and when it decreases so that's a catalyst now if I come back with some um percentages to say okay us30 normally Moves on an average of it moves an above a average on those days that right there is the principle that's underlying to tell me that all right this

is a catalyst that I can count on then I move into certain entry models and entry strategies right so I would start off with 30 like it depends on how you trade I would start off with 30 and do as do more you know maybe 40 50 I think when you get around 50 that's that's um unless you're doing micro scalping like Uh Min uh micro scalping I think you're doing like HF HF that's different right um You you probably you're using algorithm using program so you can you can do like hundreds and hundreds of

back testing um but if you if you're doing something that's manual trading try to get up there like 40 50 if you can I think that uh and look at it historically like over uh over several um periods of time um and if you can if you can Mark out when exactly uh you Have Edge versus when you don't I think that's a that's a good starting place it's good starting place um if you get if you can get 100 do it right but I'm just saying like for the beginning person that's just starting off

if you can get 50 that's a good that's a good set right and Lance says that himself as well so I hope that answers the question all right now let me see what time it is you know I am fasting uh so let's see let me see Something real quick let me uh let's go back up to I I'm want to answer some of these questions let me get back to I want there's a few things I may I want to make sure I cover I'm here few principles and then we will I get to

get some more of these questions okay all right uh let me see all right so we talk about the process okay go back to the process now forward testing okay now forward testing um this is basically you're going to test your strategy on Future Market data now the reason why there's a few like really good reasons why this is important one is because the market changes right that's one um and you want to you want to you know test the strategy that you have as the market is changing on future market conditions okay because you

can validate that there certain certain setups are still relevant okay um and this this is some of these concepts are hard to understand in the Beginning so you may have to replay this and just as time goes on you'll trust me you'll understand more of them when I first started I would hear these things and I didn't really understand but I got more market experience I can see oh okay I see how what people mean about the market changing okay that's one reason second reason is back testing like historical data you're looking at the chart

your emotions aren't involved involved your skill isn't involved okay So going through that period of forward testing also is a test of your skill it's a test of you can you trade the setup right do you have the the ability to to scalp do you have the ability the patience to swing trade right those are things that you have to be like you you as an individual your personality your character has to be tested and this is a time that it's tested like through forward testing as well right and then there's also this is the

third Point That's kind of hard to understand as well is sometimes there are new events that you cannot you don't have any historical reference for like Co for example covid there's like it's unprecedented or you may only have small amount of historical times with certain things that happened and you want to take advantage of them you can initially start off by forward testing the idea and as you see things are working in a small amount of time you have to make Adjustments and you adjust this is what prot Traders have to do they have to

make adjustments in a small amount of time so they start to put these ideas on these trades on and then they'll they'll they'll incrementally start to add risk and then um you know start to live trade right so this is something else that so right now if you already have some ideas you can start putting them on and get to gather data okay now now here's another Pro part of it that is extremely Important let's say you do back testing let's say you do forward testing you have the data and you don't do anything with

it this is extremely important the refining stage meaning you look at the data and you say okay this is a 50% win rate how do I change this up a little bit in order to get to 60 or in order to get the 52% or to get the 55% like just those small percentages tweaking something you may say okay I see that I've traded this strategy when It's ranging right or something about the Asian session that I I can I can recognize there's a pattern there so now I'm going to I'm going to pull back

and I'm going to um uh or I may be aiming for one to three but normally we hit one to two so I can increase my win rate by doing that right so these are just ideas but this that refining stage is a stage that you have to continuously do Brandon has been trading for four years um Brandon is successful right and he knows This like he's had to make refinements right um I've had to make refinements anybody that's been in the game knows that you have to make these refinements um uh and so that's

something that you got to always be kind of looking back at as you continue uh to trade right so it's going to be like this process of okay you back test when you add a new strategy you forward test you go to refine then you need you come up with a new definition right or you may like you Know change up the definition upgrade it may not need to go back to the back testing or you can just kind of look back back and you jump to the live trading now do you just live trade

without measuring no you have to always be measuring okay you have to always be measuring so you once you start live trading you go back to the refinement stage you're always measuring so what I have running in uh in uh trade Zella uh this is one portfolio here is okay this Here's going to be like this is what it will look like for you all all right so you're gonna you're going to have your setups uh you can do this in Excel you have your setups as you trade I use Trad Z just to automate

everything so I can save time all right now what's my total p&l how many trades have I taken right what's the average win rate over here right how many M trades do I have um Etc right so as you go down here uh my my Win rate um uh was lower on some on other on certain setups right so um that's what you're going to walk away with and you're going to dig into that data and start to figure out how can I take less losses how can I size up on certain setups okay so

we go back into the process uh part of this identify where where uh they are buying and selling when the market is ranging yeah that's right so um go back to the process right Define the strategy prove That it has Edge extremely important okay just like when you're recording somebody you want to make sure the person that you're marrying or that that you're going to take to meet your parents you got to make sure they're not crazy right you got to make sure you know some things about them right so you have to go through

a process of like uh being a detective making sure that whatever you know this strategy whatever you're investing into um this is your Trading business so when you add a strategy this is like adding a a an an income stream you want to make sure that this income stream that you're adding is not going to go make you go bankrupt um this investment is not going to make you go bankrupt this the background check I like that this the background check so then you refine and modify you trade live okay knowing your win rate positive

expect like your RNR expectancy and then you track measure and refine you just Rinse and repeat rinse and repeat rinse and repeat get better and better and better and better and better okay all right so any qu U me let me jump into the questions uh real quick I saw let me see let me hit let me hit some of these real quick quick unrelated question how did you man RIS manage risk for your futur combine I'm doing a 50k combine now not sure if you answered already with Forex I found it easier to manage

RIS but I'm having a hard time Calculating risk uh is it you're having a hard time calculating the risk or is you are you having a hard time with the the threshold I'll just answer both of them um so with the the trailing threshold what instead of looking at the account size I look at the draw down size because the account size is I mean you say it's 100K for some of them says you have 100K but the trailing draw down is 3K I mean mean you don't necessarily Really have a 100K account right your

buying power is not 100K so if you're if you want to pass the challenge and look at that threshold and even when you trade the funded account you want to give yourself enough trades right where you can have losses and wins but your Equity curve Rises okay next next thing you want to do is I have a cheat sheet okay you get used to calculating but make a cheat sheet for yourself I supposed to send this cheat sheet out um But just got busy but yeah you have um the value in points and ticks for

what you're trading right if you're 10 20 30 40 50 60 quick you can quickly calculate all right my stop loss is going to be 50 okay here I'm going to use these amount of contracts or I got to do a micro instead of a mini right so so that's how you can do it develop the cheat sheet and you'll just get you you know you'll get used to uh calculating um different um the amounts differently okay check Out Mind Over Matter Market Douglas absolutely in my uh in like my vision board the thing that

my statement I read every day I have that video there one of the videos like one of the parts from that series okay I have a problem on validating setups and giving a grade to each setup I already created a Playbook and I filled it with many setups using my strategy rules and each day I found new setups I add it or I find other scenarios from old setups I add it but The step of validating and Grading didn't know how to do it now when you say validating are you meaning proving that it has

Edge or do you mean you want to grade the setups that's a question back for you so explain it for me if you can all right uh uid please Abdula can I get access to the uh notion template all right so if you are can I unmute yes Unice go ahead so I answer most questions about Playbook process building Playbook and then other Questions we'll we'll get to later but uh go ahead Unice alikum Abdullah how are you man allum Asam man I'm well how are you I'm doing very well man um just a quick

question for you I do have a Playbook and I've been back testing a lot but I think one of the uh struggles or one of the things that I've been struggling with is uh knowing my win rate and all that and I have it all on paper but I think sticking with the with the forward testing is it's very Challenging especially when you have like a draw down what what would be like your suggestions for that would you say so you said you have a problem sticking with forward testing because you're in draw down yeah

just just a draw down just like taking losses is it's such a difficult thing you know I'm not quite sure why but it's a psychological thing that I've been dealing with yeah and I'm wondering like um if you if you have gone through it and how how like have You overcome it yeah are you trading like are you doing like how much size are you using with uh those trades So currently with my funded account I'm only like risking uh 0.5% pretty much but even then like uh just like losing kind of makes me go

in in a different Road you know I think um I think that like losing is a skill itself you know um I think you probably have to lower your size to a point where you don't you don't feel it right um if if you can Like lower it as much as you can to where you can you can let it play out because what happens is it's like once your mind is able to grasp this concept of losses being necessary for you to complete this series like Once the mind sees it it it's it's like

it's like the mind starts it's like you start to react differently right so so here's here's an example I have a simulator that I made for our group I made it for myself at first and then I shared it with Everybody um in our group right and the idea was I'm going to share a different screen uh for a minute uh the idea of this simulator is to help people so here is this simulator is to show like out of 10 if you win five out of 10 with a one and three RIS of reward

what will happen right so like if you here's the simulator like place a trade I'm I'm going to start with a loss all right no we won this time this is pro probability it's random okay okay so we take a loss Okay so I took a loss I'm down negative 1,000 I took another loss now I'm down negative 2,000 okay um at this point most people start to kind of uh flake out a little bit um here but now I take a win and now I'm net Pro positive 1,000 right so your mind has to

go through a process of seeing this happen because you can tell you know you can you can say oh I understand probability thinking you can say that but you have to experience it so you have to give your Time you have to give your mind time to experience it at different risk levels so you may be you may have to reduce your size even more so that you give your your mind opportunity to see this happen right to see yourself go through these losses and then your win with the proper win rate uh RNR I'm

sorry with the proper RNR come back and recover three losses and as this continues to play out okay I took two losses in a row I went down now I took two wins now I'm Up positive net positive you know 4K so maybe this is a small amount for you right now on the funded account once you reduce that risk but just seeing you know you seeing it happen starts to train the mind to to uh to understand probability to truly understand it and experience it right so that's my that's my advice you're going to

have to I believe you have to reduce that risk almost to where it's like almost you don't even you don't feel it you have to Give yourself the opportunity to experience uh wins um taking taking care of losses if that makes sense 100% 100% I really appreciate it man thanks you're welcome man you're welcome um okay okay let's jump let's jump let's see I'm happy to pay the fee to be in the market there you go best loser wins yeah check out that book uh Unice the best loser wins by Tom hogart uh I definitely

I read it like twice I'm okay okay yeah you need to experience yeah have to go Through it and experience it for sure you gotta experience there you go man you got to reduce that risk so you can experience it um and then you start to slowly size up you know you say okay I'm good here now I need to size up a little bit and as you as you go I mean I'm telling you as you size up more and more no matter where you are in your career you still have an adjustment um

there's some kind of adjust if you're thinking in percentages it Helps though all right um I have been losing streak I've been on losing streaks for a long time I make few profits for with some setups and lose with them some setups do you advise I stay with one set uh so yes delete those lost setups and you will see a difference in your pnl yeah um so Samuel I think it goes back to do those setups actually have Edge I mean I don't know you have to go back and find out if they do

the setups you have you have to back Test and figure out when they have Edge like if they have Edge when they have Edge and when they don't have Edge okay so uh the setups that you that don't have enough positive expectancy you got to get rid of them you know um and then you may you may need a mentor to look over your trades right that's something that can help you can have someone look over your data and somebody that can uh or a friend like join a trading pod have some people look over

your data share Your data with them right they may find something that you don't see okay let's see um I'm happy to pay the fee maybe for test with the smaller size there there you go oh yeah Robert you got it how long did it take you in weeks months for first funed account after finding the edge uh so my very first funded account um I had to do the repeat so I it was the ftml account I had to do a free repeat um so uh even though I had somewhat of an edge at

the time I didn't Do any back I didn't do like thorough back testing I'm not as I wasn't as sophisticated as I am now right so it all depends but you know it all depends on how many trades you you're going to take throughout the month you can pass a challenge you can pass a phase one and a phase two in in one month you can it just depends on like how many trade setups you have you know uh and how well you trade um and then so maybe maybe like a one maybe a two-month

turnaround For payout because once you get you do the payout with certain fun uh companies it takes time maybe 14 days maybe 21 days Etc right so um yeah so thank you for asking do you recommend LLC for pay uh yeah you're a contractor when you do when you um when you trade with a a Funding Company all right what is your recommendation for risk profile on challenges versus funded accounts um I think it all it all depends depends on your strategy but I recommend for most People if if you go through the the challenge

aggressive if you do you need to drop it down when you're in the funed stage I believe that uh it's hard for people to get that first payout it's a lot of emotions come in play Euphoria Etc taste that first payout it'll help out once you start to roll and get payouts you can start to scale up but I recommend you crawl that crawl your way to your first payout even even if it's small risk get that refund um get a Second payout with small risk get that you know get that taste of that and

then start to size up do you check your playbook before um even pre-market or real time when you want to put a trade on yeah so I used to do that every single time I would always check my playbook and review it Unice I have my first payout way man excellent uh can you once again share us share with us the notion template uh all right for the Futures account the better option is to Have a trailing stop especially in short-term models uh yeah so most of most of my trades like if if if the

trade goes in my direction most of the time I am not letting um price comeback I have a I have a exit uh exit model that will normally keep me taking profits or normally keep me take Taking profits Christian Guzman can you share your playbook you can you can get access to my setups uh if you're in my trading pod But my particular Playbook I put some hard hard um Blood Sweat and Tears into it it's like it's like hey I say hey Lance can you give me your playbook he's like uh no sir um

you got to build your own stuff you know but but you can you can I give setups you know I give setups to uh to my students for sure to help them get started um but uh yeah if we could just go ask Mike mury like Hey man can I have Your setup your your um Playbook I didn't find any in the industry who does that for free because man I went through a lot of pain man to to get it and it's your Edge right it's your own Edge uh so uh you have to

personalize it anyway that's the other thing you have to personalize It Anyway even if I gave everybody on the call like my playbook right now you still have to personalize you have to go through the back testing you have to go through the forward Testing because you need to build your own relationship with it right all right so uh last thing before we jump off and we'll we'll finish more of this all right so again process of building a Playbook Define the strategy prove the edge refine it re revise revise revise Trade It live okay

know what you're working with your win rate your RNR okay and ease your way into trading it like with size right track and measure the more you measure the more you see the Data for yourself the more confidence you have in in your setups okay all right so just few things last two things I want to mention real quick back testing bias these are two things you want to uh be aware of when you're back testing a lot of times we will focus on the wins when we're scanning the historical data you may go f

when it's winning but you have to be careful you have to look for the uh the setup right what I mean by the setup is what's the Um as a as our one of the people in the community um when they said it earlier what's what's happening Asian range right okay so the setup is happening Asian range I see Asian range um I see a certain Market shifts you're G have to obey that even if it even if it's a loss you need to do the setup okay us30 is on a uptrend I have a

supply I have a demand zone right daily is trending I have um a daily swing point 4 hours trending as well I have a 4H hour demand Zone now I'm approaching the demand Zone I have a fivem minute BOS and I took a loss all right I need to document that I can't say like you have to be very careful the mind will skip over the losses okay so you have to be very careful then the look ahead bias there's information that you have now that you may not have had historically so you're going to

have to be careful with um when you're back testing you don't want to incorporate the new knowledge that you Have because you can easily do that look at the historical data and hindsight uh you know you may have some information that you didn't have right so you want to you have to incorporate that in you say okay would I actually have taken this setup no I wouldn't have taken it if I didn't have the information that I have now right so that's that's another thing right so um we talked about we talked about a lot

here and I think that if you implement this this weekend this Is your homework okay all right I need to see some I need to see some like you know share some things in IG and tag me right tag me in the stories that you're doing the homework okay if I'm going to do the next webinar I need to see some homework okay drop it in the Discord send me an email showing me that you're doing the homework tag me on IG right um and share in your stories and I'll reshare okay um you see

you doing that homework I want you to go through these Steps with at least one setup Define it gather the data do some back testing at least the back testing not you may not have time to do forward testing but just do the back testing you can do that this weekend okay and then show me your stats from one of your setups okay show me that show me here the net profit loss if you started with 100K account what's the average RNR what's the average win rate that you're seeing okay start with these three send

me that send me those stats Send me that data do that homework okay and we'll continue these uh moving forward also let me know what kind of YouTube videos you want to drop you want me to drop I'll be dropping some fire content uh coming up [Music] okay uh thank you all for joining this is part three and uh we're going to go ahead and get started what I'm going to do is I'm going to we will uh move into the next Uh phase part three right I'm going to show you this actual scalp that

happened this week okay this is a scalp that's in my playbook the scalp happened during this last week I'm going to show it to you I'm going to show you the whole big picture how I was thinking about the scalp and how I entered okay so what you want to have defined is an idea okay so I I have an idea uh I'm building about gold and I'm going to I'm going to tell you I'm going to share with you but here Are the steps here's what I'm defining about this particular setup I'm defining I

I have this U I've adopted this concept of being in play from SNB Capital so I have I have definitions about what it means to be in play this is extremely important I'm going to share this with you in just a minute um then I I Define a lot of things about the scalp I won't go through it again because I I'll go through it in just a minute but this is all just a recap from Part one part two all right so here's a definition you have this definition okay um then you have entry

rules in your playbook you have stop placement in your playbook you have the amount of attempts in your playbook okay and then as you as you back test you can refine these rules based on the outcome now common back testing things that we um things that you measure this is something this is from my trade Zeller so you have this trade Zella um this is from trade Zella It has the in trade Zella you don't have to use trade Z you can use Excel uh but basically you have the setups over here and the p&l

for a particular time period um the win rate for a particular time period the amount trades Etc right so um you want to you want to track you want to track these variables and we talked about it last see the last part if you want to um more thorough elaborate walkthrough of this okay all right so common back testing um flaws right you Have bias that we talked about last time and look ahead bias you have back testing bias meaning you are targeting specific examples you're targeting wins and you're overlooking the losses okay and you

have look ahead bias when you had you have information in the future like if I have information about gold that I that and and I apply that information when I'm back testing gold I I wouldn't have had that information at that time right um so that's that's Something that uh can be very dangerous um and it can cause us to uh to uh have incorrect or corrupt data now what's inside the Playbook let's talk about a little bit more so we talked about the process of building the Playbook defining an edge Etc now what's inside

of it okay what's inside the Playbook like how do you define one setup okay now here are the things that I normally have uh for one particular type of setup okay um I adopted this from Mike Bella Fury's book The Playbook um about maybe a little bit over two years ago now and it's it's helped me tremendously okay so the first thing is the big picture trades don't start from entry model if you go on YouTube you see all these videos about entry models trades don't start at models the best trades start with a larger

picture idea um now I'm going to show you a gold show you a gold trade that I took this week and I'm going to explain everything that I'm Talking about here with a big picture intraday fundamentals technical analysis Etc I'm going to show you uh in as it relates to Gold so let's talk about what's the big picture with gold right now from my perspective um there's two I'm going to talk about two great opportunities uh in regards to Trading itself only I want to so let me ask you a question um how many people

how many of you all uh had a strategy and it stopped working like you had a strategy That was working for some time and then it stopped working drop a one in the chat if that ever if you ever had that experience you were you us you were using something was working and then all of a sudden stopped working okay we have some ones right um and I'm not sure uh the level of everybody's Trad but if this has happened to you one of the reasons it didn't stop but became like three trades per month

okay that's another thing right so so there there's Several different reasons for this uh for this happening um but I want to tell you that number one the way that a lot of us view trading uh when we're introduced to trading we're introduced to like supply and demand like this okay hey uh if you want to use supply and demand all you have to do is just you show up to the chart and you're just going to look for you know uh rally based rally so you're just going to look for rally based rally and

that's it you Know once you see rally based rally anywhere you're just going to wait for price to come back here and then you're going to enter and then you're going to make a lot of money right um or we're introduced to some maybe ICT concept uh or a certain type of Entry model um and then when that when you know one variation of it does it stops working then we get we start to add more and more and more and more and then we just we have these complex very complex entry Models and we're

trying to filter through all of them and figure out when to apply them when um if you a lot of the um a lot of the bigger Traders like and prop Traders like professional Traders um what they're doing is they're looking for the things that are going to be moving so a lot of the traders that trade from the uh like in the prop space professional Traders uh they're looking to understand what actually moves um uh a lot of these uh instruments and if you Look at if you look at SPX or indices it's not

just price action it's not this this bullish run is not just happening because of price action and then we have a bearish uh a bearish you know move down just because of price action if if that's if that's all the was then um you would just have a straight you know like you wouldn't have such a um a uh skewed move bullish here versus the bearish move right we talk you know people talk about imbalances and things like that um What happened from October until now is fundamental it's it's driven by there's a lot of

fundamental things that are happening uh companies earnings and things like that right um it's not just technical right so a lot of the professional Traders they understand that there's a larger picture at play they use that but then they use technicals to uh hone in and find entries so with gold for example with gold so we go to the gold trade um use GC from Futures Market okay so gold for example uh in October we have uh the announcement of Hamas uh in Israel okay so then this this the conflict this starts to have uh

give us a m a massive bullish run uh because gold is a is a infl is a a hedge against fear it's a a safe haven uh commodity right so if there is fear of geopolitical issues then you're going to have a rise in gold right so if anybody that understand this from the big picture uh unfortunately we Don't want to um profit from the loss of life uh but anybody that trades understand that stands that Ukraine Russia War announcement that's going to drive gold um uh any types of geopolitical issues um and war is

going to drive gold okay so understanding the big picture as I said the best trades start from ideas so and this is going to challenge everybody on the call because a lot of times people are just sitting there Trying to trade the same symbol in times when it's not moving when it's choppy and all you're going to do is just give your money away but I'm challenging everybody to to understand whatever you're trading and understand what moves it from a bigger picture okay if you can start and it's not too difficult I thought this was

difficult when I was just starting but if you start to just invest more time into studying whatever you're trading if you're trading just Us30 know why us30 moves what causes us30 to be bullish what causes us3 to be extremely bearish take that time to invest into it and you'll make a lot more money because you'll be able to um um you'll be able to take advantage of opportunities better okay so now what's going on with gold so you do have the geopolitical uh issues with gold that are going on but also when the central banks

are going to reduce rates and this is just known like people this is this Is just put out the FED are most of the central banks since the beginning of the year are going to reduce uh their rates when that happens gold becomes more attractive to invest in so we have not only does price act we have the big picture narrative supporting the bullish push then also we have price action supporting the bullish push right so when I start when I write down my big picture I want to write down that okay there's some sort

of uh higher time Frame there's you know from a fundamental perspective maybe a Sentimental perspective um there are drivers that are pushing me bullish then from the big picture from a technical perspective I have I'm I'm in an uptrend okay so I want to document that as something that is in my playbook when my um fundamentals are bullish and my uh higher time frame technicals whatever you use weekly daily Etc and if you don't trade like this it's okay I'm just Giving an example so you trade in a different way it's it's totally fine now

gold is giving signs of being uh bullish so I have fundamentals I have uh the the analysts are saying that um you know the central banks are investing in gold I see it on the chart as well uh we're extremely bullish right so this now I'm starting to position myself for buys okay I'm starting to position myself for buys right so this particular trade was I'm going to show I'm going to show you On the um the normal chart I won't have the we won't have the valume and all of that but but yeah here

we go all right so so now I start to so big picture bullish higher time frame bullish right so for me I have higher time frame alignment I have the uh big picture fundamental all of those are aligned okay now then intraday fundamentals right so your intraday fundamentals are your Forex Factory um what you see on Forex Factory USS for Forex Factory your Your data releases that come out um in an intraday right um normally if you have if you don't trade with any fundamentals at all it's okay I'm just just giving an example okay

so what do I what do you want to see when comes to intraday fundamentals or you want to see your intraday fundamentals aligned with your higher time frame with your big picture if none of this doesn't matter cool you don't put it in your playbook if it matters for you you put it in your Playbook right then from a technical analysis perspective what am I looking for now this goes back to my the definition of my scalp right so my technical analysis is that I'm going to have levels so at the time of the open

okay um this this this scout this uh this play followed exact my what I wrote down for one of my scalp setups okay so I'm going to show it to you I'll show you exactly from um I'll show you exactly from my work can we learn and Understand fundamentals um so there's many sources I do I do have a fundamentals course um Numan can drop the link um for you U Numan uh is he he's on our team he can drop the link for you um and I cover all of the I cover the fundamentals

that impact the currencies Commodities and indices uh if you're interested at it and looking at it okay so if you look at my if you look at this scalp setup so that's so as I mentioned most people start from the Technical analysis and they start from the entry model itself but for me when I say something is in play right so here's the step here's the steps for my Scout when I say something is in play it either has three things number one it has some uh fundamentals a catalyst that's going to be pushing the

market aggressively right so gold has risen over 5% uh what what this this month in March 5% gold is risen that is that is a great Push right 16% um uh up to last year 2023 so we want to be in things that are moving multipurpose sense we don't want to be trading something uh where it's little small movements because it's going to be harder to extract money it's easier to extract money when you have big moves and that's that's where you find the best trades okay um so since I'm aware that gold is moving

so much and why it's moving that's when I come down and zoom Into my technicals so from there uh when I zoom into my technicals I have exactly what I written here okay it's in play because I have fundamental Catalyst that's moving it the central banks if they're if they're investing in gold uh then there's likely to be higher movements it's likely to go to 5 10% uh gains right so I want to take advantage of that or if I have a strong technical zone right so gold is actually sitting on a strong daily zone

so if we look at The daily uh gold formed a daily Zone here okay gold formed a daily zone right here okay so go for it form the daily Zone daily support all right so um that's another thing that uh brings it into play for me at first this is in the middle of nowhere so at first wasn't such a strong support but as it rains for days and days on in it's showing that it has strong support here right um if this was just another level where we Had historical data this could maybe be

like a level that has multiple touches right so that's something else that um that will make something in play for me right you have to Define for yourself in your playbook what causes a symbol to be in play sometimes I can just open up us3 I look at the chart it's not in play that's it I'm out I'm not even I'm not gonna sit there and chop up my money I'm not gonna um you know chop up we just get in we Trying to force something when your symbol's not in play you need to know

what is in play for you what does it mean to be in play for you so if I have strong fundamentals if I have strong uh higher time frame level that's something or elevated volume okay all right so here um we have a range all right for this scout so this range here formed all right so uh we're sitting on top of this Zone here this is a Zone uh that price has been reacting to and Then we're we're near the open and we have this range here I drew this here we have this range

and it's ranging as I as I said in my um so we have about it's a little bit over 15 minutes maybe about 30 30 minutes to an hour of a range here on the one minute and then at the open we have a massive Bush bullets break out of that range okay and um I can't show you the valuee because the the chart on trading view for futures is is uh corrupted right now but um when this Push happened the volume was elevated right so I'm looking for elevated volume on the push to let

me know that institutions are in okay that they are bigger players that are pushing at the open and then when price comes back to uh this Zone I don't want to see such a like this is a solid one two three candles but this was a grind slower this means that there aren't like the volume isn't uh volume back to that Zone isn't like strong cell volume right so I Didn't see I didn't see the candles nor did I see the strong cell volume approaching that's what I have like defined here right once we push

out I want to see elevated volume and then as we approaching back down I don't want to have like strong uh I want this to be slower this approach back to that range on want this to be slower as well as I want the volume to be lower um how to know the open the opening it's the open of the uh NY session so the opening time Here is 8 uh it's 8:30 my time but 9:30 uh New York time okay that's what I mean by the open so price pushes up approaches back to this

Zone and we have a candle um a buying candle here uh and that's that's what I need to see my stop loss goes here and then I'm taking it I'm taking it up to this taking I'm taking 50% off here right at the next high right so this is my setup defined right the exact setup we're in a range and we break out of the range we come Back to this um uh the break out of that range and then we push right right so um this is how it looks in real life like in

in uh high definition you know in live you know these are this is how things come together and I back tested the same setup on different symbols gold the indices Etc right uh so this is how it happened just this last week so now what would I do um what I'm going to do is so that's a reversal candle let me talk about the entry rules right uh I Need to have uh you know a reversal candle and I can enter at the close of that candle or like 50% of the candle right so here

you do have a 50% reversal back down to that candle and then price pushes up now the reason I don't have to have a super wide stop loss here um is because I'm trading something that is in play meaning that I have the higher time frame confirmation I have higher volume that's there as well and then I have my price action the volume and the higher Time frame and big picture momentum right so that's why I'm looking at something that's moving otherwise if I'm just trying to trade in a choppy trying to trade something that's

choppy I don't have the volume I'm out of session Etc uh then you're more like you're more likely to it's more likely for you to to get you know chopped out right so that's what I'm looking at um I need all that valuee to be there to support my my setup and price went up uh hit hit my TP Here okay and it's a nice nice quick move quick scalp and it's not a scalp as in you going and trying to chop you know scal something choppy you have a lot of volume and momentum in

your favor that's the difference between professionals that scal and just the scalper that we you know we know of or that you know it's just the normal for scalper um they don't have a catalyst pushing the um the move they're not watching volume they're not watching order flow as well right so The order flow is another thing that trade Futures you can look at level two you can look at the time and sales and you can use that as well as confirmations to see that as price is approaching your entry are the buyer stepping back

in um to push price higher and you can you can see this on the the level um you see on the level two uh buyers um being stronger and on the time and sells tape you can see the buyers being stronger as well uh lifting the Price higher and higher higher okay um so yeah so that's an example um so what you would do is after this happens you would store this um if you catch it or if you miss it you want to store this play in your database in your playbook um and you

want to gather the stats if you took this if you took the trade you want those stats to be in something like trade Z myx book or if you just documenting manually you want you want to document that um you want to document The RNR from your entry to your exit right and you want to just accumulate the win rate for March like what's the win rate for this particular setup uh for March right um and then as time goes on you build up this database and you become more confident when you see these setups

uh because uh you have the database you have the data to support it right um so any questions yeah hello hi how's it Going yeah yeah good uh I want to thank you for your time you're put in place for us because this stuff you're giv in fact even some P stuff doesn't even get much value like this we really appreciate of the I want to find out those Stu in play I was really trading that us 30 that was last week and in fact on the forest Factory there was no any red news so

and there's no red news Us St normally it's just let me see ranges yeah but all of a sudden I just Saw some shootter I wanted to just sell but all of a sudden I saw some buyers coming into the market so I was really surprised where that kind of fundamentals was coming in so you talk about the fundamentals really happy to know much about how to know the fundamentals in play because sometimes the there's no red news so we hardly found out how those buyers come in without any notice yes so that's a great

question great question and I'm I'm Going to cover it because there's a lot of people that trade indices okay um and I've I've personally traded indices uh for the majority of my trading career okay there are there are three major things that move indices you have uh rates like the the FED rates and inflation you're going to be watching those uh but also earnings from stocks because why if you look at um if you understand this part this is going to answer your question about not seeing Red folder News so if you look if we

look at uh Dow Jones EJ here okay you look at look at the top companies here okay okay um not that chains let's look at the price okay so us30 is price weighted so United Health through Microsoft Goldman Sachs Home Depot caterpillar so if these are moving us30 is going to move so you don't necessarily have to have red folder News for us3 to move it it will because when US economic data is Printed you will have movement but also if you have earnings from any of these companies that are coming out that are on

the top right let's say you have blowout earnings with Microsoft or bad earnings that with Microsoft those that can cause us3 to take a dive and you wouldn't even be aware of it because you may only be looking at that red folder News right so having an awareness of what's going on with at least the top seven maybe uh stocks of the index that You're trading is important it can help you um as well as uh that that red fold red folder News oh okay okay yeah you please is there any is there any is

any website or any needs of you maybe tracking maybe the first 20 yeah so uh you can use or maybe the first talks how they are performing yeah you can you can use a lot of play like benzinga is one they have a free it's benzinga.com benzinga okay benzinga.com you can check it out I'm sorry I I uh check benzinga Out uh you can create a watch list put all the the stocks there and you can also see news related to each one you know there's a site called vital knowledge that summarizes it's a it's

a subscription it costs benzinga is free vital knowledge is one that costs about $90 per month you don't have to use it but just do a free trial and see how the analysts um how they summarize things right about stocks um there's another one called earnings Whispers so okay Yeah just take a look at these different ones and see which on you know which uh you like all right thanks a lot man thanks for the question great great great all right thanks to thanks to your reply you're welcome all right I'm Gonna Keep I'm just

gon I'm gonna Blaze through the questions real quick okay so drop your question if you if you type it it'll be it'll help me uh address it faster okay um because I'll try to get as I'll try to answer as many questions As possible what prop firms are you using for future so I have accounts with Apex top tier takeprofit Trader and uh top step right now I'm going to do my funded f my funded features but I just haven't gotten around to them yet so depending on your like if you're just starting out Apex

is good because they're cheaper it's good to learn with uh with Apex because they're cheaper the the cost is cheaper then you can do the others they they just don't have as good Like the others have better payout uh systems when it comes to like the rules of payouts uh but Apex is a good start in my opinion when you just starting off because you can get a challenge right now you get 100K account right now for $40 so it's important to note the months that trade works too I would because what happens is there's

something called seasonality in seasonality what you see is there's certain Seasons when um certain Commodities are bearish and Bullish right um there's certain Seasons when indices are doing certain things right uh so I think I would you can you can start to see a pattern if you're documenting the month do you have a course on how to use volume so in my ztf course I've added a volume uh section and the scalping course I I I have a a volume uh video a volume section on how to use volume and how to add the Futures

volume to trading view okay so um Numan can put like the the uh the scalping Course link there if anybody wants it but um I I recommend joining the accelerator if you want like fundamentals scalping Futures because I it's going to be more well-rounded um and I I'll make an announcement about the accelerator later uh for you for everybody to learn more about if you haven't been on any of the cost okay uh G deep is there a minimum RNR are you looking for these setups or is it to the next high always um so

for me my exes Are normally just based on structure uh there's one scalp setup where I have it based on it's uh it's like a it's a move where it's based on like measuring the move where it's not based on structure so but the majority of my setups that I use are are based on exiting based on uh structure or or another reason that I have to close if I'm trading scalps is like if we if we cross back over the 9 EMA like price should be riding the 9 EMA and if we cross over

it and I'll Show you I'll show I'll show a quick example um but I think that's I think I answered your question um about RNR um okay I use structure for TP but my minimum is one to three I don't go lower than that oh yeah so for yes for zom the user check out the it's in ztf or the scalping course let us know which one you are interested in ztf is the highest yeah check out the ztf course um num man can I posted there and it it covers um valume for the fundamentals

how to know Or any Char keywords or any sign that is announced if the market will drive higher or lower because this will help a lot if I know where the market is really going if they except the if they say the FED Cuts rates Etc if possible what is the effect in dxy for example fed Cuts rates yeah so what you want to look at is a theme that's that's the challenge with fundamentals you have to follow the theme of where things are going and and each little data piece that's Released it it either

confirms or denounces the theme right so if the FED Cuts rates if any Central Bank cut rates normally that causes the currency to go down uh if you look at EUR USD right now so the Central Bank their fed the European Central Bank their fed is looking to cut the rates okay it's expected that they're going to cut the rates right so we're expecting EUR USD to go bearish because the uh when a when the Central Bank cuts the rates the Currency goes down the reason why the currency goes down is because investors like larger

investors they pull their money out of that currency because um it's going to yield less of a of an investment right if the interest rates are higher they're going to get paid more they invest into that currency like if they buy like the Securities that the government offers if they lower the rates they're going to make less money just like when you go buying house or You buy a car your your car provider He he'll sell you a 50% interest rate if you accept it he's going to make a lot more money but what you

want to do is you want to have a lower interest rate so in relation to what I just said the investors they want the higher interest rates so if the fed the ECB the boj recently the national Swiss bank they cut the rates so you see the you see the uh the chef okay so you see USD Chef USD Chef is bullish the There Was An Unexpected rate cut on the chef so after that boom you see all the pairs that are against the chef boom they go bullish okay so just you have to start

to understand those Dynamics you probably you all can't see that question because he the person addressed it to me private but um if you start to understand those Dynamics then that'll help you okay all right uh if you build a Playbook that you add just good trades That you found each day how can you grade them because it's like you see all of them is A+ All Right excellent question every trade starts off as a b setup okay from from my perspective everything starts off as a b setup and I'm giving uh a webinar on

lessons from uh um SMB and I'm adding to the the the course um where how to how to delineate your b a uh B B+ a A+ A++ right um and the way to do that is everything starts off as a b and then You have to be able to look at the data and start to differentiate what is higher quality okay mostly what differentiates higher quality is that it happens less and has more confluences stacked all right but I would say start at B don't see all of them as a start at B and

then you upgrade them as you see that you have more uh things stacked right and these the higher the setups like A++ happens once a year those are Types that happens once a year right A+ is happens like maybe four times a year right so you're looking at things that happen less but they have more things um stacked okay what's your risk model in trading and evaluation what's your position size are you more aggressive during the eval with size uh normally and I'm normally taking very high quality setups um when I'm taking the evals where

I am now if I was just starting off again I wouldn't I wouldn't Be as aggressive just because I don't have the experience e uh evaluation firms you'd recommend for us outside the US yeah if you're if you're outside the F us ftmo for for sure no doubt about it uh ftmo is one that I can recommend um there are a few others like I've heard that funding Pips is good I know they recently had an issue um but ftmo for sure that's one I can recommend um if you don't if you haven't Max allocated

with ftmo then then do that for Apex for Example because I know there's trailing draw down so are you constantly moving stops um so I'm constantly I'm either moving the stops or taking profit quickly you know I don't my trading Styles I don't let price go all the way to the TP and then come all the way back down or close to TP and then come all the way back down to break even normally I'm in something that has high valuee now my trading style has evolved right I'm in something that has high valuee so

Normally price is pushing aggressively to my TP mostly most times okay all right talk about red photo news and seeing Market move cap do you CNBC and what do you do with it I don't use C I don't read C CNBC normally I use um some of the those things that I put there there's a to Me CB CNBC is a lot a lot of times it's delayed a lot of times it's a lot of just uh jargon that's I mean it's just a lot of after Thea types of things uh normally I use um

I use Vital knowledge personally I pay for it but if you're just get to start you don't have to pay um you can try trade the news that's another another one I use vital knowledge because I use I I I basically I like to trade stock I'm paper trading stocks but I like to trade indices as my primary but trade the news is really good for for currency so look up trade the news they they they bring all of the news together for you in one place so that you can and you can do all

These uh watch lists and stuff like that uh to to only receive the news for what you trade right so if I just watch CNBC I don't want to like I don't want too much information about things I don't care about so I normally use these like sorts of subscription sites or sites that coate all the news for you into one place okay so um what I'm doing what I'm doing with it is I'm building a picture right I'm building um a theme I'm trying to understand the theme of where things Are going like what

I mentioned with EUR USD okay now that we are we're seeing the data for the euro is softer it's going more negative you look at Forex Factory you see the reports coming out negative that means that the currency is probably going to that that inflation is going down so the central bank can cut the rates um right so there's a theme that's been going on if you read about if you read through these sources that I'm talking about Um trade the news uh benzinga if you look at these um if you look at the news

that comes through or if you read what the analysts are uh are saying um you'll hear about these like you can look at reports from JP Morgan and others okay all right so uh new chat what do you have a template of the Playbook that's easier to key in data when I'm back uh test for test I don't have one um that's a great question I've had one in the past that I've given out but I probably Need to try to find one or develop one okay all right so all that thanks helps out a

lot it's complete Pi okay I came in okay yeah this this this meing will be recorded okay do you have a max daily trades per day per week okay so uh great question I have a max daily stop Max weekly stop and Max monthly stop now okay so it's not it's not necessarily an amount of Trades per day it's actually a Max stop so if I lose more than this Max stop I'm out so one day may heat up I May have like three three trades or four or five trades in one day five is

is is more it's if I'm scalping that's more but um I don't limit it to trades it's more about like my stop um if I see one good trade like a trade that fits my playbook if I see 10 of them in the one day I will take them you know it's not over trading if you trade your playbook okay but if you just start you know if you just if you take the invented trade more many of people are taking the Invented trade the trade that's not in our Playbook that's when you get in

trouble okay all right where and how do you find such news on uh Central Bank there's many different as I mentioned uh trade the news look up trade the news and you'll you can uh you can take a look there um how to identify a fake out during High voles what factors do you recommend to look out for to identify fake outs and scalping uh yeah again so scals for me start off they have to be In play in play means that you have some sort of fundamental Catalyst like you have an intraday red folder

News that can be fundamental Catalyst to help push price in your direction um but you have to already have a theme in mind right so if I'm thinking that stocks are bullish the indices are bullish I'm in a daily support 4H hour support and the intraday fundamentals for the US come out red foldo come out that supports the bullish buy then I'm in I I'll get in so that That helps out and identifying fake outs so what you want to see is if you you you want to see high volume uh if you trading a

breakout you want to see high volume if there's a breakout of something or like a break of structure with low volume A lot of times that could constitute a fake out sorry I'm looking I'm looking over here but I'm reading the um the chat right here okay so if you have a breakout with low volume that could be a fake out if you Have a break of structure with low volume that could be a fake out you want you want your price action to match the volume and that right there is a sign that it's

not a fake out but if you have um if you have Divergence between price action and volume A lot of times um that's a sign that there's a fake out there okay all right so let me I'm trying to blaze the questions let's see for your your personal personally after how many trades all right say 20 trades And I asked I asked many professionals about this as well to support my my view on it even I was just in the SMB event the risk manager who's the guy on the risk floor he's a guy that

has to go and talk to a guy that makes 600k a month and tell him hey man you need to stop when he when he he sees him going down this guy says 20 20 setups is a good amount to start uh going live and you go live with B risk right you go live with B risk you don't start off with a risk Go live with B risk and then you go you bump your risk up okay if you missed the if you missed the replay uh if you missed the the webinar before the

replay email our support support profit X Trading okay support at profit X trading all right you said that you began to rate the tape on Twitter do you use this on us30 and uh US1 100 or just overall you can use it you use the Futures tape to yeah you can use the Futures tape definitely going to use it for stocks But use it for use the Futures tape for NQ and ym for us30 Nas 100 and SPX yeah I answered this before this record this will be recorded okay all right so um drop a

one in the chat if you want me to continue these types of community uh webinars let me know if you droping one in the chat if you want me to continue these types no you know what drop a fire sign in the chat drop a fire sign in the chat if you want me to continue these type of these types of webinars if you Enjoyed this webinar please click the link in the description I'll be hosting several webinars every month so that I can dive deeper into topics that I discuss on YouTube also I like

to hear your concerns your questions what are your pain points so that I can address them in my YouTube videos as well as I can answer direct questions on the webinars we are a trading Community we are trading pod my mission for this channel is to bring the Professional Knowledge to the independent Trader like you and I thanks for checking out the webinar and supporting the channel