In today's episode, we're diving deep into the world of volume profile and its role in identifying high probability setups. Join me and special guest, Farm, as we explore the power of leveraging volume profile to spot high probability setups. Discover the intricacies of analyzing multiple timeframes, pinpointing essential supply and demand zones, and utilizing volume profile to identify significant reversal. or breakout points. Farmer will break down his exact approach to the markets and even share his criteria for a day trade versus a swing trade. You will get a clear understanding of volume profile and how to use it to your advantage in these unpredictable markets. What's up traders, Anthony Crudelli here, and thank you for tuning in to the futures radio show podcast. Today's podcast is sponsored by TradeStation. Serious futures traders level up your skills with trade stations, powerful platform, enjoy flexibility, superior trading power, and save big with 50 percent off brokerage fees for life. Open a new futures account today at tradestation. com slash Anthony, and get 10 percent intraday margin rates on three. Popular futures markets, discover why trade station is my go to platform for trading options on futures. Explore the robust platform now at tradestation. com slash Anthony farm. What's up, my friend. Welcome to the show. Deli appreciate you having me, man. It's great to have you on the show today. You know, I've been following you on Twitter for a while. Love your work. I want to get right into it today. I think we start off with just a little bit of background of what your style of trading is, because we're going to really dig into it today. Yeah, absolutely. You know, I think foundationally I'm a, I'm a price action supply and demand trader. And, you know, over the years I've sort of sprinkled in. You know, some aspects of volume profile, market profile, uh, some different things. And what I like to do is, you know, use all of those combined, uh, to identify unique setups, um, that give me a good read on what prices is telling me. Um, and that are going to be, you know, really high reward to, to low risk trades. And so that's really what I'm looking to do is try to catch people off sides and you know, take the other side of that. I, you know, I do a lot of reversal trades. Um, and that's kind of my jam, you know, and mix those together and get it done. It's funny you say talking about getting people off sides because, you know, where I come from, my background was in the pit. And I remember when people would talk about you want to catch when somebody's wrong, not necessarily another pit trader. But you want to catch one like a broker has just got to do something because that's when you're going to get that fiercest move. That's when all of a sudden they're like, I don't care where they at buy them, right? I don't care where they're at sold and you get that sharp move. We see a lot of that in the market today. I'm one of those who's scrambling to get out sometimes myself when I don't like something. So. I guess I'm just curious as to why or how you came up with that mindset of style. I like things easy, right? I like things easy. And so when I'm, when I'm taking a trade, I'm looking to go back through clean price action, right? I don't want to drive in traffic. I want to, I want to be on the freeway driving 80, you know, I want a nice clean setup. So I want clean price action to my left. Um, and then, uh, yeah, just ultimately it's just a lot easier sometimes to roll with it. I'm not pressing things. I'm not looking. For reversal trades and look, well, other than, you know, ahead of time looking where an area might present that opportunity. Uh, but never forcing a trade waiting for, you know, a seller, for example, to show himself in the tape, um, when we're currently by side. Uh, and then, you know, the reverse would be true as well. And then just running with that guy when I know that, you know, if he takes the ball, you know, the rest, the rest of the crew is going to be off sides here. Interesting. I know we're going to talk a little bit more about the market action that we're seeing these days, but I want to first start off with the basics basics of volume profile in the simplest terms. One information does a trader. Get from volume profile and why do you feel that's beneficial to you and other traders? Yeah, I feel like this is important for a few reasons I mean the first thing is, you know, I should say that I look at volume profile on multiple different time frames So everything I do is multiple time frame analysis and what volume profile is doing Is it's, um, giving you an opportunity to identify the establishment and the migration of value over time. And the importance of that is that price leads value, right? So price can sort of do a little F around and find out. Um, but ultimately it's value that, that really tells you in the movement of value, migration of it, that tells you what's going on with the auction. I'll tell a lot of people, like, you have to know what play you're watching and then what act you're in. Um, a lot of times, and I feel like that's that's the benefit that I get from looking at multiple time frames on the volume profile, because, as you know, you could have 34 bullish days in a row and still be in a huge downtrend or even a couple of weeks in a row, and you're actually still in a very bearish downtrend or, you know, the reverse is true, of course, and to me, you know, watching how value develops over time on different time frames really helps me to understand what's going on in the broader auction of things. Thanks. Explain value a little bit more. Yeah, so value is really, you know, price can move again, like I said, it can run up. But if there's not agreement, um, that value is, is, is found at those prices, and then buying is going to shut off and price is going to, to reverse back down. And so you're looking at, you know, interest on both sides of the tape. If you're at an auction, You know, you can have a, you know, a thousand things for sale, you know, for whatever price you want, but if nobody's interested in paying that price, that's not valuable and you're, uh, you know, your auctioneer is not going to make his commissions, right? And so, you know, that, that's, what's important here is that, you know, sellers don't want to sell too low. Buyers don't want to buy too high and, you know, there's gotta be, you know, someplace in the middle for them to meet. And so that's really where value comes in and you see that in volume at price. Uh, when you look at volume versus price, as opposed to looking at volume versus. Yeah, that was a great explanation. Uh, I want to move on and talk a little bit about your approach to using volume profile and finding areas of interest. And I want to talk about also how maybe your strategy differate, differentiates you from other profile traders. Sure. I think the first way that I'm differentiated is, is not being a purist. You know, you have some, you know. purist market profile traders where that's really what they're focused on. You have some, you know, pure volume profile traders and that's what they're focused on. You have some pure price action traders and that's what they're focused on. Um, and I really try to look at all of those things and sort of put those things together. Um, you know, when we get into a few examples, we can talk a little bit more about that in depth, but you know, I'm looking at the alignment and I'll just give you an example. you know, let's say you're looking, um, at a prior days high, you know, just the price action example. And generally, you know, many price action traders are going to be bullish above a prior days high. Well, maybe sitting right above the prior days high is a weekly low volume node where there wasn't really a whole lot of interest price moved aggressively down through that low volume node to the downside in the previous week. And so a price action traders not necessarily paying much attention to that. They see, okay, we're trading over the prior days high. I'm gonna get long and then sure enough, you end up with a look and look above and fail of the prior days high. And that's where I step in as a reversal trader. and just stomp on it. You know, now they're off sides, they stop out and we run back down for the day's range. So, um, I feel like it's really important to be aware of all of those different concepts because if you're just focused on one area, you might be missing the bigger picture that's going on. No, I love that. Let's go. Let's take a look at the charts. Now. I, I'm going to be very curious to see what some of your examples look like. Now, I know that a lot of you are going to be listening to listening to this on audio. You always can go to anthonycordelia. com or check us out on the YouTube channel because we're going to be taking a look at farms charts farm. We've got your charts up. Walk us through it. Yeah. You know what? And I'll tell you what, um, I actually did a video for, uh, my stuff, subject members on exactly this. And that's what made me think to share this today. I'm happy to share that with a show for the people that are just listening. They don't have the screen. Um, I can make that link available if you want. So, yeah, no, absolutely. It's like, it was a good example of how supply and demand and price action all play a clean role together. And it was just a good representation of what I do. And I get a lot of questions about, uh, you know, my five minute reoffer set up, you know, that I post a lot on Twitter. It's named that way because I watched the five, um, and I'm wildly uncreative. So that's all I came up with. Um, the flip side, you know, being a five minute rebid, but so here we have the two hour, um, on ES. And first thing I always like to tell people is like if you're looking at thinkorswim or you know, Maybe your broker has a different two hour candle if your chart looks different. That's fine This is also just cash hours only so you can see these huge gaps that aren't there probably in your chart I just make you aware This is september 21st and the trade execution on the 22nd So you can see on the 21st, we had this big sell side two hour candle, um, pretty nasty day, you know, after an RTH gap down, regular trading hours, cash hours gap down from there, you know, we get this consolidation candle to the upside during your traditionally low volume kind of lunch hours. So this, this, this green body candle. is, uh, 11 30 a. m. Eastern to 1 30 right after the initial move. And a lot of times, you know, just a little pearl, you know, something that I make note of is, you know, if the predominant activity for the day is sell side And then you get sort of lunch hours, you get some relief. I just try to be really careful chasing that long. Just a little pearl, uh, for, for, for me. Um, and, and so what happens is sure enough, you know, the volume comes back in and they just completely nuke this. And this, if you're a price action trader, this is like the most perfect classical three bar down you'll ever see. Right? Cell side to the downside consolidation. The other way retraces roughly half of this initial candles range and then and then the nuke. And what this creates his supply. And this is the way that I see supply. Some people see supply. You know, they might draw a range here and say, Oh, up here is supply. And, you know, down here we bounce its demand. I'm looking when I say supply or demand, you can flip it. I'm looking for a specific price. Or a specific range of prices where I have the known presence of trapped buyers or potentially trapped buyers. Is it possible they puked this candle? Absolutely. But there's traders on all kinds of different time frames, right? Some of them are day traders and they puked it. And some of them were buying and tending to hold for a little longer, right? And maybe they've changed their mind for the next day. So maybe they're still there. I also have the known presence of a strong seller or sellers interested in selling at these ranges, and this is just how I see supply and demand. So I have both of those two things occurring at the same time, trapped buyers who are natural sellers if we return to this price, and I have the known presence of selling interests. At this area as well. So, um, I do have the volume profile on for this day, which when I drill into the five in a second, you'll see, um, a couple of other things that I'll mention. Um, so here's the five. So here's that first day. Again, we're actually going to talk about a trade set up the next day. Um, but on this first day, you can see, That, uh, you know, first early. Let's see if I could pull this forward. Actually, I'm not gonna mess with it early. We had this buy side impulse that took place right at about 98 and three quarters here. This buyer or buyers, you know, somewhat defended, defended, defended, you know, most of the day they defended their position, which I felt was initiated. you know, right around this 98. 75. And then ultimately we got the late day sell off, you know, closing well below value for the day. So, you know, for people that aren't familiar with volume profile, um, that's what this is. I use a fixed range volume profile and trading view. I just, I just like it that way. I want it as granular as possible. I do one tick for row per row. If I, if I can some instruments, you can't, um, I've extended out the value area high and value area low of the day for, for these purposes on trading views. So you can see it. Um, you can see, we've got a nice low volume node. If you're not familiar with that, you can see, you know, sort of larger amounts of volume here, a thin area here where it drops in and then, you know, a little bit more volume here. So this is going to be an area of interest for me before I even get to the end of the day and mark out that two hour supply because I've got this low volume area, which tends to be a decision point for the market. And I have this, this buyer that I had identified the day before and I felt. that he's initiating here. Defend, defend, defend. The only question is, is he still in or is, or did he puke here? So the actual trade then, you know, occurs on the 22nd. So we open on a gap down. And again, I don't have extended hours on this. So if it looks a little bit different, that's fine. We spend the whole night pretty much below the prior days. area of value. So to me, objectively, I'm not too bullish if we're trading, uh, most of the volume and time below the prior day's value area low. But sure enough, we open, we get an opening range, um, that ultimately gets broken. 30 minute opening range. Sorry, because I know opening regulators play on all kinds of different time frames. But this, this day starts to look really 30 second, 30 minute. A lot of people use the 60 minute, you know, which is the initial balance. So people are all over the place. But you know, this day starts to look really bullish. We grind up these strong, bullish candles here, right? So we're getting into the priorities value, and this is where, um, a volume profile trader could get in trouble. And so this is a good example of where I use supply and demand to potentially get them in a little bit of trouble. Because one of the plays that a volume profile trader will use is a value area traverse. Once you trade below the prior day's value area low and then sort of find some acceptance back within it there's Someone suggests an 80 chance. You're going to trade all the way back up to value area high from the prior session Um, i'm not really a data and percentages guy. So, you know, I don't know how much of that is true So i'm not thinking that here i'm thinking we spent a lot of time below value This day sure looks bullish here, especially here's a three bar up on the upside. If I zoom in just a little bit, I mean, this looks crazy strong. And, uh, but I know that I have supply sitting above. And so if I can get some kind of reaction, I'm not front running anything. But I've identified the low volume node. I've identified this prior buyer specifically, and I know this range, which is only 10 points, you know. So if you're trading on a two hour time frame, it might be a two, three day swing. 10 points is nothing. You know, I'm not looking to scalp with a 10 point risk. Um, but, um, if I see, you know, an entry, I'm going to take it. So that brings us into, you know, what I call my five minute reoffer setup. Why you got this? just absolutely beautiful three bar up right pretty much to the tick. It might've been to the tick, um, you know, where this guy initiated, um, and then this seller just comes in and just, just completely stuffs it. And given the strength of this move up, this sell side is even more impressive to me. So what I then do intraday is I mark the open Of this bullish candle and the open of this sell side candle and again, you can flip that Uh in a bullish sequence and that would be my five minute rebid setup And so what i'm what i'm looking to happen. This guy has taken out not one but two entire candles of price action And closed below. I don't just want like some little wick and then we rip right back up. I want to see this guy seal the deal. And, and gain some, gain some coverage here. Now he's got a little bit of room on his position. And I know I'm characterizing this as one guy. It might be, it might not be. There are some big players in DS, right? Some real big players. And you start to get to know them. But um, what you see happens is price returns Because again previously the day's been bullish. So everybody's excited. We're going to go to 5 000 today Um and price returns right to what's the high of that candle? Let's see 43 95. 75 What's the open of this green candle 43 95. 75? to the tick. So I can tell you I probably realistically got filled to the tick because I'm always looking to enter exactly there. I will say that over the last four to six months that I've been talking about this, people front run this by a tick or two. Um, but ideally what you would want to be doing is looking for confirmation through order flow. Um, I actually trade a lot like from work, um, on my phone, which most of my followers know. And so if so, maybe I set my order, but you know, and I have, I have an initial stop here, you know, three and a half points. Um, but if not, it's ideal to be looking at order flow or price action. You can look at this on the five, you see the perfect tag, he steps in lower high on the next candle and boom, you're in. Maybe you, maybe you drill down to the one and you get a little bit tighter entry. Um, but this to me, you know, it's a perfect example where I know that, okay, buyers might have gotten a little bit out of line. They ran into some big boy, who's probably the trap guy from the day before, um, or maybe the guy that did the trapping. And you get a nice move and a lot of times these will end up, you know, coming, coming all the way back through this range and, you know, maybe you can get 20 points out of it, 30 points out of it and you're risking three. So that that's, you know, an explanation of my five minute reoffer. Five minute rebid is the exact opposite. And an example of how I combine volume profile with supply and demand and with specific price action all at the same time. I love how you tell what you're doing like a story because you've painted a picture here. And I think that's such a huge part of trading is not just in the technical analysis, but it's the imagination of how the whole thing started and unfolded. And, you know, what could potentially happen because I think we get so fixated on being so technical that we do take some of the artistry out of it, but you don't do that. You actually bring the artistry in there saying you're not, like you said, you're not a purist. I'm just using your words, right? And you're looking at where you can find edge. And you execute off of it, uh, even though it is an artistic approach in some ways, I would say, um, because you're not doing it by the book, you're not doing something, you know, so systematic, but your execution in a lot of ways. Or maybe not in a lot of ways, just almost is systematic. It is. Yeah. The execution is, yeah, I think that's, I think that's perfectly fair. And I appreciate that. It's, uh, you know, when I'm, when I'm viewing the market and when I'm interpreting what the market is trying to tell me, yeah, I think it's, it's very much against the grain. Um, I break a lot of rules. Um, you know, you'll have, especially market profile rules. I see things a bit differently. Um, I mentioned that I sort of use concepts of market profile, but like, don't ask me to teach you market profile. I'm not your guy. Uh, because I just break all the rules. But, um, yeah, no, that's, I think it's exactly right. But then the execution is just pure price action. I mean, you could trade the strap execution off of, you know, my interpretations of what price is telling me, because it's still just a simple, uh, reversal on a short timeframe execution. It's exactly right. A couple of questions about things you mentioned. First off, why regular trading hours and not using. Extended training hours. That's a good question. I get a lot actually. So I, I use both, um, maybe, maybe I go a little bit overkill. This, this chart just happened to be there. It was a little bit cleaner. I keep, um, you could probably see the top of my screen. How many windows, those are all for ES. So like, you know, I don't have a whole lot of time, so I have like my templates lined up most of them. Um, and so I will do volume profiles specifically. I will look at regular trading hours. What does the profile look like? I will look at overnight separate from that Um, what does what does that volume profile look like and usually after cash has closed i'll just delete, you know The prior overnight session. I don't care that much anymore Um, so i'm mostly focused on on cash hours, but into the day I'm very, very much looking at what overnight is telling me, and I'm looking at that profile. Um, and then I would say most of the time I do keep extended trading hours on my chart. Uh, sometimes when you're looking at specifically a potential swing low. And this this this could be a good example. Maybe I can without blowing up my entire chart Maybe I can switch to the daily and give you a good example of a swing low So we had that recent swing low at the beginning of october, right? and uh You heard a lot of traders talking about how it was not a valid swing low Um, and I was one of those again. I'm not a purist so I ended up swinging long anyways, you know from 42 70s, but it wasn't a good low and so if you're just looking at Um, all hours when I switch to the daily, this gives you extended on trading view. So you see, this looks does look like a nice low. It took out the low of the prior day. We got a nice wick and we kind of ran from there. Everything looks good. You know, but if you look in on the, on the, you know, this, this will only give us RTH. If you're sort of a market profile trader, or, you know, a number of different types of trading, you're looking at these, like, to the tick, equal lows, and it's just like, I mean, come on. Is it gonna be that easy? I, I really don't like double bottoms on indices, especially ES. I really don't. Um, Yeah, I'm not a purist, but that that really bothers me. That to me just looked like stops or just begging to get run. Um, just begging to get run. I just see stops. There is all all that I see. And so that's an example of where, like, I'll use both because if you were just looking at all hours, you'd look at that low one. Yes, and say, well, that's fine. Um, so, you know, if you want to do cash hours only a little trick, but you don't want to have, like, two different chart template setups or whatever, just use SPX and it's going to be close. Though, you know, again, the bottom kind of looked a little better on SPX than it did on cash hours. Yes. But, um, so yeah, I, I actually use both. Maybe it's a little overkill, but I'm looking for, um, information on both extended trading hours and cash. And, and then I guess the other question would be like back adjusted charts or not back adjusted charts on ES, right? I know we can talk for an hour. It's also controversial too. Yeah, absolutely. You know, so we probably disagree on it and that's fine. I look at both actually, uh, for certain things, you know, I mostly do not back adjust. Um, but then once in a while, I absolutely understand that there's some things you might want on a back adjusted chart So yeah, I just I just do whatever like whatever speaks to me. That's where I go I think that's really not talked about enough. I mean people make it seem like you have to be a certain way and success doesn't Really come that way. I, all of the traders I know are a little bit unique and different and quirky, and there's something different about them. They're all a little off in some ways, like, like, why do you do that? And you're like, I kind of don't know why, man, I just do it, you know? And it just, and that's okay. Because. Brings us back to your execution. You believe in what you did. And to me, that's the key. That's why you are systematic in your execution and you're not jumping all over the place. And that's why you can also go and execute from your phone because you know what you're looking for. You know what you want. And that's the key to me. That is what really the difference is in a lot of ways between traders that really never find a leg up, never find a way to actually start making money versus those that do. It's really just the confidence in the execution saying I'm doing this and I'm sticking by it. Yeah, I think that's exactly right. The traders that are out there looking for. I just need to learn that, that one more thing, that one technical indicator that that guy has, and I don't. If you're out there and that's what you're thinking to yourself, then you're frankly not going to make it. Um, very, very likely not going to make it. If, if you're looking for that one next thing, you know, to me, it's, it's about really understanding, um, you know, all of the aspects of the market, having a feel for what's going on. No one indicator is the answer. Uh, it never always works. There's always something that blows it up. So, you know, do your best to understand what works for you and go with those trades. You know, you don't have to take everybody else's trades. I miss a ton of trades and I don't care at all. I choose not to take them. I'm just looking for specific setups. I don't even take a trade if I don't think I can get 30 points out of it. That's just personally what I, what I do. I don't always get 30, but like, I want to know that I could get 30 if this happens. And so maybe I can get some off at six. You know and get my stops to even and you know get the rest of my position to 20 or 30 or something You know, that's just way I trade so you don't have to trade like me. Uh, you don't have to trade like you. Um It doesn't have to be a certain style, you know, learn what speaks to you and go with that Let's talk about swing trading versus day trading. You're talking about getting 30 points Are you only looking for trades to get? that 30 points with the potential in that day? Are you holding them overnight or how do you differentiate between a swing trade versus a day trade? Yeah. Yeah. So that's a really good question. So I do both. I do both. Um, lately it's been a lot of day trading just because we have had a lot of the wild swings. Um, and then you don't know what's coming out overnight. But if I have a great setup, I will, um, I will swing it. And so, you know, the example would have been in early October. You know, things were pretty bearish. For the most part, we were bearish, but, um, you know, there was certainly some, you didn't want to be short on the way up here, you know, intraday, that's for sure. So there were some, some long trades, but to me, if I'm trading against higher timeframe participants, uh, which I've identified, you know, as monthly participants appear to be selling and weekly participants appear to be selling, I'm not holding a swing long. for the most part. Um, and overnight, right? I'm I'm mostly looking for day trades. Most of those trades are going to be day trade short, but not all of them. Um, but then when I see a potential set up for a swing long, I will take that and probably the number one rule that I'll use. Um, you know, and again, these October lows, um, really were the key is I need to see one of the things I need to see is value and I will. migrating higher from day to day. If I'm going to take a long given a higher timeframe, bearish context. So if we're in a downtrend, I'm never going to swing along unless the buyers have proven something to me. And so, you know, what that would mean, you know, is back in, you know, our previous example we talked about, we had the prior day's, um, value area high and value area low. I want to see today, were we able to bid above yesterday's entire value area? Because now, if we're trading the rest of today, or the entire day today, above yesterday's value area high, um, then the buyers are telling me that they disagree with those low prices. And so that's to me is a, the simplest sign for like, maybe we're reversing here. And so I won't ever just like buy the dip and then hope it's the bottom and then buy the dip and then hope it's the bottom. And so, you know, now we're trading, you know, into this new week, into some new lows. And we have to figure out, are we just buying this or are we going to give buyers a chance to firm up a little bit? And so I am looking for swing longs this week, um, while probably day trading short. Um, and then, you know, waiting to, waiting for buyers to prove something. So I do a little bit of both, um, but I need to see some kind of early shift at minimum. And, uh, see those buyers prove something to me. Let's talk about some potential scenarios you're looking at for the rest of the year. We've got the charts up. Maybe you go over on how you think the rest of this year maybe plays out. Yeah, so I think there's a couple of scenarios here, and, you know, a lot of people have been looking for this, uh, you know, everybody's looking for... You know, by end of the year, uh, a few weeks ago, I wonder what they're thinking now, I suppose. But, um, you know, there's two scenarios. You've got, you know, people talking about a potential, this is crappy trend line. Sorry about that. They're just on there. Um, I don't even remember drawing that. Um, but you've got people talking about a weekly cup and handle, uh, and we're going to new all time high soon enough. And then you've got, you know, some people that think we're going to 3800. Um, and honestly, like 3, 800 to 4, 600, nothing in that range would surprise me at all. It wouldn't surprise me. What I think is most likely is that we have sort of probed lower after sort of, you know, some of the hangover from AI mania. I mean, that's really what lit this. big breakout move that in my vacation when I go on vacation, the market goes bonkers. My followers tell you that's crazy. Um, we had that july move. Um, and so, you know, we're in some of that hangover phase. We got the treasury treasury issuance. We really had to reprice everything. And now we're just trying to find out where we're gonna balance. And to me, most likely is something like 41 forties. Yes. Um, to 4400, like maybe 4494. And like, to me, all of that is going to depend on whether any technical damage is done like this week. Like, I really think this week is going to determine whether it's something like a 200 balance or into the end of the year, like seriously, or more likely if it's going to be, you know, something like a 4, 140s or here at 4, 200 ish, um, into 4, 400, maybe 4, 494. I'd be a little bit surprised, um, if we get over 4, Um, into the end of the year as we sit here, you know, later October. So I think most likely, you know, we're finding this new balance and we'll probably chop around here. 41 high 4100s to, uh, you know, for mid 4300s would be like our primary range. Um, with slight excursions outside. But if we lose, we'll say if we lose 41 70s convincingly this week, um, it could get a little bit gross. 40 70 can come in a flash. Um, if we lose that 41 area. So it's, uh, yeah, I don't know. And I, and I, I try not to guess, um, you know, people like to make big calls and that's how they get, you know, a hundred thousand followers. That's how you get popular, buddy. Yeah, it really is. You know what? And honestly, that's like, it's probably why my following is just sort of grind it along, grind along, grind along. We talk about ES, we do some individual names. Um, but yeah, you know, I'm not, I'm not posting enough bear porn, I guess. Uh, I think, I think I could be a hundred K like in a flash. Deli if I just posted some good bear porn, so no, I think most likely is, you know, mid 4100s mid 4300s into the end of the year Um is most likely but we do have the opportunity Uh to both trade significantly lower. Um, I don't I just don't see a whole lot higher than Yeah. I like how you talk about the markets and ranges. And if we go there, we'll wait to see what happens there. If we go there, we'll wait to see what happens there. And that's why you and I are very similar in that. Like we don't make any big claims. I'm, I'm only out here to put forth a plan. And if we get there, then I'll know what I'm going to do. I mean, I might have a great area I want to be long in, but if the, if the action is terrible, when it gets there, I may not buy it, you know? There's just so much that could happen and look at what could happen geopolitically as well. What could happen, uh, in commodities and the dollar and interest rates and how that can have an impact on, on US equities. There's so many things, but you know, as, as technicals go, it's good to hear you talk about ranges. And I appreciate you sharing that insight with us. Um, You know, to close out today, I want to talk to you about a couple of things. I think, you know, just trying to get to know you better. And I think that, um, I think for the audience to get to know you a little bit better as well, what was an influence behind you as a trader? Was it another trader? Was it just finding it on social media? Was it a family member? What is the book? What triggered you to get into this business and what has been influenced influential to you? Yeah, well, I mean, honestly, we could spend an hour on that. It's a pretty funny story to be honest, but. I was eight and I did, uh, I did filing for my mom's small business and came across, you know, this piece of mail that I had to file that's had her name, FBO farm DKS. I was like, who's farm DKS? It turns out it's me, you know, 30 years later or whatever. Uh, and, uh, you know, I opened it up and it's like this money or whatever. And I'm like, what is, what is this? And she explained that it's a little mutual fund or whatever. I was like, okay, that's cool. And I followed it over a few months and I'm like. I'm like, I get rich off this week. What is this? And she's like, Oh, you know, you can buy stocks or whatever. And so I started just like reading some books, you know, about that. And I was eight years old. This was like 1990. Um, and, uh, you know, ended up buying a couple individual stocks and, you know, just at that time, just dollar cost averaging into it. And then, you know, the rest was kind of history. I didn't, I didn't, I didn't pay close, close attention. Once I learned about girls, um, I focused on getting really good at that, you know, for a while. Um, but at one point, you know, I had a side hustle at 1213. I had like really good money in a brokerage account and some stocks, like good timing, like right into 1999. Like I thought I was the best investor in the world. And then like, you know, I happened to sell some like in 2000, uh, to go to college and like buy a car. And so like, I used like half my account. And then I just remember coming back after first semester, I never even looked at it. Right. During college, first semester, I came back and I was like, what the hell happened? Like, it just got cut in half again. Um, so like, yeah, you know, I've always been aware. I didn't really start, um, actively, um, you know, doing anything more than investing until, uh, after 2009, frankly, when things got easy, because like I wasn't. You know, some amazing trader or anything back in 99, 2000, I wasn't some amazing trader and the GFC, I just like kind of held on a little bit to some things. I luckily, you know, happened to be allocated, you know, pretty reasonably just by luck, um, and, and didn't really start swing trading and taking a little bit more control over some of my investments until, you know, 2009. Cause it was just, I mean, it was, let's be honest. It was straight out for, you know, almost 13 years, really. Yeah, so well, thank you for sharing that. I want to leave in this final question today. You know, the markets have been whippy. The environment has not been the easiest, I think, especially for a lot of newer traders. Uh, I mean, I've got my camo on today. I feel like I'm coming, uh, to a, to a battle every day. It has been tough. I know that I've been stopped out of a lot of stuff intraday, you know, quite often. Talked about this on Twitter. It's just doesn't matter how small you get. The market seems to be finding your, your, your threshold and getting you out. Talk to everybody, maybe give everybody a little bit of advice or just your thoughts on how you're handling this really whippy and volatile market environment. Yeah. I mean, you mentioned the first thing is, is your size. I mean, especially now, you know, this last week as volatility is getting even higher, I mean, you know, you just remember a few months ago, I mean, we were having like 22 point range days. You know what I mean? Like you could just like size whatever and like you're not going to get hurt that bad, right? Um, what's that's not the same anymore. So that's the first thing is adjust your sizing You know relative to the daily ranges that you're getting and volatility if you just want to have a rule Just like maybe size down over a vix of 20 if you're a newer trader and really size down You know over a vix of 25 or whatever. That's the first thing but the second is like just I mean, don't over trade. Like so many people just have to be in a, in a, in a trade. And so again, if you're looking for those specific setups where it's just grade a, um, and you know what, like maybe I'm lucky that like sometimes I'm busy with work and, you know, managing, you know, some other investment accounts or whatever. I can't do that. I can't over trade. And so maybe, you know, maybe that was a good thing for me because, like, I'll take one trade a day or two or zero sometimes. Um, and so to me, if you just focus on those high probability setups, you know, that have a high reward to risk, like, that's the other thing to me. And stop trying to mess around in the middle and always being in a trade because, yeah, you're just going to get whipped. You're just going to get whipped. Yeah, I mean, you nailed it. The overtrading is absolutely the killer. It's what gets myself and most of us out there into trouble. You feel like you have to do something because the market's moving, or you try to make a couple of ticks and you lose a couple, yeah, that didn't work out the way I thought it would, um, farm. This was great. It was such an, uh, Pleasure to meet you. I got to tell you, I'm really a big fan of your work. You are under followed. I would tell everybody to go out there and follow you. I know you've got your sub stack. Tell everybody where they can follow you on Twitter and talk to us a little bit about your sub stack and why people should go and check that out. Yeah, no, I appreciate that opportunity. So Twitter handle is at. FarmD, it's P H A R M D and then underscore K S, uh, so that's my Twitter handle. Um, you can go to farmdks, no underscore, dot com. Um, that'll link, uh, directly to the substack since Elon on Twitter likes to suppress it. Um, and, uh, you know, I launched the substack, um, because, you know, I've been sharing a lot, you know, w with no, you know, kind of... business model or anything for, you know, a couple of years and a lot of people have been asking for more because, you know, they like what they see. And, you know, I'm married. I got four kids. Um, I've got a job, you know, I'm trading to pay so my wife can be retired. So like, and then, and then I'm managing accounts for mom and pop and, you know, doing this stuff. So I'm a busy guy. And I was like, well, You know, to me, like my kids and my wife are the most important thing. And like, I'm not just going to, you know, spend that much more time doing something for free. So I started it off at like a, frankly, an absurdly low price point. Um, you know, just to do something and provide extra. And like, to be honest, my trading has been way better because. You know, it used to be I'd wake up, you know, 15, you know, minutes early and look at the markets and, you know, then post some pretty good stuff, frankly, um, on Twitter, you know, some pretty good reads, um, but I didn't, you know, need to trade and, you know, so I didn't prepare as much and, you know, now that I've got other people that I'm teaching and, you know, outlining specific trade setups, you know, the night before I'll outline two or three very specific and actionable trade setups, not just like these little levels play level to level. It's like, If this happens, this is what I would do, and this is what I would expect. And then I come in in the morning and update via a live chat, you know, which we actually launched in a discord today, like just for chats, we'll come in and say, this is what's happening. This setup is presenting, you know, I'm going to go ahead and take this. And honestly, my trading has gotten a lot better because now I'm spending a lot more time, you know, doing that as well. So it's been good for everybody. I think, um, we've been sort of expanding, you know, the content over time as people have frankly been very interested. Um, and so I appreciate that, you know, very much everybody who's been out there and, uh, you know, I'm just looking forward to, to making a difference in teaching. I love to teach. Um, I probably a better teacher than I am a trader. And frankly, I'm a pretty good trader. So, um, you know, I really look forward to, to, uh, building this out and helping a lot of people learn, you know, what I do and they like it. That's great. If they don't, that's fine too. That's awesome farm. I'm happy for you. You deserve it. Uh, everybody go out there and follow farm D underscore chaos. Check out a sub stack guy puts the time in. I mean, farm. I'm a fan of yours. I think you're one of the good guys out there. It was really such, like I said, such a pleasure to get a chance to speak with you. And I thank you so much for coming on the podcast today. Thank you so much for coming on futures radio. Appreciate it, darling. I had a great time. Thank you for listening to Future's Radio Show. If you enjoyed the show, please leave a 5 star review on iTunes. Never miss an episode. Go to anthonycrudelli. com and get on our email list for show notifications and for free content that is exclusively for subscribers. Also on anthonycrudelli. com, you will find tons of videos and education on trading futures, options, and crypto. Past performance is not indicative of future results. Opinions expressed are solely my own and my guests, and they do not express the views or opinions of my sponsors. Futures Radio Show is produced by Crudelli Productions.