Notes on Trading Livestream and Mentorship Session

Introduction

• Presenter apologizes for a late start due to technical issues with OBS streaming service.
• Mentions the goal of mentoring and encouraging his children to be independent and not rely on others for income.
• Discusses his son Caleb showing interest in trading again and wanting to document his progress via a YouTube channel.

Teaching Methods

• Presenter emphasizes a unique teaching approach for his children, being sincere and empathetic.
• Mentions not cultivating an employee mentality in his children.
• Suggests that viewers might not benefit if they are already profitable and could get distracted.

Trading Insights

Mindset and Preparation

• Importance of having a reason to be in the charts every day.
• Discusses setting up a trading framework and mindset.
• Suggests starting trading at 8:00 AM due to an upcoming news driver (ISM PMI number) at 10 AM.

Key Trading Concepts

• Bias Determination: Look for smooth areas in the chart that indicate likely disruptions.
• Time Specificity: Trading decisions should be based on specific time frames and market conditions.
• Session Analysis: Study from 7:00-7:30 AM, 8:00-8:30 AM, and 9:00-9:30 AM.
• Chart Analysis: Use three primary time frames: 15-minute, 5-minute, and 1-minute charts.

Trading Strategies

• Smooth Areas: Identify smooth price levels where the market is likely to draw liquidity.
• Jagged Areas: Avoid trading in areas where the market has already shown jagged or unstable patterns.
• Order Blocks and Breakers: Understand the significance of these in predicting market movements.
• Manual Intervention: Recognize when unexpected events disrupt normal trading patterns and increase risk.

Practical Application

• Presenter discusses his son's plan to use Top Step for a funded account.
• No secret communications; everything taught is openly shared with viewers.
• Encourages structured learning to avoid gambling mentality in trading.
• Suggests trading with micro contracts for beginners to mitigate risk.

Final Thoughts

• Emphasizes the importance of discipline, rule-based trading, and journaling.
• Encourages traders to focus on personal growth and not compare themselves to others.
• Concludes with a motivational message to embrace challenges and develop trading skills responsibly.
• Mentions upcoming lectures will delve deeper into technical aspects of trading.