okay guys what every new and/or aspiring Forex trader wants to know now before we begin I would it's very important you understand what I'm about to tell you I'm not trying to be egotistical or arrogant about but I know exactly what you're looking for I've been trading for 20 years it's over two decades worth of real world experience in the trading markets and not just the forex market so I've been exposed really to a lot of the things you probably either just now getting interested in in terms of technical tools or concepts and I probably pretty much discarded at least 80% of the things that you probably are trying to learn now for technical analysis it's simply because they do not work it's my life's passion really to acquire some of the most powerful trading concepts that are available to technical traders and I've accumulated a pretty good toolbox over the years and it's my pleasure now to share that with you so you want to be a Forex trader well let's first congratulate you with that decision because I mean this from the bottom of my heart I think this is the absolute best asset class there is and that flies in the face of one of my mentors Larry Williams opinion of the forex market Larry Williams is on record stating that the foreign exchange market is the worst place to be in and I've come to realize that's not entirely true I believe that our mentors opinions are beneficial to us but we are never to be locked in to one particular person's perspective and that goes with me as well so if I say something that does not resonate with you as a developing trader or someone that has experienced don't let that influence you and not at least seeking out that matter a little bit deeper I simply don't like Bollinger Bands for instance and you may acquire a taste for using that as a tool so don't let my insights discourage you okay from doing further research I'm confident that even if you deviate from my material you will come back to if you sincerely given it you know a thorough going through once or twice but I think this business is very very beneficial okay to small traders because if you're trading in the stock market how how many shares of stock can you buy of Apple right now they just did a four to one supply I think it was now it's like $90 a share at the time of this recording but how many how many shares you're gonna be able to buy if you have a thousand bucks not many and if you're trading a commodity market okay the initial margin on some of those particular asset classes are pretty hefty as well okay so and plus you're stuck inside of the the futures contract specification and for instance you know if you're trading the currency the British Pound okay you're stuck trading either the mid-and contract or the u and a half of a full contract or you're trading the large contract okay so you're kind of like forced to either trade one or the other and either one of them may not even fit your risk parameters that you would need based on the equity do you fund your account with that doesn't occur in the foreign exchange market when you're trading spot retail you have the ability to tailor your trading based on your risk adversity and so in other words if you are very very conservative and you don't want to trade a whole lot in terms of risk okay you can gear your leveraging down to very very small risk now you're not going to make a whole lot of money okay but you're not risking it a whole lot either and that's really where you should be at as a developing trader not focusing on how much money you can make so there's a lot of rules that we're gonna be putting on you okay and shaping your mindset as it were okay for a developing trader and how to build this into your business but for now okay understand that this is an exciting adventure for you there's something that you could do a very very good living okay an exceptional living if if you if you develop accurately in terms of into the process of becoming a methodical trader rule-based trader and if you adopt a strong psychological profile for how your trading relates to dunya fights Street traders okay and really if you're watching this video you're probably in that category and it's not to be offensive we all start there okay but if you understand that you you have to you have to pitch a tent there for a little while but don't move into that neighborhood you're gonna eventually move out okay and move into a developmental you know process of developing into a professional traders so before we get into all of the specifics let's go and look at some of the rules okay to building a solid foundation as a starting developing trader now again I don't mean this to be arrogant but I know exactly what you're looking for you're probably watching this video at your job and or you just recently got off of work and you're watching videos that has been shared by me and probably other people in the internet and you're pretty much daydreaming about what it would be like to get out of the rat race and I know exactly how that feels I've had worked some of the most god-awful positions in terms of working class and I am pretty much the definition of a working class hero I I was not going to stay in that industry of being a slave if you will to demand I've never been wired to be subordinate to anyone not for a long period of time if you will I've always been rebellious in a lot of ways as a relates to that so I've been motivated to always find ways to you provide a means of financial support to myself and my family and not really be dependent upon you know that the guy that calls himself the boss over me you need to call the shots so I know exactly what you're thinking I know what you're wanting to do okay and even if you aren't being honest with your yourself and me okay if we were in the room together some of you may say well I'm not really in this - you need to get rich well you're probably lying through your teeth okay everybody wants more money okay and greed is bad okay but it's understandable that you should want to be able to provide for your family okay and that's what I'm gonna give you some skillsets to do okay I can't promise you wealth okay can you acquire wealth doing these things absolutely but I can't promise everyone being able to do that because you're all going to develop on a different timeframes and some of the skill sets that are gonna be shared with you it's gonna have to require work on your part and you may throw in the towel you may get frustrated and quit you may require more time than others okay and it's going to require your use of demo account and you probably have already utilized a dental account a few times now you probably dusted it okay now it's busted all the to pretend money in the account and I don't want you thinking that that's you know without consequence there is absolute bad habit forming when you play around in the sandbox in a demo account unless you're doing specific skill sets that are inherently designed for you to adopt a a pain threshold and there are some of those skills we're going to be sharing in drills and exercises but I want you to understand that when you're in a demo account you should be treating it like it's your business okay it's like it's your account and don't open up in a demo account with $50,000 and pretend money because you're most likely chances are never going to be opening up a Forex retail account with $50,000 if he's never traded before so I don't want you thinking that you know the answers are gonna be found in forums I don't want you thinking that there's going to be this magic pill out there where you swallow it and all the sudden you're super trader there's no specific method after that's perfect mind is not perfect you're going to lose money doing the things that I do okay but you're gonna develop as a extremely precise trader if you put the work into the tools I'm sharing and exercises and concepts I don't want you thinking that you have to go into this trading every single pair that's not needed okay you only need one real particular pair you may like the euro you may like the Aussie US dollar you might like the cable okay and it's really a personal preference whichever one you like pursue it trade it for a little while learn its characteristics but you don't need to be trading a whole lot of pairs and don't think that you're going to be getting rich real quick because that's why 90% if you believe the statistics that are shared with us fail in this business and it's not just Forex its trading as a whole because everyone goes into it for the same reason they want to quit their job this month they want to do it with no money in the account $500 they're gonna be the next guy that retires and makes it to the front of futures magazine or you know trader magazine this month okay and they're gonna be the centerfold I don't want you thinking like that okay and if you're playing a demo account and you feel that one fuzzy feeling when you get a win on paper trades don't buy into that okay there's chemical reactions that releasing your brain when you see yourself being right what you're teaching yourself okay you're teaching yourself that when you over leverage with no plan it might work out so therefore that's how you're gonna make your money and that's how you're gonna quit your job and that's not how professional traders trade that's not how working class heroes come out of the rat race and leave that that slave mentality to be a self-sufficient independent thinking profit producing trader okay that equation never evolves to professional consistent trader okay that is a gambler that's the folks that go into account with live funds and dust it in 30 to 90 days okay that's statistics that's proof that's what happens and we're in the business of avoiding that okay every business goes into the beginning with the intent of making a profit 80% of businesses go into it with no plan and they fail okay so don't be surprised if that's how you go into forex trading if you have no plan and you're just playing around demo account you think it's gonna be like lottery okay don't watch these videos okay because really you're wasting your time and you're really you're really doing a disservice to yourself and a certain measure of disrespect because I'm putting a lot of emphasis on tools and concepts for you to be empowered by but not to be you know cherry-pick don't go through this material and pick out what you like go through all that now there may be tools and concepts that don't resonate with you but I have a couple of them for each stage of analysis and you can find one that really resonates with you and run with that but I don't want you thinking that you have to be getting rich quick that's not what you need to be thinking here and if you've been thinking like that I want to ask you where have you gotten with that mindset you're still working your job you're probably more miserable now than you did before you found Forex because it was one of those one more dead-end opportunities one more could have been but it's too good to be true type thing and not guarantee you by the time I'm done with you you're gonna realize that Forex is not one of those things at all now know what you've been thinking and you're probably smiling right now I know but think about it you've been thinking about the likelihood of making your annual salary inside of a couple months how well you're gonna look amongst your friends how well you're gonna look amongst the opposite sex maybe your spouse would be much more you know impressed with you maybe your in-laws will love you more okay but the bottom line is those things are external okay those things are things that are gonna cause you to feel like you have to weigh your performance to be significant and that's not what you're doing this for okay you want to be trading as a business I don't see fast food chains think about like just McDonald's just about every person on every continent knows who Ronald McDonald is even though they started their business and they framed it with a foundation of a clown of all things to have as your mascot did they go in clowning around as a business no way they use that trademark image of a clown but they're absolutely dead serious about making profits and then they make profits they do very very well that's how you should be thinking you want to be thinking how can I go forward as a business owner okay with no employees except for you okay and you need to be going into this with that mindset thinking I'm going to be turning this into a future long-term business I'm going to be replacing my income with this very concept of extracting funds from the foreign exchange market but it's going to come with work it's gonna have to come with a lot of effort and it's gonna be expensive I don't charge money but I promise you I'm gonna charge you time because I have to force patience in a lot of you it was forced of me that's how I learned the best things come with adversity and you're gonna learn that your greatest lessons are gonna come with pain submit to the pain submit to the adversity and above all submit to time you're gonna need to relinquish this necessity to being right because when you start looking at the right side of that chart and not knowing what to anticipate or expect if you haven't done the work with all the skill sets and the drills that we're going to be doing you won't have the foundation to rely on knowing what to anticipate you're going to be reacting like everyone else does in the retail market and lose their shirts alright forget what you think you know now if you are one that likes to dabble in other people's methods and/or resources and you like to blend well I think of them work with me ok so it's gonna require you to empty the glass okay or forget it altogether because if you come into my material and you want a cherry pick you aren't going to get the benefit of the full immersion that's required to get the the Macra view down to the micro view okay and by having this willingness on your part to just simply let go of everything you think you know okay and I understand it's gonna be hard okay but I can't stress it enough that it took a lot for me to undo a lot of the things I learned in the beginning I thought I was really being taught by some of the best traders in the world by buying everyone's book out there because if they wrote a book obviously they must know something that you know I don't well what they did was they knew I would be buying that book and those particular people were making a living off of buying you know selling books like you know I was there their customer and I'm confident that the majority of those authors were never really successful traders or even trade the markets ever and I've been to pretty much everything that's available out there and I've pretty much seen everything there is as it relates to trading not only on the retail level but on the institutional level decide that most people aren't really privy to I spent a lot of money for my education much more than I should have and I can tell you the majority of it was a waste of money and time a lot of the lessons I learned and I did have a handful of mentors no no don't get me wrong and I have a video on the internet that discusses where I learned my materials from and how they inspired me to get some of the other insights I gleaned from just simply going to the marketplace on a daily basis looking for opportunities but I have been through everything and digested everything that's pretty much available as it is now and even still to this day I buy courses and books so because I have the resources to do it - I have the time to go through it and three I just want to see if there really is any truth to the scripture that says there really is nothing new Under the Sun and I can tell you there really isn't anything new out there it's just regurgitated you know for a lack of a better word crap okay that hasn't worked doesn't show any form of consistency and it's the same old carnival trick where they show things that look like they've worked on the left side of the chart but the ability for you to find that on the right side of chart is pretty much fleeting and far and few between what I have discovered is that because everyone's drinking from that same well the water source is tainted and it wasn't until I took a step back and more or less looked at everything backwards everything became much more clear and it was further confirmed when I got involved with folks that were much much more knowledgeable than I am and they pretty much tapped me into a perspective and looking at the marketplace that's completely and utterly unique if you look at the books they all tell us where to put our stop loss and they all tell us when to buy and sell but that's exactly where everyone puts their trade so on and losses think about it if that's the case why are we doing that because you're being trained like a good sheep to go out and get slaughtered think about it that's what's been going on all along but nobody is willing to admit what's been set up all along you are being programmed to lose money it's my goal to really shock you because I don't want you going into thinking that this business was created okay for you to come in and make money it's not this was not designed for you to come in and make money this is a playground for the banks and you are sheep for the slaughter if you understand how the banks operate how the dealers operate how the market makers manipulate the marketplace you can ride on their coattails but I don't want you thinking simply because you've read a book or you bought a course or you went to a workshop or you went to a seminar I don't how much you paid for it how good different Dementors are don't think that that's all you're going to require to go in here and start making money you need to have a little bit more information and sometimes a peek behind the curtain and I'm pretty much the only one in the internet that really breaks it down and such a way where a it does sound like conspiracy theory but - I can back it up with how the price moves how why it moves when it moves and how consistently it if you know it occurs and I've developed concepts to more or less methodically explain how those individual components are stage by stage by stage step by step how they unfold what sets it up why it's unfolding and it really when people are watching my videos and some of my analysis concepts that are before the fact it blows them away and I mean again I'm not trying to be compass but it's just that's the shock value when you understand how the markets trade when you are involved with someone that really knows what goes on behind the scenes if you will it's very very exciting when you see the things that are discussed as probable reactions or expectations and it unfolds to the tee it's very impressive to neophyte in layman's and sometimes to even traders that have been around for a while the level of precision that are but that's acquired okay with these skill sets it's again equally if not more impressive to those because they understand how hard it is for them to you need to pull money out of the marketplace as a new trader you really don't know that you think it's like going up and pulling an apple off the tree okay we're pulling you know a stack of 50 s out of the money tree you think is existing in the forex market you're just seeing through roast rose-colored glasses everything looks the same to you and it looks like you know easy money if you don't have a plan I guarantee it's going to be a nightmare for you okay and we're going to build on that as we go but I want you to understand right now where you're at on the food chain and how you're going to be able to move yourself from being a sheep to a predator okay and now officially I want to welcome you to your new beginning because we are about to set some ground rules for you and I understand that we as human beings don't necessarily like rules and if you look at the signs that put on you did your next-door neighbor's lawn they'll say please don't walk on our lawn and you're walking your dog and what do you want to do you want your dog to go walk across that lawn or you want to step on that lawn inherently that's our nature we want to do the very things we're not supposed to do okay I want you to leave your ego at the door okay don't don't judge me don't judge the material until you going through it and don't think that you're something that you really aren't okay I'm not impressed by people sending me emails saying that they've been traded for X Y years and they've been doing X Y Z of trading method and it does this and it's best that I'm not interested in if you're if you're that type of person okay again I'm not in this for you to teach me anything okay I'm in the business of sharing my experience with you and it's because I there's going to be an exchange hopefully in time I want your story I want your success story I want you to share it with me that's why I share my real email addresses with you I spent a lot of time because my interest is really pegged to what you do with this information and I want you to be a blessing to someone else in the future I don't want any money from you I'm not charging any any subscription fees or any I'm not selling you webinars and seminars and books and all this I'm not doing those things what I'm doing is I'm exchanging a relationship for a future reward that's what I want I want to know what you did with this information to help someone else it maybe help them buy a house it maybe even buy them groceries it may be helping someone that lost a job get you reestablished okay or it may be just you know giving to a charity and helping you know someone that's you know less fortunate than you are okay and you know that to me is what we've been placed on this earth for to help our neighbors okay and treat everyone like they're our family and that's that's the motive for me doing all this okay I get question all the time why am I doing this why am i spending so much time doing these things without any monetary exchange I get more return with thank-yous because that's really a mom looking for is to thank you and the future story of your success I get more from that than you could ever do giving me money I don't need your money I don't want your money your your story and your inspiration okay that you share with me and I've had a lot of individuals give me that over the last 17 years of teaching okay I've had a lot of relationships on the internet and many times I'm brought to tears with the you know the sheer inspiration that has been given to me by those that have done the things that I was hoping they would do with this information and yes I've seen some people go out and try to put it in and in the things and sell it and when I find out who they are I go in and I try to tear down their their business model because I'll make available you know my time and tear down and yeah they're there their business plan to try to take what I give away for free I go out and I more or less cut your throat to do it for free and take away their paying subscribers and just welcoming them into our fold as you know free members there's no there's no charging of anything with me and again because I don't need your money and I'm thankful for all those that take part and the currency that I've adopted for doing this which is your thank-yous and your stories of you know inspiration which you've done with the information but there's something I want us all to understand going into this as a trader it's going to be important you understand what type of trader you are and it's going to come with some understanding of some internal dialogue you need to ask yourself a lot of questions are there specific to developing traders are you someone that procrastinates okay do you change your mind a lot does it take very little to change your mind if you think like that that tells you a specific profile of trading is going to suit you better than another real quick decision making are you an irritable person that flies off at the handle real quick you would be excellent scalper or day trader because you can see these minor reactions in the marketplace and make a decision based on that okay if you are very slow to make a decision your ponder a lot it takes a lot of you know it takes a whole lot of influence you know for you to make a decision and change your mind about something you're a wonderful position trader a long-term trader if you're pretty much a happy good lucky guy and or gal and you're pretty much you go with the flow you could be a very good swing trader don't underestimate the power of doing this personal study and I'm encouraging you to do this for a week spend some time about some of the things that you think about how you react with your family your spouse your co-workers okay how do you feel about you know all the things that you engage on a daily basis and the decision-making process that you use to go along throughout your day are you quick are you slow okay are you pretty much even-tempered and you pretty much can go in any environment and not really fly off the handle and not really you get too lethargic about making a decision if you are really balanced that type of trader is in my opinion the best because he can or she can position trade swing trade short-term trade day trade and scalp okay and that's really where we want to get to and if you are an erratic short-term thinker you could start off as a scalper and a trader but eventually develop into that balanced trader where you can trade all timeframes and the same thing about that slow pondering decision making a long term trader we can give you skill sets to move you closer to a more balanced way of thinking where you can change your mind a little bit shorter term and not have to are so much in terms of influence to decide whether or not you Envy virus our now we're gonna be requiring you to utilize a demo account and I don't want you to misrepresent the concepts okay and share you know results that I'm not going to be impressed by okay the demo account trading is not for you to send me pictures or screenshots say look I've made this much money on paper money okay right I made this many pips your demo account it's just simply for you to look at nobody is supposed to be looking over your shoulder right now unless it's your spouse or your business partner that you're going to be going into business with later on down the road if you don't have enough money to go into this with my funds but I don't want you also to going into a demo account with more money than you intend to trade with okay and that may be a little bit of a constraint because some of you may have less than five thousand dollars that you entire did you intend to trade with in that case there's a lot of demo account so you can open it with five thousand if that's the case whatever your demo account balance is when you open it up only trade with the leverage that you would be able to trade with using the operating expec wa t that you would have in other words if you only have a thousand dollars then that's all you use regardless of how much free margin you have in that demo account you're not teaching yourself anything except for bad habits by over leveraging or doing things that you wouldn't be doing with the amount of money you plan to fund your live account with over time do not underestimate the power of making bad habits form with demo account trading ok demo account trading is given to you as a free tool by brokers now I want you think about this why would they do that because if you went into this with real real live funds would know understand what you're doing you'd lose your money right away and you would you know you wouldn't feel good about none of it okay or your first losing trade you would close your you're trading your trading can't be done with it what happens is if they give you a demo account and you play around in the demo account you over leverage you take a million trades in one day and your mind is only going to focus on one the good ones the winning trades and it's just like anything else a casino everybody oh no everyone knows that ninety percent of people to go onto a casino lose their money so why do people go into the casinos by the busloads they fly out to Vegas they fly out to Atlantic City they go you know around the world to you know these real high-end casinos why because they want to be that one winner they want to have that one winning experience they want to have that that rush of having had that that that winner's mentality even if it's just for one time they want that excitement what if it does happen factor well I don't want you having that as a traitor especially as a development trader I want you to understand that you are a losing trader every single time you put a trade on every trader is a losing trader as soon as they click the execution when they click to get into that market they are a loser from the beginning okay and we all have to trade out of that losing position and how well we're able to do that defines our longevity and our career as a trader treat the demo account like it's your business equity all right now it's time to be honest now you've probably been playing with the $50,000 demo account and use over traded you ever leveraged just to see what happens now when you get these emotional charges from doing that what it's doing is it's mentally reinforcing that that's the goal you want to feel good about the trading that's not how you develop as a trader you want to remove the emotion you don't want to have emotional attachment to the trades take the emotion out by keeping the leverage low it's not about making a lot of money fast it's about making consistent money over time I promise you as we work towards the end goal here you'll see very quickly that you only need a small amount of equity a small amount of return and a lot of consistency and to do very very well and it doesn't take a whole lot of effort really or work to be consistent but it does take a lot of patience okay and it's going to be a paradigm shift that's going to be needed okay for some of you have already wasted a lot of time playing around in demo accounts okay forget all that nonsense you need to understand that this is going to be an expensive journey you need to forget your ego take all those things and leave it at the door you are a new trader you're completely blank slate and your demo account is representative of the decision making process that you are going to develop as a new trader and how you interact with the marketplace based on the equity that you intend to trade with and the leverage that's used with some risk management and money management now obviously you just heard me say we're not trying to get rich quick because in the beginning you don't run you learn to crawl then you learn to stand try not to fall down and when you do fall down try not to get hurt too badly and you walk and you walk briskly and then you can run then eventually you can sprint but all too often everyone puts their money in the account and they sprint and they just quickly lose all their money you don't need a whole lot of pips don't think that's the that's the answer okay I see a lot of guys that sell their wares on the internet that you you know our system makes 20,000 pips a year okay I've made 80% accuracy with a you know 80 million pips in the last five years you don't need a lot of pips okay if you can consistently carve out a specific return a very low end return okay I mind you if you consistently do that and you manage your money appropriately you're going to use the compounding effect to build your equity over a period of time and you don't need a whole lot of money and you don't need a lot of return percentage-wise so discard whole that whole mentality that you need a whole lot of pips discard the whole I got a trade every single day that's not that's not essential okay what you need to be thinking is I can do a very very good career with less than several hundred pips per month and I'm going to show you that as we go now it's important that you stay rooted in the reality of who you are as a trader don't go into this with the development process and when shouldn't you start seeing consistency don't let your head inflate okay you're not you're not going to get anywhere by inviting ego that's the same thing as emotion by having that come into your trading and into that development okay you're going to play gear development you're gonna you're gonna cause pitfalls okay that are just waiting to open up and swallow you don't go into the forums and measure yourself against everyone else don't go in there bragging that you've been you've been just super star student okay and you've done XYZ results with the information so that you know therefore you know you're better than everyone else okay I'm not impressed by that in fact I'll shoot you down in private email or a PM if I see he's doing it okay because it's not beneficial to you nobody wants to hear it anyway it doesn't make them feel good about themselves it looks arrogant it looks pompous but more importantly it's detrimental to your development because you what you're doing is you're inflating your ego you don't want that to happen okay there when you enter the marketplace you are sheep every single time until you close the trade as a profit okay and then that's what makes you a predator that's when you leave the sheep level of the food chain and you go up to the higher level where you're the apex predator so you might think right now okay you might have the right stuff but I promise you if you have that mentality and you're very egotistical your tombstones already being carved out with your name in it you're gonna be in the traders graveyard you will be in that graveyard of people that dusted their account it's just gonna make a matter of time because you're inviting ego you're inviting fear and greed and emotions are gonna be responsible okay for your downfall all right I've already said it earlier but you got to relax it doesn't take much now I know you probably hear a lot of guys talk about how many pips they've made over the last week or two or today or yesterday or the last year don't fall into that trap okay don't fall in a trap I'm gonna show you how you can make less than 25 pips per week and that's yes total for the whole week risking no more than 2% you can more than double your account every single year now how do you do that all you have to do is earn a measly old 6% return per month now some of us that have been around this business for a while or in speculation 6% return is astronomical okay but I know some of you aren't impressed by that because you're thinking if I'm gonna open up my account with $200 and I double it in a year I'm only gonna have $400 plus I gotta pay taxes on that money then the next year my $400 is gonna double to $800 how am I gonna get rich doing that well it's not about thinking getting rich quick I've already told you that but if you are able to do this if you think like this if you have a thousand dollars of speculative capital you allow time to do its work making less than 25 pips okay it works out to be about 20 3 pips if you do the math if you do that okay and say your average 25 pips you would be turning that $1000 inside of 10 years US made over a million dollars doing this approach now I'm gonna ask you something do you see yourself 10 years from now okay having a million dollars doing what you do know what you know going to the job is you go to work out every single day do you see yourself having a million dollars ten years from now if that's not true okay then you need to be make some changes ask yourself this say hey say you've been messing around with Forex and last couple of years and years never found any stride you're just spinning your wheels how can you feel good about what you've done with your time obviously it's it's demoralizing and I know what that feels like I've went through that I've done that not with forex but with wood Futures Trading I got lucky going in initially then I had to learn how to be a trader okay because I lost money and then I had to forget a lot of things it's painful that stuff's painful I could have made a whole lot more money than I have now if I would have known the things I'm sharing with you right now for free but ego got into my way and then fear Gantt got in my way and then desperation and I was you know I was I went through every possible scenario but I want you to answer a question if you've been a losing trader I want to ask you even if you only made 5 pips ok profit for the whole month wouldn't it be better than you have right now now imagine if you slowly build it a point where you can consistently make 6% a month and you're doubling your money every year banks right now are paying less than a quarter percent if you can get that for a whole year and you can turn a hundred pips a month with 2 percent risk you're doubling your money every single year that's phenomenal if you did just three percent that's phenomenal okay in terms of returns you can carve out an amazing career but it's going to take discipline consistency and time if you haven't been consistently drawing a return that's comparable to this my question is this how are you feeling now thinking that it only took this much in terms of return in terms of pips as well per month to be able to wo double your account did you double your account last year how about the year before that how about are you on track this year to double your account I'm not teaching that you have to double your account guys on the stating that this is what you can expect with very very low expectations and realistic returns in mind avoid the traders graveyard guys I want to leave you with some really important points here as it relates to over trading and over leveraging I've been a victim of this in my trading as a futures trader I know what it's like to just totally decimate your accounts and yes I said accounts that was plural I've went through a lot of money trying to do to get rich quick stuff and even though I had a winning system my over leveraging undermined it and it caused me to get out of trades sooner than I should've or hold on the losing trades longer than I should have and what would have been a minor loss became a huge loss okay and that's what it's all about you know you got to keep your risk low keep your over leveraging at bay don't over leverage your account and you understand by the previous discussion we had about having 25 pips or less with 2% risk that's a six percent return per month compounded over the year that's more than a hundred percent return on your account there's no rush for you to get rich quick okay doctors don't come out of med school right away making a million dollars okay they got to get their practice started they got to grow into that field as well but they're paying an arm and a leg no pun intended for that education to get to be a practitioner of Medicine you are gonna have to put that time in as well and you can't avoid it and you can't make shortcuts with over trading and over leveraging it never works trust me just don't do it now it doesn't require long hours and they lie you guys think you gotta be in front your charts all the time and you see this little picture that was me that was me as a new trader okay I would work 13 hours a day and then I'd spend umpteen hours okay you know throughout the week looking at charts and having very little sleep and then going back out and going to work again so my biggest advice to you if that's what you're thinking is don't don't think that okay here's how I'd like you to do I would like you to do another little study and I want you to bracket out one on your charts mark out 7:00 in the morning New York time to ten o'clock in the morning New York time and I want you to mark out two o'clock in the morning New York time and four o'clock in the morning New York time just those two little windows of time and I want you to look at what takes place on a daily basis and do that for a month I want you to you know determine how much of a move took place and what time those moves began and when they ended each day and I want you understand that those three hours twice a day is all you need and you only need one of those per day okay you only need one of those per week you only need one of those per month to make that six percent if you do do you're leveraging your risk management and your trade selection properly now think about it how does that contrast to what you think right now that you got to be trading every single day every session and you got to make a million pips quickly quickly this is becoming much more reasonable and realistic don't you think okay let's look at a chart and discuss some of the things that are beneficial as a foundation to some of my materials and also give you something to really study on a daily basis when you're looking at your charts it's probably something you it may not have noticed if you're a new trader but this chart actually gives you a whole lot of information just staring at the candlesticks themselves and the way price action moves within each swing the pattern I'm going to show you now is very very important going forward it's going to be referred to a lot in my material and it's actually the framework for a lot of the price action analysis concepts that you're going to learn through all the coursework that I'm presenting here we're going to be talking about swing points okay and swing points are really defined as such we're gonna show you this is one candle and to the left of it will be another candle and to the right of it will be another okay and this is a crude depiction of a swing high okay swing high is delineate by a lower high on the left and a lower high on the right with a higher candle in the middle okay and you probably guessed a swing low is simply a low it has two higher lows surrounding it in other words you have one higher low on the left one higher low on the right okay sometimes when we are in technical circles and we're discussing swing points many times you'll hear a swing low represented by having something like this okay and they in other circles the teach or share ideas they'll say that this is a swing low because it's qualified by having two higher lows on the right and two higher lows on the left to me as long as we have the three bar pattern here that's sufficient enough for me and if you are relying on the marketplace to give you that much time the markets are already really moved away from an ideal location down here for entry okay so what I'm teaching you is I'm trying to train your eye to look at where swing points occur and how they form and how you can get very very close to the reaction points where price is gonna be moving aggressively up or down away from those particular price points so now what you want to do is you want to think I right now have an Australian USD eight for or in other words a chart comprised of each candle delineating four hours worth of time okay so in other words every vertical line or a vertical candle represents four hours worth of time okay so this is the highest high in that four-hour period and this is the lowest low in that four-hour period okay now what I want you to do is when you go through your charts okay this could be in any time frame but I used a four hours simply because I like the four hour it can be used for day trading and khabees for swing trading short term trading even position trading if you know you're looking for in terms of higher level support resistance but for now what we're gonna look at is we run discuss the importance very briefly and we're going to build on this obviously as we go along but I want you to notice that you have a lower high to the left of this candle and we have a lower high to the right of this candle okay so that makes it this three bar pattern in other words this candle this candle and this candle a swing high okay so we're gonna take that swing high and we're going to look at two price points as it relates to this okay see that what I've deleted here is the range from the highest high and the lowest low that make up that entire three bar pattern okay you see that this is the lower of the three candles if this candle in the middle was lower than this candle on the right of the three bar pattern then I would have that level noted there but the lowest in the lower it's in terms of the total range between all three candles combined where it's the highest high whereas the lowest low that's what we're looking for okay you want to have this in your mind as you're looking at your charts now you're gonna see very quickly in doing this you could have a whole lot of lines on your chart but the concept is what we're trying to arrive at so that way when you can clearly see the swing points on your chart you won't need to have this many lines on your chart okay but this is one particular range that is influential okay to our price action analysis concepts okay every price point between the high and low okay on each candle being the low the high the open and close of each candle is also a sensitive price point okay but for now we're just gonna identify the total range that makes up that swing high the same thing occurs when we look at swing lows okay we have a swing low here we have a low with a lower low and a higher low okay you see that here's that three bar pattern okay now we're going to do is we're going to delineate that and then we're gonna use the high cuz it's this candle let's change the color of that just to differentiate okay we're using the high candle here of the three bar pattern so this is the highest of the range and this candles low is the lowest okay now watch what happens now we delineate that range okay so we have a swing low and a swing high okay so now what we're doing this is where we're breaking the market down and we're looking for potential reaction points okay this swing low you can see clearly later in time price came up to that same price level and look what happened did it stay there very long absolutely not and the market repelled and went lower okay so now let's go back and go through some more examples we're going to ferret out another swing low okay and what I've done this is I've noted this swing low so you have a candle with a low with a higher low on the left and a higher candle on the right okay so off all three candles okay one has the low with a higher low on either side and it's only taking three candles to do that okay now you're probably asking why am i skipping over this little one here because this would be a swing low yes well it's because we're looking at this is a sundae okay so you kind of like take that into into your equation when you have these little tiny sundaes I guess the general rule of thumb would be if we have a big range sundae then I would use it but if it's a real small little candle usually it's typical of a sundae then I won't factor that in but for now we're just gonna look for the most obvious swing points okay so again using the premise that we've already established the candle highs and candles low we have a swing low here we've mapped out the highest point in the lowest point and you just draw that out a little bit no obviously you want to have these levels in mind okay as you look at your chart okay and again going back to the premise that if we put every single line that's available using this concept on your chart you would quickly being inundated with so many levels it would be it would be confusing to you okay but you'll see after a period of time you'll adopt an eye for price swings and the ones that are going to be more useful to you will become obviously much more apparent as time goes on okay but right now in the beginning you don't have that understanding or the ability to see what you should be seeing okay this is how you develop the eye for it okay so we have the swing low here move math up the highest pie and the lowest low we have a swing high here okay we have swing low we have another swing low in here okay but look what we've done here we've we've made this price point just like this okay swing low a higher low and higher low on either side of it why would be why would we look at this level in this level when we're pretty much very close to it with this range already you see that okay so when price levels are very close like that I just use the ones that are very clear this is a pretty important swing low versus this one okay so this swing low is occurring inside of the range that's been established by this swing low here it's from the range low to the range high this short term swing low is inside of that range so this to me is going to be subordinate or less influential in terms of future prognostication in terms of price action this range is going to be much more significant later on okay so know which we're gonna apply strength okay factors to which price points we use for swing highs and swing lows okay so now we have a swing high okay and we're going to use our different color just let me delineate that as well okay and see what we have here this big break down here the lowest low in the three bar pattern okay for the swing high is this candle here okay look at all the price trading that takes place around that price point okay look at the opening and closing of these candles look at the highs with the bodies of the candles in here okay you have some reaction in here as well later on and that's all working within this dealing range between this low and this high okay and again what we're mapping out is the swing highs extreme points okay and you can see look at the body of the candle here see we wikked through the previous swing high here notice we didn't do a whole lot of treating there the bodies of the candles were both below that okay see these these are the building blocks if you will to understanding very very advanced price action concepts that you're gonna learn later on but for now what we're gonna be doing this is getting you used to seeing the price swings and swing highs and swing lows and mapping them out so that way we can see future price sensitivity to those same particular levels and by understanding what you're doing by applying these concepts you'll start to see and anticipate really which is what's the which is the powerful concept that you're supposed to be gleaning from this learning to anticipate price rejections once it trades these levels because if price was able to repel away from that particular level at a earlier time chances are that probably we'll see that same effect happen in a later time okay so we have a swing high here okay and I'm going to show you the lows are pretty much equal right in here okay this low and this low of the three bar pattern that makes the swing high up we have price sensitivity right there beautifully done beautifully okay comes back up again okay and it trades through this level and trades right back up into what level this sensitive level okay then it creates another swing high okay you see that so now we're gonna have lowest low you can just over here a little bit so no confusion you too much so we have this swing high in here okay and the lowest low and just for completeness sake again I didn't want to show that but it is what it is around to reveal it to get to the chart where I need it okay so here is the the high of that swing high without the extreme upper range of the higher here and the low okay so we have this candle this candle and this candle making this swing high the lowest price point is right here okay so inside these two price points there should be future sensitivity okay again King off of the open high loads and clothes of the three bars or three candles that make up the swing high and swing low okay we have a swing low in here and what we'll do is as well mark that out and the highest high inside the swing low between this candle this candle in this candle the highest high is here and the lowest low is here okay so we'll be looking for future sensitivity inside of that range okay and you can see there was a very nice swing low formed here violated it just a little bit okay and then what would it be form another swing low notice we're not going to need to draw another line because this levels already represented with this level back here okay in this high candle okay is already dealing with this range here so see how this price swing is subordinate okay inside of this swing low so there's no necessity for us to fine-tune any levels in here because it's already been pre determined with the range from this swinging low okay now we have this swing high okay see that we have a high a higher high and a lower high so we have a high with two lower candles to either side of it okay so making that three bar swing high pattern we like to look for so when you see that what we can do again is you take your your levels here and you draw that and what I'm doing on students gathered in this candle here because I really want to show the very clean symmetry that's presented with this sample set in terms of price action and looking at the lowest low it's this candle here because this is the lowest candle between all three candles of the sweet and high pattern okay and let's just go forward a little bit we have a new swing low down here okay so we have this low here and the highest high of the swing load pattern is right here so it's the three bar pattern low okay the highest price point in three candles is this price point and the lowest low is here okay and we're going to be looking for set price sensitivity going forward okay and now we have a unique opportunity okay to show you where price creates kind of like a muddy little swing point okay see how these price points are basically the same okay if you look very carefully you have price essentially trading almost at the same price point okay you see that if you look real real close this candle is slightly higher than this one and this one okay and again we have that seem like Sunday phenomena I guess with these small little candles so when I have something like this what I do is I look at the overall consolidation okay I see the bodies and the wicks okay see how the wick is here the body of the candle here the body the candle here the low here okay when I see that I will assume that price is still gonna respect if you will this swing low that we have the higher range here and also now this is a little small little trading range so this to me I would look for the bullish move up okay in other words the the candle that goes up I'll have more weight on that and we'll talk a lot more in that principle later on but in this example I would just simply refer to the bullish candle up in the cards notice this is a white candle there of the bullish candles as it represents in this example and black candles are down I would spend more emphasis looking at the low here but again going back to our principle debt we already have a level that's already daleney next to that so there's no essential need for us to draw a new level okay so we've already done delineate a specific price point for future sensitivity price comes up that same level here creates a swing high we have an the lowest low is here which has already been established with this level here so there's no necessity to draw new line we have a swing low here with the highest of the three pattern here very close to this level again no necessity to draw another level and look at the price action that's traded right off of that level see that see that right there wonderful beautiful representation of very classic price action I'm gonna give you some more data that just to show you how price had respected the previous levels and we had transpired from that price at price point okay you see that all right so now when you look at your charts you're gonna be spending a lot of time searching for swing points swing highs and swing lows okay looking for levels inside of the ranges that create those swing highs and swing lows and you're going to eventually spend a lot of time studying the sensitivity of future price action at the specific open/close high and low of each of the three bar pattern in other words we have these three candles here that make up the swing low here okay we have an opening at this price point and the closes down here on this candle we have an opening on this candle and a closed here we have an opening here on this candle and a closed here okay remember I this told you the opening the highs the lows and close of all three of those candles are sensitive okay they're very very key price points look at the closing price on this candle here the highest price point of all three closes okay this go out in time look at what happens boom look at the sensitivity right there even though we had already leveled out this swing price point right here fry stab through it stab through it stab through it stab through it look at the bodies of the candles see how that was very very well staved off in terms of not being able to go lower yes we whipped through within air price action but look what the bulk of the trading was above that level okay and just simply refer back to this closing price and you can see that is very very close to what was being referred to also look at the high of the very lowest candle see little high look at that go out in time boom okay look at the high of this candle okay boom okay even this candle here came right back down to what this price point okay so when you're sitting in front of computer and looking at charts don't blindly just stare at them expecting a neon sign to tell you hey look you know here's something to do or the next trade study how price has traded in the past and it'll give you a whole lot of information and it'll give you a lot of foundation that you need to be a price action trader and essentially you know putting you ahead of the pack if you will and you'll be able to warm up a lot quicker to do more advanced concepts that we'll share as we go along now above all it's important to keep a balance in this don't become overly compulsive feeling you have to be in the market place in charts in forums in my videos okay your spouse wants to see you okay and you should be wanting to see your spouse and your children as well and your friends want to see you too get out there and make sure you have a life learning this stuff is fun it's it's it's amazing the rewards you get with it but if you're not engaging the other parts of your life you will be coming you know it's an unhealthy relationship with the marketplace so don't try to think because you gotta spend a million hours of study in the charts and that in the beginning that you're not going to get yourself a shortcut by doing that yes it's important he spends time okay and then my advice is to spent at least 30 minutes a day looking your charts doing the things that we talk about over time will give you skill set principles and and drills and exercises to do they'll help you acquire certain you know price action understanding but it's not important that you spend five or six hours a day I did all that stuff okay and yes I some things but in the beginning it was a lot of wasted time because it just simply didn't know what I was looking for now I know what I'm looking for I know now what I should have been looking for then my learning curve would have been greatly in shortened and that's my goal here with you guys so don't try to skip to the front online because you're not going to be the one that does it and if you've been trading for a while and you've been trying different things and it hasn't been working out for you I'm gonna give you the real answer to it it's not the system and it's not going from one system to the next this is not the the hand gets cold go to the next best thing you're gonna quickly learn that you are the biggest enemy you are the one that causes all these problems and I know it sounds hard to swallow but you're gonna have to admit it no one else pulls the execution trigger but you no one else can do that but you so you're in charge of all these decisions when you understand that you're the one in the captain's chair you're the you're the one at the helm if you will this sink the ship either sinks or or sails smoothly based on your decision-making don't think that you got to go in here with a perfect system you just need something that's going to consistently carve out expected return and then you maximize that edge or that return to get the outcome that you're looking for which is consistent profitable pit harvesting that results in you being able to eventually move into a self-sufficient lifestyle where all your living living expenses are acquired through your trading and your decisions making in the marketplace alright so now what can we expect to learn going forward well it's my intention obviously to share with you what I've learned over the last 20 plus years now there's gonna be a lot of mix of not just simply foreign exchange but there's going to be a lot of commodity information that I interweave with this because there's a lot of price action concepts that's complementary to the foreign exchange markets I'm going to teach you how you can manage risk and trades and how you can target consistency I'm going to teach you specifically how to determine which to to trade any pair I'm going to also spend time with exercises and drills and skill sets to help you time low risk and high reward entry points you're going to learn how to project in advance high odds profit objectives where to make your profits and how to take the profits I'm going to show you how well in advance when and where trades will form a lot of questions I get a lot of email is they'll ask you know I want to know when to get in when you get out well unless you understand how the trades are setting up in and out isn't going to help you I'm gonna teach you specifically how to track Smart Money traders like the banks and your own how to follow them now also I'm gonna give you a lot of tips on how to build your Forex business that are completely unique to me and my material so I want you to understand that this is my sincere hope and it's my goal for you to be profitable to be successful and I want your success story I covet that I want you to be able to be successful so that way I know you'll be able to move forward in life using this information to bless other people when you do I'm not saying that you won't okay I'm telling you that you used to put the time into this you will find success the amount of success is going to be obviously independent upon each individual trader and their development but when you do please share your story with me that's all I'm asking for a simple thank you and what you've done for someone else for your family for a complete perfect stranger what did you do to bless them you may not be a person of faith may not believe in a god but isn't it just nice to know that you did something very very nice for someone else and not expect anything in return I can't tell you the wonderful feeling that gives me doing things like this and I hope that you are passionate enough to return the currency that I am exchanging I'm giving you my life work just for a story and I want you to share that with me and you can always reach me at inner circle trader at gmail.com or ICT at the inner circle trader com and until I hear from you in the future or when we talk again in the next session I wish you good luck and good trading [Music]