Lecture Notes

Introduction

• Opening remarks with audio adjustments.
• Introduction of the speaker, self-proclaimed the "Ghost with the most".
• Interactive session with son Caleb present, who will join via Zoom due to tardiness.
• Speaker's birthday acknowledgment, aged 52.

Turtle Soup Trading Strategy

• Turtle Soup is a reversal pattern inspired by the "Turtle Traders" led by Richard Dennis.
• Original Turtle strategy: trend-following with 20-day high/low breakouts.
• Turtle Soup concept is the opposite: capitalize on failed breakouts.
• Recommended reading: "Street Smarts" by Linda Raschke and Larry Connors.
• Focus on stop hunts and price action interpretation.

Session Structure

• Trading methodology discussion includes personal anecdotes and mentoring Caleb.
• Importance of journaling and note-taking.
• Upcoming live streams covering London sessions.

Trading Timeframes and Sessions

• Discusses different trading sessions: New York, London, Asian.
• Analysis of trading during the Asian session.
• Emphasis on time and price alignment for effective trading.

New Day Opening Gap

• Explanation of the New Day Opening Gap concept.
• Example provided: opening activity and setting initial buy/sell liquidity.
• Importance of annotating charts and capturing price action screenshots.

Trading Strategy Focus

• Encouragement to trade using fair value gaps.
• Importance of clean, uncluttered charts.
• Use of measured moves for target setting.

Risk Management and Trade Execution

• Explanation of stop-loss placement at new day opening gaps.
• Strategy adjustments based on market conditions and visual cues.
• Emphasis on time as a critical factor in trading models.

Broader Market Insights

• Discussion of market conditions and potential geopolitical impacts.
• Consideration of external factors like news and global events.
• Comparison of different indices (NASDAQ, S&P, Dow) and their divergences.

Conclusion

• Summarizes key takeaways from the lecture.
• Reinforces the importance of sticking to a structured trading plan and methodology.