All right, good morning traders and welcome to the Bookmap Live Trading Webinar today with Scott Pulsini, Futures Trader. We do it every Thursday at 10 a.m. Scott's been trading for quite a while, over 20 years and he's got a really interesting backstory that he's traded quite a bit of volume, incredible amount of volume back in the years 2002 to 2005. So he does offer mentorship and educational services, trading room, educational course, et cetera. I'll put this into the chat if you wanna reach out to Scott, you've got his email and you've got his website and Twitter handle as well. And so let's jump right in here and go through some disclosures and then hand it right over to Scott. So it's important to listen to this, the disclosures, all bookmap educational materials and information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Live trading is in simulation, demo, paper trading mode and strictly for educational purposes. Live trading executed in simulation cannot accurately represent realistic trading performance. The risk disclosure, trading futures, equities and digital currencies involves substantial risk of loss and it's not suitable for all investors and investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle, only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. With that said, let's turn it over to Scott and Scott, if you can share your screen and we'll get going here. You got my screen? Yeah, hold on. All right, we're all set. All right, so as far as volume is going, besides 50 point swipes and ES, 150 point swipes and NASDAQ, but there hasn't been a ton of volume. There was a little bit of buy ice here. It was close to threshold. I didn't draw it and the market just ripped away 50 points from there and now we're coming back. Very volatile environment. Especially after yesterday's pummeling. It's here in the bigger picture stuff. This is an important zone that we're coming into right now. So this thing just burned right through a lot of these important zones yesterday where I even tried to buy a NASDAQ. I'll show you that at one point, but we had talking about this in my room for the last few days and this started the other day. Two days ago we had, you see that buying tail two that launched this out of here out of this balance and that was a fail break out where we gap lower yesterday. We're right through the high volume note of this and then we had stuff drawn. This was the high volume note of this balance area here. High volume note is just where the most trade occurs in a balance area. Balance areas are just traders, plays and bets, right? But you can see this is where we gapped up this day. So this is an important area. We're right through that, like hot knife through butter. And this was an important area. You can see this was buying, we gapped up this day. This is where we opened buying tail, buying tail was the bottom of this balance. We tried to rip right through that or we tried to hold here. You can see that was like basically the only yellow, partial yellow bar yesterday of this entire move. Tried all that or ripped right through that and then into the close here and then right now we basically just held this. Again, for now, this is basically the high volume note of this. Kind of went a little bit below there, but you can just see even by this candlestick, look how treacherous this is. I mean, I forgot what they call this and candlestick part of terms, but I don't play off that. I just know this is like a selling tail and a buying tail and it's undecided. So it looks to me like we're starting to build balance here, kind of where we had balance before. So it looks like a chop fest. This zone's gonna be important. One, the current stuff with this tail. You know, if we can get above this tail, get above this zone, then I think we're coming back to where this directional conviction started after this attempted up bar yesterday. That's this bluish zone, whatever color that is. But if this fails, and I think we're coming back down to here and then we'll see what happens here. This is the like last stand for this guy as far as I'm concerned. I mean, this is directional conviction that led to this entire up move, you know, 200 and almost 300 points, 250 points. So this is pretty much done anyway. If we get through this high vibe node, for I don't think this is gonna hold it. So we'll see. But right now we're kind of just bouncing back and forth just waiting for some volume signals to give us a clearer view of things. Mark a profile. Second year, got my floaty. What did you do? What did we do that day to get away? Get rid of this floaty. I forgot. Bruce. Yeah, I recall now. You need to go and find the instrument that you were on there in the tab. And then kind of hover over the chart and that should get rid of it. Over what? So just click on the little floaty thing up there. The tooltip tool, okay? And so deselect it, basically. The one to, yeah, that one, yeah. So and do that for basically all instruments. Yeah, I didn't, let's see. I was looking on a couple of errors for us. I mean, it doesn't say what instrument it is there. It says stops were two. There you got it. You found it. All right, so Goldson. Yeah, and we got new lugs, Ludwig levels. We'll come back here in a second. I'm not that excited about trading gold because it's been an absolute clown show, but since the war started, that everything seems like it's a clown show now. So, all right, so this is ES. These are just prior. These market profile composites are from literally a year and a half ago, but you can see this, this value area was pretty close to the same, you know, these pinkish, reddish, whatever. This is just a single day. I'm not putting too much weight into these, but you can see the market is still respecting them. So, we're basically just bouncing around in here. And this was yesterday's move, just right through important areas, right? We went right through the top of this prior market profile composite, or right through this one, or right through the bottom and down into this. So, you know, any moves. So, let's make this one day here so you can see it. So, if we happen to get some kind of rally, and you want to be looking here, and this is... Thank you, stop, stop by NQ191 contracts. It's pretty much in the top of the zone. I wouldn't imagine we'd hold that if we get out of here, then this might come all the way back up to here, and that's where I'll be looking to sell as well. Let's see what's going on in Hasdick. It's by far the highest volume of the day in here. You can see the stop run. So, that's 162, but you can see 188 on the chart. It looks like they just released an update on the on chart, so you guys can see it in the on chart room. And Discord, BookMap Discord on chart room. I haven't downloaded the new version yet, so, because it just came out right before I got on. See if that's correct. I mean, ATR, that's about 49. I thought it was more like 70. So, I have a shoe range right now in Hasdick, it's close to 50. So, we'll go over that, how I use that. So, there's your zone. Let's take a quick look at this. Important zone as well. So, yesterday with the same exact look as ES, fail, break out of that. Right through that high volume node, or right through this high volume node, tried, and this is where the zone I tried to get long yesterday. I had a little bit of profit, and then it just turned around and got smoked. So, and so did I, and then we came down here, and you can see we held pretty much this zone, but there's pretty much high volume nodes. So, I don't draw zones on high volume nodes just because I'll have too many of them, but this zone was directional conviction down, and then we gapped up this day to here. So, that's why this zone was here. But you can see we did hold a high volume node right here with a buying tail. So, this is looking like it may find its way back up to this last time that it ripped down when it tried to rally yesterday with the only up bar of the day. Not even an up bar, but the point is this is important, right? So, this is a little bit of balance here. This is just a regular trading hours chart too, so I can see gaps, but you can see there's a little balance in the yesterday close, and then yesterday, now we just tried to break down, that's a failed breakdown, we're through the high volume node, and you have a buying tail. So, now we have a stop run two that we can play off of. If that stop run holds, I will take the long and watch very closely for a move back into this zone. So, hopefully that didn't already happen because this market is ripping around. That's crazy to see the NASDAQ stronger than the S&P. A little bit stronger, at least in the bounce there. Yeah, for right now anyway, nothing was very strong yesterday. That was a very outside day, I was telling my training room if you're struggling in the daylight today. So, the one thing you gotta notice too, I'll show you here at this in a second, I wanna make sure, first of all, you see we're bouncing around this yellow lug. So, no matter what I'm doing here, I'm waiting for an ATR retest, and this may have already happened, so the bottom of the zone was, the top of the zone was 4250, we got up to 7450, so that's not an ATR yet, right? So, ATR right now is a smooth 51.58, you can see it right there, it's moving around. So, I need to see 52 points out of here, retest, then I'll take the trade, right? So, this is obviously, again, talk about it every single week, I risk based on the volatility, right? So, for me, the way I trade these areas, I'll either, most of the time I'm looking for a full ATR or retest, a fail, then I get in, you know. Go by size for by GC, 150 contracts. About 90% of an ATR I'll get in and then I'll place my stop, 90% of an ATR on the other side of the zone. Well, day like today, that means I'm risking like 150 points. Well, people may say, well, that's, you know, you can't risk 150 points. Well, the volatility is dictating that you risk 150 points, because if you, if this does, this, this, this, and I get in here and I just put my stop right here because I only wanna risk 20 points or 25 points, you're gonna get stopped out 99.9% of the time, just because the market doesn't care, these allows will rip this back and forth in areas that doesn't matter as far as volume, right? So that's why you have to get away from the volume area to protect yourself from just, you know, nonsensical whipsaws that the 90% of the market is now goes, 85 to 90%. So you wanna stay away from the volume areas. So, you know, if I'm risking 150 points, that means this market could easily go 300 points. I mean, if that's the current volatility is 50 points, you can easily see two 300 point moves right now. So we're not at that point yet, but I will, you know, if we get an ATR above there and retest, then I'll go along with setup. Other than that, I'm just gonna wait. I would be more decisive the way I trade these aggressively. So you say, if we got that stop run up here, you know, above the yellow log, I use this, these are Ludwig levels, incredibly powerful, especially for day trading. If I get a setup above the yellow log, she calls it the directional log, then I take, then I'll take setups aggressively, meaning I just jump in, as soon as it moves 90% out of the zone, ATR out of the zone, I'm in. But you can see here, this is just bouncing around here. So I'm gonna wait for ATR retest. I'm not gonna put myself in a position where I'm trying to jump in a trade until it can prove itself. So liquidity-wise, there's not a lot. And this is kind of strange for Nasdaq. You usually see just bands and bands of liquidity. You see one here, this will get filled, trust me. But you usually see like bands and then it'll go up and fill everybody with all the big money so they can get their fills and then it'll turn around a lot of times. But anyway, this is the only liquidity here. And that basically would have to get filled. That would be the ATR. And then we'd see what happens after that. So, same with the downside here. So I will go short, but I need to see a full ATR. So 50 points below, retest fail, and then I'll go short. And down here was a little bit of ice. It was kind of broken up. You can see, so I drew the zone. I don't usually piecemeal in unless it's close to threshold, but you had 130 here, the spike, you had another 82 here, so that's over 200. And then you add some more here. That actually popped a little bit below zone. So I'm probably not gonna play this zone. We'll see if it retest. So the rule of thumb is you always wanna default to the most recent setup, right? So we're playing off of the stop setup. I don't, most times I won't play. So say if it comes down here, I won't play that, even though sometimes you do get some nice reactions here, unless it led to directional conviction. Well, this zone led to directional conviction. So if this does come down here, I will take a shot and play it. Because I also know that's an important area, right? What area did we just talk about? The I-Vime node of this balance. So if this happens to come back to that zone, that's this, and that's that. I would take that trade as a retest fail type of trade where if it bounces off there, I will go long. Again, that's, you know, we may not even get back down there, but I'm just, you want it. The only time you really wanna play prior zones after something new happens is if it led to directional conviction, led to a strong move out of there. And this one obviously did. So, you know, that was again, 160 points out of there, 170 points out of there. So just chopping around right now.  Let's go on here, see what's going on. See the stop run, that's a good size, 330. And my threshold and gold is 150. So anything over 150 stops or icebergs is worth noting and drawing the zone. See where this started in there. That's your stop run, actually, that's all right. So remember, you wanna make sure you incorporate all the prices that happen in this spike down here. So obviously this spiked up to here and that was part of that. So now I have to adjust my zone. So I think that covers it all. Now we can play off this. Now we gotta get that step one, right? Something else if I were off in here too. So these are not threshold, right? So you guys gotta be careful in not playing every spike on this indicator. Make sure it gets to at least 150, if not more, right? Those are market moving events, 175, 40. Those are not market moving events. I don't pay attention to that, right? Just like most of the, you know, most of the trade is randomness. It's random algos. You don't pay attention to every move in the market, right? Just like I don't pay attention to every spike in the indicator. So I'll come back to this in a second. Soybeans, I'm very interested in this. They had some number today, the soybean export sales. Was that $730 US net soybean export sales and wheat. And there's been some very good activity in here. And you can see this is holding. So this was right when I opened 268 cell ice here, ripped through that by ice, retested this zone. Basically, it didn't get an ATR even below the zone and now we're off to the races. So and now it looks, we didn't get an ATR retest, but the reason I didn't get long here yet because we're right at the red lug. So I don't buy into the red lug because that's what important resistance it is. I wait for new lugs to be drawn and then I'll go along. So you can see we're right here right now, right? So I do not buy, even if this set up occurred, which it did, I'm not getting long here when I know seven points away, seven cents away the red lug. So what I'm gonna do is I'm gonna wait, this looks like it's gonna rip, it'll make new lugs and then on a pullback to that current setup I just showed you, I will get long or if something new comes in, then I'll be able to get long but I'm not buying into the red lug. And here so you guys can see when new lugs are built I'm only, let's see, right? So this is a great example, this happens on stop. So when you build new lugs, this is what I'm waiting for right now, this to happen where we built new lugs, right? You wanna see, this is directionally L we talked about, you wanna see directionally L and or prior red hold and you can see, this is exactly where it held and moved higher. So now that's the kind of scenario I'm looking for here to go long. I'll show you the other reason I wanna be long, I wanna see new lugs built. So then yellow would be right around here, red will be way up here, blue here and I wanna see, bounce around and retest that zone that big ice zone I just showed you and then I'll go long but I need to wait for that to happen.  So I'm a little bit above here, new lugs should be drawn. And then also, this is bullish as far as bigger picture, you should always know your bigger pictures. But it was anyway, this zone's important too, we'll go over that but this was, you can see here, this is where this gap down, huge directional conviction that led to this huge down move, right? Basically was this starting on this gap but this is actually the bar that started it and that's where we're at right now. So I could see this struggling in here right now, if this gets above here then we're coming back to these areas here, right? So again, this was directional conviction that day, we closed here and then we gap down here so that's why I have a zone here and that was also the high volume and out of this little balance. So this zone is very important too. So this just rips right through here, that would be great for my thesis. I think obviously long, I mean it doesn't take a rocket scientist to figure that out with this bar but then that would probably draw new lugs and we come back down into here into this zone and then that'd be a good area to buy and then I'm looking at these areas. And I think we can hit these areas today based on the volume that's coming through here. And obviously there was that number. So we'll keep an eye on that but again I need to see new lugs. I could short this as well if this area fails but the problem is if we get an ATR above this zone that disqualifies it as a short, right? So right now ATR in here is 3.67. So we'll say three and three quarter cents. You see the bottom top of this zone was 86.75. We've gotten six points above there that disqualifies this from a short setup, right? So I will not meaning if this did this and then broke through this, I won't take shorts based on this setup because it disqualified itself by getting an ATR above here, right? The market should not get an ATR above here if this is a truly bearish situation. So that's just, I will take a long off of that if we get a new lug, get new lugs but I will not take it short off this unless something else comes in and then I'll, then I'll reassess. So we're in weight, weight mode in that market. So threshold for beans is 150. I like to see a little more. But if you see over 200, that's very good but you can draw zones at 150 for soybeans. When I tell my room every day, this is one of the markets, when these markets, these equity markets suck, most of you guys are just staring at the ES which is just not smart, right? You can't pigeonhole yourself into one market.  Well, so you never have to trade, you never should think like that but if you feel like you need to be doing something then you need to be watching multiple markets, right? So when this market sucks, then you can watch grains. You can watch the other market that has just been incredible and you get setups in here. They've been, we talk about this every week lately, natural gas, right? I mean, the thing moves 300, 400 ticks at a time. So we talk about this, like I said, this is, I mean, look at this chart. It looks like a Christmas tree, right? When it looks like a Christmas tree that means it's algo, nothing but algos. This is the most algodominant market out there. I think crude would be a second, gold probably third but when you see algos dominating, algos worst enemy is the big money. So when big money comes in here, they react, right? So you can see here yesterday, show you a chart I did yesterday in here and actually I got out right at the close and in my trade room, I'm like, you know what? Cause it was such a rough day yesterday. It's such a weird day in equities. I was just mentally beat speaking of which natural gas numbers coming out here in five minutes. I was short this and I got out and the thing just, I mean, look, I got out at the yellow lug and this was overnight. This is a huge, huge move, you know? This is what, 300 points? Yeah, 300 ticks, I mean 300 ticks just overnight. I mean, this thing routinely moves. This was the, this is the second short I put out. I don't post my stuff unless it's over a thousand for the room anyway. I'd tuck in a thousand P and L but this was the original trade yesterday morning and again, guys, this is trader's sink. If you're not using something like this to keep track of your trades, you're not gonna make it as a trader. You gotta do this work, right? You gotta keep track of your trades and then I'm getting much better at it cause I'm holding myself accountable to my trade room where I'm posting all my trades in there. Again, this is what this looks like. So I posted this yesterday actually in the trade room, right? So, you know in here and then you go to natural gas. This is the trade I was just showing, right? So you can, I show exactly what I saw 518 broken ice, perfect example, right? Pretty sad to have to go to this to show you set up since nothing's going on but, so this was monster buy ice, see all the algos, algos don't like big money. We moved away, this was a full ATR at the time. We retested, we failed, this is where I got short and we got out of one at, I think it was the prior market profile, composite, we'll look at that in a second and then I got out of the second one, the yellow lug and messed around and then later in the day more buy ice came in, turned into broken ice again, did that and that was a second trade. You just saw that I made the $790 on a one lot and I got out at the close. If I would have held it, I would have made like three grand on it. So, yeah, so this is what, so I put the way I do this for my room is I show the set up, right? Then I show everything that I look at what it looked like at the present time, right? So this is what the lugs look like, right? And then I show what the relative mine look like because that's important to know. And then you start to see tendencies, like, wow, that trade work, I saw elevated, this wasn't elevated, this is actually no relative volume, that could be assigned to where the market's not gonna break out without big players. You'll find things like you'll start to see stuff like you can see this thing stopped right at the top of this composite. And then you've got that broken ice retested to fail and then I got out of some there and then I put post what I did where I got out. So I got out of some, this was my final exit at the yellow log, it was like right around here, but my first exit was at this market profile. It came down to here, that was, I got out of it right there. So I got one there and I got out of the other one at the yellow log, if I remember correctly, but you can see here and then I post my final where I got out. So you guys should be doing this for it and then I put my setups, what it was, everything I saw, so tried to pull out, I don't wanna get into that right now, but broken ice, low relative volume and you keep track of everything that you saw during that trade and then this keeps track of all of your, all of these setups so that you can see the percentages of when these happen, how well they did or if they didn't do well, right? And then you got the prices and then you got the P&L. So again, this is Trader Sync, there's discounts to this thing on my website. You guys gotta be using something like that. There's a bunch of different ones out there but this is the best one I've seen by far. So that's that. Not sure where I can remember why I got on that tangent but that was good for you guys to see. Oh, cause I was telling you guys to watch other markets. So keep an eye on natural gas. There's no reason to torture yourself in ES and NQ when nothing's going on, kinda like right now. So this is gold, let me just make sure and see if we can get my ATR out of there because here's a retest of that zone right now, the bigger picture stuff. So ATR right now is 28, you can see right there, just move the decimal point, right here. So it's 28, so did we get 28 ticks above this zone? So it was 29, just using the last two digits, 29, we got up to 48, so that was not a full ATR, right? So I don't even know if I'd be looking, I may be in this, should have been in this trade aggressively. Most likely it was ATR retest and we did not get the ATR yet. So I don't know what setup this is. That's how I determine the setup, right? I have six distinct setups that I trade off of. This could be either a stop and hold meaning stop, a stop run, which isn't real buying. I mean it's real buying, but it's not like initiated buying, it's just guys puking, right? So a stop and hold is when you get the guys puking and then the big money comes in behind it and continues pushing it.  It just means it's a puke and then it fails, right? So we don't know what that is until it gets an ATR out of here. That's how I determine what the setup is. So let's look at the bigger picture. Shot in the end, I've lost my chart. Any questions Bruce, while I'm trying to find this puppy? Yeah, so. Before you start, let me just show you where we're at here. So first of all, that's a selling tail. That's not bullish, right? And that's a stop run. Where did the stop run occur? Right in the middle, this is a balance area. This is two-sided trade. Top, bottom, top, bottom. These are traders placing bets. When they were wrong, how did the buyers do when this moved out of here? Well, they puked them up, right? Markets are in one or two states. They're either balancing or they're directional conviction. We talk about, guys, I'm gonna keep saying this stuff because one, there's always new people on here, but just to get it in your head, they're either balancing traders placing bet or directional conviction, right? Best place is to take areas like, again, I don't draw my zones for high-volume nodes because you can just eyeball it, right? It's just basically the middle of a balance area. So when you get straight B-line moves into an area, those are really, really, really good areas to take trades because all the energy, all the buying was done to get to this area. And then you got guys that are just staring at charts like this, like, hey, this is a good area to sell. You can see, there's your selling tail. So I am very excited to short this gold setup now. Let's take a look at our lugs to see if I can enter this aggressively and then I'll get to the westerns. Over to gold. So we just built new lugs, right? So that stop run caused us to build new lugs. So we're just balancing on the yellow lug now. So even though I know bigger picture, this is a good place to short, I'm still gonna wait because if that's how, you know, that's what I do with how I judge it with the Ludwig levels, I'm gonna wait for ATR retest fail that I'll go short, but I really hope it's this trade and not this trade. But if it is this trade, this is an important area, either way, whatever way this breaks, how many times can I pull my chart away and then not remember where I put it? And there you go. Whatever way this ends up going here is gonna be a bigger move. I'm betting it's this, especially now that you're getting that selling tail, right, it's the rejection. It's one of the four important areas of charting. I'm about to put that course out on my website too. So, because people don't understand a lot of that stuff. That don't understand it, but they wanna be. It's through here. Well, now you're gonna have a fail breakdown of this guy. And then this, you can basically make this a balance area, right, top, bottom, top, bottom, top. This is a bigger balance area. So you got, you're breaking out of a bigger balance area. So this is either gonna break out and get through this and that would be a fail breakdown. Or this is gonna hold. So this market is still in a better state, right? So the bigger moves are usually this way. Here we go. Here we go, Nat Gas, baby. What I wanted, you guys are gonna see how awesome those setups work in there, hopefully. See what's going on in this little piglet. Okay, what's the question, Bruce? Yeah, hold on guys. I just had a problem here. So let me show Scott's. So I'm not seeing anything in Aztec here as far as the concentrated volume.  Did we get an ATR below here? MQI size for by MQ, 150 contracts. So you got some waves coming in all in the same area. So we may be able to draw this zone now yet. This is all in here too. So you got 116. This is 132, this is 100. I just don't like piecemealing unless they're right back to back. I don't like piecemealing. I wanna see concentrated volume in a particular area. That is what moves markets. Not like these little piecemeal, 170. I wanna see like 130 and then 150 right after that so that I make 280 and then I would draw that zone. So I think we could draw this zone. So I'm just gonna get, did we get an ATR below here first of all? 79, no, 26. Actually, yeah, we did. All right, doesn't matter now as we're ripping up and we have a new setup. So let's get this out of here. And we can remember. MQI size for cell CO, 150 contracts. Like I said, you always wanna default to the newest setup, right? That's this, that guy started there, continued. And this is more of a piecemeal one, but I think it's acceptable to draw. Get all the prices in that. So I can answer a few questions along the way here, Scott. Corwin, no ATR within Bookmap. Scott is getting the ATR off of five minute candlestick charts. So that's what he's using. And then questions about the lug wig levels. Now you understand why I call them lugs, right? Yeah, yeah. So you can't say lug wig 400 times in a day. So this is a separate indicator from Patricia Lugwig, and she offers it. We don't know what's behind it, what makes up the lug wig levels.  Scott likes them, he loves them. And you'll have to kind of dig deeper for more information on that. This is bigger picture stuff Scott's covering here, but what we're here for is going over the order flow within Bookmap. Right, yeah. So again, if you guys, just go to our website, lugwiglevels.com. There's a three day trial. You can say you saw it in the Bookmap webinar and you'll get a discount. She's got different. And then also for my trade room, she has discounts. So it's obviously proprietary, whatever it is, whatever component she uses. She's been around for like 12 years. These things are super, super powerful, especially with the context of the most important thing that you can possibly use is the Bookmap as I indicate her volume, right? So when you have these, and then you have the volume set ups within these, and then you can also paint a picture of what's going on. Again, these are great for day trading. And then you also know your bigger picture areas that's the only edge you need in these markets, right? So don't make it more complicated than that. But again, just go to our website. She has the three day trial just put in there. You saw her here and you're off to the races. All right, so now we gotta wait to see what happens out of this thing. Again, you saw that. We're just bouncing around the yellow log here. So just an absolute chop fest, right? So guys, this is part of being a trader. You don't have to participate. You don't have to try to make sense of every move because you're not gonna make sense of every move because 90% of the moves are algos messing around, trying to take your money, right? So draw your zones and you wait. You don't have to participate until you see your exact criteria you wanna see. That is part of trading. We liken it to being a sniper, right? It's the weight in the weeds that when you get your shot, you take your shot. That's the same thing. If you're in here spraying bullets everywhere, you're done.   At least it'll go to a good source instead of the algos, right? Point it, that's a joke, obviously. Just don't be spraying bullets. Wait for your setups, right? And that's all we do all day long. That's all I do all day long and all I talk about in my room, right? So you can see we're just bouncing around the zone in gold and sort of waiting for that. Soybeans, and yet, I'm sure there's no new lugs in there. There was a setup in natural gas, I think. Let's see, that was good. That's what we wanna see. 150 is threshold, but I like to see more in here. And you know you're gonna get some kind of reaction off of it. So you can see this is 250. So you see these swipes, I don't know, that was 100. Let's see where this, and the big spike was the 215 here. Let's see how this looks. I'll incorporate all this just because natural gas is very volatile. So we just wanna make sure we get that whole area. This is cell ice, so I like to make the cell ice black. I know what kind of setup it is. Smackdown in the middle of this zone. So what's the next step before first? See where we are in the lugs. Again, lugs are short for lead weight levels that I'm not gonna say 400 times in a day. So you can see, we just got above the yellow, but I could take this aggressively now, right? Because we're above the yellow, it did hold, and now we have a setup. So if this breaks out of that zone, I will take this aggressively, and aggressively for me is 90% of an ATR, right? You can see it's bouncing off baby lugs too. We call these, these are like a minor lead weight levels. These are the major ones. These are the ones I do not mess around with at all, as far as like you saw in soybeans, right? Huge resistance, huge support until they break and they build new ones. These are good for targets, right? But I don't say, hey, I won't go along here into a baby lug, I just do it for the major ones, right? And then these are other ones too. But, so you can see the algos are kicking in here where they usually do, where did it kick in? Well, kicked in a baby lug, but the algos, this is extreme standard deviation of VWAP, so there's VWAP, there's one standard deviation, they call that DVA or daily value area, daily value area, and then here's one and a half standard deviations, here's two, and then that's pretty much two and a half, and then the algos kick in and revert it to the mean, right? So if there's no big volume coming through, they play games. So we're just bouncing around now and you can see where that's at, it's right in the middle of the zone, right? So cell ice is also saying, hey, we're gonna sell at this two standard deviation, we think this is nonsense, right? We think this move is nonsense, so we're fading it. Where did that also happen? Do you see, are you starting to see picture, like you can paint a picture with a thesis, right? You have standard deviation.  Oh, look at that, top of market profile, that's why, composite, meaning a merge of two days is the last two days, somebody's taking a stand right here. So if they're right, this will probably hold and we'll come back down to at least the bottom of this because that's the tendency when markets, you know, they touch the top and come back down to the bottom. Or this is gonna break out and then a lot of times it'll retest the top and then it'll go and then you wanna watch the top of this one, and then that's probably pretty confluent with the red lug. Red lug's a little higher, but not much. So this is an important area where you can trade, right? So we, you know, most guys, most traders, guys and girls are just looking at this stuff. They're like, well, I'm gonna show it right here. Well, that's great, it may work out, right? But you don't really know what's happening here in the mine. We do, right? This is why this is the greatest edge on planet earth for futures trading, right?  That's a lot in this market, okay. Well, now the big one is fading this area too. That's really, really important information. It's the information, right? Prices don't drive the market. Volume drives market. Volume drive drives prices. So this is where you play. So are these, so once again, there's a misconception or there was when this first came out, when I first started talking about this, you had all these competing products is to book map saying, they don't know what these guys are doing. They could be hedging their positions. They could be getting out of lungs, blah, blah, blah, blah, blah. I've never said that just because sell ice comes in, you sell it, right? Yeah, it's good to know if you wanna be short that the big money's making the same thing potentially or they could be getting out of lung or hedging options. It doesn't matter. It's the area that matters. It's the volume event that matters because there's always somebody on the other side of the trade, right? So this area is an investment. Somebody's investing in this area. Whether it's these guys getting short, if they're not, then they're getting out and then you have the buyers that are investing in the area. You get it? So whatever way this breaks, you're gonna get a big move out of here because whoever's wrong is gonna puke them up. That's trading, guys. That's all it is. They don't make it more complicated than that. So we're gonna wait to see what happens out of the zone. If this breaks above here, I will go along aggressively. So now the third step is to check the ATR. Sure, this is a doozy after the number. Yeah, so we got 60 ticks, 59.68 as your five minute ATR. And quickly, ATR, these are the settings, right? This is just default on Thicker Swim. I don't complicate things, guys.  I just use, I don't need to complicate it. I try to keep it a simple spot. The simpler you make your trading, the better you're going to do, right? This works fine. 14 Wilders ATR. You can Google what this is. You can dissect it all you want. You don't need to, right? We talk about this every week too. When you walk in a room and it's dark, do you flip the light switch on or do you take the light bulb out and dissect it and try to figure out why the light went on, right? Think of it in those terms. You don't need to know if the stuff works, it works. Just use it, kind of like the Ludwig levels. I don't need to know. I mean, I don't like to use stuff that I don't really understand, but I don't need to know what our components are nor is she going to tell me, but I don't need to know. I just need to know they work. I need to know these are, I mean, look at this. If you just blindly bought the blue lug here, I don't know, you like a 300 tick move, right? So I don't need to know how this stuff works. I just need to know it works. And I know these works. These work, I know that ATR setting works. So that's what I use. Well, so back to this. Most importantly though is like, you're looking at the level.  Right, because that's what drives the market. Because that's where you're going to get the insight. Just because it hits a level is rather meaningless. Meaningless, yeah. Right, that's what people don't understand. They love all these indicators in their chart and they'll have 55 lines on their chart and then they can't make decisions because they, well, this is the 200-day moving average and the 50-day cross and then I have my MACD and blah, blah, blah, blah, blah, blah. And then you have 45 things on your chart. You're like, wait, what do I do here? So even if you do have the gumption to put on a trade with all your conflicting info, then the minute it goes before you're like, well, here's another setup. It's telling me to get out or another indicator. This is the 300-day moving average. I should get out here. You don't need, guys, you're not gonna make it if you use that stuff. I'm telling you, the more you have on the charts, the worse you're gonna do. Keep it simple, stupid, period. Trading is simple. It's not easy, especially mentally, but it's simple. You can make it simple and you will do much better. So anyway, this is the current ATR of 56.78. This is my high-tech spreadsheet that I developed, 51.1. Someone even told me how to do the ATR 90% on Thinkorswim. I just have never gotten around it. Would whoever did that, if you can post how to do that again, that'd be great. So anyway, 51 ticks is 90%, right? So that means I will get in this trade, 51 ticks from the top of the sum. We got, look at the last two digits. It's 47, right? So 51 ticks is 98. That's where I will get in aggressively. We just went over why it's gonna be aggressively. Why it's gonna be aggressive, I should say. And then we put in 50 ticks above there, 98. I will stop into that trade.  Because, and I know, everyone's like, well, that's ridiculous. You're gonna be risking 100 ticks, over 100 ticks. This is what the volatility dictates. If you get in here and you put your stop here, you're gonna get stopped out 99% of the time. If you put your stop here, because you don't wanna lose money, you're gonna get stopped out 99% of the time.  Put your stop away from the volume event, right? Make the algos, once this gets above here, make the algos have to push it all the way through the volume event. It's gonna save you thousands of stopouts that are unnecessary because you're getting algos. I mean, look at the algos in this market. I was on a mentoring session the other day. It's like, the guy's like, I just can't do it. I can't, I'm getting in and getting out.  He's like, no, that's ridiculous. Well, it's ridiculous trading and putting stops in the middle of nowhere. You're just throwing your money to the algos. That's all you're doing. Again, you guys, I hope you like my awesome analogies, but it's true. So we don't know what that is yet. Obviously, nothing going on in equities. Let's see what happened in this. I don't have my waterboarding up here. There's the waterboarding too. That's tick strike. So this looks like, let's see, that was 30 quarter, 74, 25. So that's what 55 tick, 55 points. That looks like an ATR. Got to move my waterboarding. 60 ticks, great. All right, I'm sorry, it's 60 points in Azdec. And I forgot what it was. Let's see, 32. Down to 77. That's not 60. This is not an ATR. Now this is an ATR, I think. Now I think we just touched an ATR. So 71, yeah, so that's 60. It's amazing too, you would be amazed. There are algos that are literally just trading off the five minute ATR. You'll see it all day long. Look at that, that's almost the exact five minute ATR. Oh, what do you know? So anyway, that's the ATR. Now if we get retest failure, I will short this guy. Too excited?  Obviously, look what's going on here. I mean, first of all, very undecided. Selling tail, buying tail, selling tail.  It would be my call, in my opinion, but my opinion based on my experience of understanding the bigger picture. So right here is not a good place to be trading. Like, you know, in the middle of the zone actually isn't, but if we come back up there, that's gonna be the top of this zone, this blue zone. There's your setup. I'm waiting for a retest. I'll take that short. That's a good risk reward play because if this gets motoring down, you're gonna get a 300 plus point move, would be my guess. This is all part of trading.  You're waiting for, this thing is just a chat fest, right? If you're in here trading right now, you probably have given away a lot of money on this back and forth trade, right? There's really nothing to go off of on market profile composites. Besides, you know, we knifed through all this stuff yesterday, but there's really nothing. This is just a single day. Composites, again, are just two days merged, right? So, I know this is all basic stuff for a lot of you guys, there's new people on here, so this is how I do this, right? So, let's undo this. This is a natural gas. This is the last two days. So, yesterday's trade, this was the day before. 50% of this value area, which is 70% of the day's trade, where it occurred, that overlaps this value area. So, I merge them. The more days that merge, the more powerful the composite is. There you go. There's that zone. You guys should be shocked how powerful these things are, and that's where that cell ice came in right at the top there. So, they're either gonna be right, and that's gonna do this, or they're gonna be wrong, and then we're gonna do that. That's what we're waiting for. Starting to get out of here now. Can't wait for me to get my other comps going here. Any questions, Bruce? Well, doing this. Yeah, no, we're doing pretty well. I don't wanna ask you a certain question. So, in the 155-pound graph. Anyway, you can see more sizes coming in here, and someone wants to sell this, right? There's another 200. So, what I normally do, I would normally delete this, and then play off the new setup, but what I can do now, I've been doing this more and more often lately, right? So, now I'm gonna draw this new zone. I'll still let this fill, but now, I'll trail my stop based on this new setup, right? So, I don't have to risk, you know, before I was gonna risk 50 ticks below this zone, so I'll let this fill, and then I'll just risk 50 ticks below this new setup, right? So, let's draw that. What's the question, Bruce? Yeah, nevermind, it's okay. So, let's make this a different color, and I'm already filled. Gotta be quick in this puppy, I can tell you that. This is for sure a winner, guys, because I only got it on one other account. Got like five of them. Speaking of which, we'll go over that too, that Apex funding. Still doing that as well. There's discounts, I think today's the last day for the 80% stuff. Yeah, yeah, stop, stop by NB. All right. Yeah, stop, stop by NB. Yeah, stop, stop by NB. 312, contract. That's probably the sell-ice puking. Yeah, yeah, stop by NB. This is perfect. 150, contract. Why is it perfect? Because I can keep trailin' my stop now on this long, right? And you can actually add, it's just this movin' so fast right now. By the time I use my 1980 Atari tool, drawing tool, that's probably gonna be 50 ticks away from here. Here we go. All right, so that's the stop run. So now what can we do? Now we can trail the stop based on this noise setup. All right? So the bottom of this zone is 8410. So it's 10, right? See right there, last two digits. Check our ATR, make sure we're at it. Accurate 62, now it's up to 62.85. All righty. Here's my risk calculator. Stuff I know. The 6.56 I round up, 57 ticks. So 57 ticks below here. So 60 ticks puts me at 50, so 53. I will stop out of this trade. That would be right here. I will go just below this last cell ice because I don't wanna stop in the middle of this gray zone or whatever color that is. So I'll stop it right there. You could put it all the way back below this other where I would have been originally. But I'm not gonna risk that much. I'm giving this a chance to rip, if not, then I'll stop out, so that's it. What I said that was, it's 45. I just hear something in there. Let's see, okay, so guys, to get this up, all you gotta do is, like you see right here, like things are firing off, especially multiple markets, I hear it, but I don't hear it. So you wanna have this up too, so you can go back and be like, wait, what was that? Right? So this is the alert page.  I have this up too, right? So the last couple were all the NACAS stuff. There was some crude. Let's check out crude. This market has kicked me in the teeth since the war started, but it won't take a look. They're not drawable zones, which is fine. I have no problem trading that market right now. Hey, what's going on with equities today? Anything? See it, NASDAQ. We were waiting for a retest of that zone, right? There you go. Here's your retest. So failure, I'm in this. 80% or more of the time, these markets will retest the zone because it's a high volume area. It's like a magnet, right? Kind of like liquidity. You can see, look how good this zone was. So this is what I have on my 60 minute. I look at this thing. It's the exact area this is forming a new balance. Five minute balance, but it shows you how, you know, if you can draw your zone, so while they work. All right, so anyway, ATR is up to 60 here. That's sweet, minus the sweet part, so 60. 54 ticks is 90% of that. I didn't even need my calculator for that. Here's my math, my math skills. So 3450 minus 54 is 80, 7950, 8050. So under this trade, that's 90% of an ATR.  I'm gonna put, I'll put it just below. I would be normally right here, but I'm gonna make it make it lower and low. That's probably the smartest thing to do anyway. I'm talking my room about is now that I'm finally, because it just takes so much work for me because I'm doing these webinars and the trade room and having to screenshot trades and so on and so forth. Like in the end of the day, then you gotta go in here. You guys need to be doing this. Don't get me wrong. It's just, you know, and then keep in track of all your trades. So anyway, you know, we've been using the first rear at 80% of an ATR, then we're, first rear at 70, then we're at 80.  But the best way to do this is to get outside of an ATR on the retest fail, right? So, you know, costing myself probably seven points, but it's seven points a lot in this market right now. No, and that's also why I can only trade a one guy, right, because of the risk I have to take here. So we'll see if this fills that's it. And this is pretty substantial. It's 11 points difference actually. So you could go just the normal 80%, 90% of an ATR that puts you in an 80, 50, I went 10 points lower. Just to avoid, it doesn't mean I'm gonna avoid anything. I did this yesterday in ES in my PM webinar and I got filled to the exact tick. Again, as usual, and then I did that. I actually didn't get stopped out, I came back, but it was brutal. I just, you guys know from watching my prior webinars that is one thing that sets me off every time because it happens five times a day and it just drives me absolutely batty as you all know. So anyway, that's that. Let me put this in here. Absolutely nothing in ES so far. Whipsaw City, like I don't trade off these spikes. These are not threshold. This one was close. See what this was here. 614. Now on a day like today, I don't usually go, like that's my bare minimum. I'll go higher for thresholds. Like if you keep seeing 1,000, 1,000, well, you don't wanna use 700 for that day.  I really go below 700. But you can say, hey, there hasn't been one thing here today. I'm gonna draw this zone in ES and trade off of it. We'll draw it. I'm not gonna trade off it, but just to see how the market reacted to it is always good. Bye, nice. But this is also telling you something, right? You're not seeing any big money come in. That means it's gonna be Whipsaw City. That means algos are just taking everyone's money right now. That's all that means, right? No big money playing, algos city. Yeah, that was actually the question and people wanna hear it. So what are your thoughts on algos? What do you think of algos? What do I think of algos? Yeah, I think you guys see my middle finger on screen right now. That's what I think of algos. Guys, this is why I'm doing this, right? This is why I'm educating. Algos knocked me out of the game. I was, I don't know if you know, but I used to be a big trader. Used to make millions of dollars and the algos combined with the low volatility knocked me out of the game. So what do you think of my thoughts around algos, right? So there were a lot of years there that I was like, I actually love the business because I'm like, there's no way you can compete with these algos, right? Everyone likes to play in the algos, which is correct. They're 85% or higher of the market. If you know what to look for and you know how to read the big money in the big money areas and you know where to place your stops, you can beat the algos, right? So that's been my driving force of this education is because I have such animosity towards what happened to me, from being a million dollar trader to going to zero, right? And now I'm on my way back. That should be motivational for everybody out here. First of all, when I became a million dollar trader, I was trading one lots, right? It's not like they threw a thousand at me. I was trading one guys. I went from trading ones to, I could put on 3,000 within two years of trading. So the point is, you can do the same thing, right? So that's why my story resonates with traders because it's not like I'm some high and mighty, credible trader. I mean, I think I'm a good trader, but it's like you're not watching someone where you look at it, like kind of like if you're watching a major league pitcher, right? It's an all star. You're like, well, I can never do that, right? I don't have that aura because I went from millions to zero and now I'm coming back. So the point is, you can say, hey, if he could do it, I could do it. That was my driving force when I first started trading.  I'm like, okay, if these guys could do it, I could do it. And that's what drives me. I'm very competitive, right? So that, my goal was to beat the traders there to prove that I was as smart if not smarter than them or a better trader than them, right? So the point is, if I can go from millions to zero and making my way back, you can do the same thing, right? So that's why my story resonates. Forgot why I went on that tangent. But... Yeah, this is why I tried to avoid it, but like, anyway, there's the answer guys to the question and full disclosure. Yeah, full disclosure. So the point was, this algo is knocking me out of the game. And I'm back in the game and flourishing because of Bookmap and the most powerful thing you can possibly use to trade. I don't know if I've ever said that before is the SI indicator, right? And understanding what the big money is doing. Thankfully, the CME finally made this information available to the retail trader. And like I said before, I think they did that is because there were no retail traders left. It was algo versus algo. So they needed to get some fresh meat in there so they decided to open up the books a little bit and let people see this information. That's why I don't think it's going away. If they went away now, they'd probably have a revolt, right? But it's to help us compete because if we don't see this stuff, how are you gonna compete? And yeah, you can trade off the bar charts but that's still, your areas, yeah, they're important but you still don't know what's going on in the area, right?  Again, I'm a retail trader too, don't be offended but understanding that to combat these algos. That's who you're trading against guys. What do you think is going on in here? You think they're just running it back and forth just for fun? No, they want to take your money. This market is a zero-sum game meaning it's guy against guy, right? Mine is the commission side of it but trader versus trader. So the point is you're going against algos and now you're going against algos, you're going against the brightest mines on the planet. So you better have a plan. You better have structure. You better keep track of your trades. You better control your risk and have a plan. If you don't, you're not going to make it just stop trading right now.  At least it's going to a good cause. Again, that's a joke. All right, so we're waiting for this to come back here. Actually, this is a yes. I'm not going to trade off this zone. I will trade off of this zone. NASDAQ, let me see that was 65, let's see. By the way, hey, well you know that your gas is crushing. Telling you guys, watch this market. All right, so now we got to start keeping an eye on some lugs, see where we're at to get out of something. We got a ways to go. If you don't think this can get to, this might get to the red lug while we're still on the webinar. That's how much this market moves. That's how much this market hates big money, right? Cause the algos are like, screw that. So where are we going to watch now to possibly get out of these? I'll definitely get out of both at the red lug, baby lug, red lug, red in that area. But I will get out of one at the top of this market profile composite, 85.72. So what I'm going to do is I'm going to put that in right now. That's another hundred ticks away, by the way. And also you need to know though, if you trade this market, there's very, very little chance this thing just goes like this right now. I'll probably be tortured for three hours most times, right? Why? Because there's a this. The algos will snap it back. When big money's not playing, they'll do this. You'll think you lost it and then it does this and then it'll go, right? I'd love for it to go right away, but you see it's already coming back. Here, he just came back 50 ticks, 25 ticks. So what did I say, 85.72, 85.72 is the top of that. So let's put that one guy in there. I'll just put it at 70. I don't need to squeeze out two more ticks. You can even go maybe 10 ticks below there if you want, but that's my first one. And then it keeps ripping. Again, this is if I'm off the screen and not watching, we'll get out right before this baby lug, 86.39. So let's say 86.35. And this is more of a feel type thing, but I don't need to see the exact lug because I know how powerful they are. I can run away from them when I say 32. Those are my two exits. Or if something new comes in, I will then trail my stock based on the new setup. And you could go along this as well. Actually, let's do that. Let's add to this trade. Why not? So this is now hugging standard deviation. And most of the time when you're hugging standard deviation, standard deviation, you have large volume coming through. That's the, or else the algos snap it back on you. So let's take a look. Well, there was one bar. So this is relative volume. This is showing you the exact time period for the last 30 days. So that was this move here. The stop run here. And the ice, you can see it was almost four times more volume. So somebody just got run over. That's what you want to see. And that's why most likely we're hugging that standard deviation because it's like a slow puke or whoever just got run over, right? So that's what you want to see. If you just saw this like red volume, meaning it's less than normal, there's, you don't want to be holding on at extreme standard deviations. You want to be getting out, right? Extreme standard deviations would be web. Still not filled there. Let's get this back. Sorry, I know this setup. Again, I'm fully expecting Whipsaw City here. But it could go. You don't know, you just put on the trade, you follow your rules and you wait. That's all you can do guys.  That's what most traders do. They get like how many guys jumped on that trade when I got in and then it starts to come back and then they peel out, right? This is a perfect example we talked about earlier. How many guys are like, yeah, I'm gonna put my stop right here.  Place your stops in meaningful areas. 90% of an ATR below that. And then I just put it just below this price over. So I'm making this market push it all the way back through this puke zone where somebody got run over, somebody had to get run over, right? Because when there's buy stops, there's resting orders in the order book that just got smushed and it's holding, right? So it's gotta get back through there and it's gotta get back through this other sell ice area that's also wrong. If you really want to be aggressive, you can put it all the way down below this area. This is the first sell ice that we were talking about. So it'd be nice to buy ice for itself, yeah. 150 ton price. Speaking of which, that's the other market you guys should be watching. So it means in wheat. May have some, this is what I was expecting, but again, I didn't want to buy it into the lug. Hopefully we have some new lugs now. Just take a peek. So this is also a potential signal. If you guys watched that Ludwig level webinar I've done, we posted in this room many times. If you guys don't have it, ask to just scroll up it somewhere in here. If we get above the red lug and it doesn't build new lugs, doesn't have the criteria for new lugs and it gets back below, that is an excellent shorting opportunity because it didn't have the criteria to build new lugs. So keep an eye on that. I think we're gonna build new lugs, but it doesn't matter what I think. I'm watching this. All right, so I still don't feel it on this NASDAQ NQ, we're waiting there. Doing nothing on here. This was that smaller ice zone. I'm not gonna trade off that, but I just wanted to show you guys where you can see how well. And look at this the first time it came up here. What's the exact tick? Look at that. You think volume errors matter? Touched it, down 14 points. Actually more than that, I'm sorry. That was almost a 20 point move off of this. Now we're back at it again. This again, you're not gonna get any more powerful than this information. This SI information isn't up on me. But in here, I think this is the official ATR now. This is gold. 23 was the ATR. Bottom of the zone was 28. This move was up to 49. That was not the ATR. This one was, I don't know. Yeah, shockingly it was almost the exact ATR. And then that all goes snap to back. So now what I will do, if this goes retest failure, I'll get in and go along. Remember we talked about this already. I already know in my mind where we're at here, right? This is about to go through this high volume out of this guy. This is a bigger one. Break it out of that through the high volume of that. Then we come up to this stuff up here. Probably. I'll be watching these zones closely, but that's what I will watch if I get filled, if I go along in this market. So if we get retest failure, I will go along. Why was I waiting for retest failure? Because we were bouncing around the old lug. It was not decisive. We were not decisively above it, whereas I would have gone in aggressively. See that? I mean, technically we're above the old lug now, but it's just chopping around. So I'm gonna wait, especially in this market.  I'll tell you that right now. Natural gas, soybeans, obviously equities. This and crude have been extremely difficult trade since the war started. In Ukraine. So just keep that in mind. Any questions, Bruce? Do you know, I think we're pretty good. Yeah, I think we're pretty caught up here.  You could have just said screw it. I think there's enough going for this. I'm long, look at this. Here you go. More than an ATR. Well, look at that, it retested perfectly. I've never seen this pattern before, except 400 times a day. And then you got, this is already a 9.9th century. I would have taken this in a normal situation. I just, I know how powerful the lugs are. So I'd wait, I may miss this trade and that's, I've gotta live with that. I've gotta have, you've got to have rules and you can't be switching them up every day, right? Again, like using an allergy, like when you go outside and get in your car. In certain days, you just decide you're gonna drive on the left side of the road or swerve back and forth. No, why? Cause you'll die, right? Same thing here.   They have to be sound rules, but I'm giving you guys the blueprint, right? You know, doesn't he have to trade exactly like me? Take the bits and pieces that you like and then build your own plan. It's your money, do whatever you want with it. But you know, I'm giving you the blueprint. So shockingly, I'm getting, I'll go to your, I don't know why that would be. I don't know if this Christmas tree has anything to do with it. I told you, you get huge moves in here, but it doesn't mean that they're fun. It's a fun trade, right? This is not fun. I would not be surprised to see it come all the way here, mess around with me, make me complain, talk out loud, and then go. So if you guys like listening to me complain, just hop in my trade room, you can hear me. You should have seen me yesterday. I got filled with a tick on that ES trade. Here, you wanna see it? Let's take a little peek. Get me going here. Let's take a little peek. Does this sit here? Oh yeah, here it is. How's that?  I think it was an ATR, I'm like two ticks. Literally the exact tick and this came all the way down here. Actually, there was a stopper down here. It didn't stop me out and it came all the way back. At the end of the day, I scratched the trade. But this is uncanny and this is what sets me off. You should have heard me yesterday in my room. Like I just, guys, I rehearse it. I practice like not getting upset. Going through the mental anxiety of emotions of when it happens and not sounding like a cry baby, I can't do it. I try my best.  I just can't do it. I tried so hard. Just because I can't process mentally how that can happen that often. No matter, you guys have seen it on the webinars. Bruce, how many times have you seen it on the hundreds of webinars, I'm done. It's like, I just can't process how no matter where I put that damn order, that's the exact tick. I know I sound like a typical trader, but at least it's public and it's not just in my mind. That's the one saving grace I have. So again, when I get put away and I'm in the rubber room in a straight jacket, you guys would say, yeah, well, he actually was right. He did get ticked a lot. Yeah, yeah, we can verify that, yeah. So again, that's the only saving grace I have in it and it's not in my head. Cause most traders are like, you read books and stuff and it's like, it's all in your mind, blah, blah, blah. Okay, yeah, a lot of stuff is, I agree. That's not, I, that's not, I'll go to my death bed. I'll go to my grave, I should say saying that. All right, so nothing is, we're just bouncing around all these zones here. This ATR in here is 50, 55 point, 56 points. It's a point, I don't think we can see. This was 59 up to 89. No, it's only got 30 points above here. So this is still a valid potential short, right? The only time I will cancel this order, I'll cancel that, if this gets a full ATR above, will that disqualifies this as a short setup? Or if something new comes in, then I'll cancel that as well, but hey, look, I'm getting out, go to natural gas and you guys believe this? So the thing is, if you guys already know this in advance, it's not, it's not so debilitating, right?   So it's exactly what happened yesterday. I mean, look how long I was in that trade yesterday. Actually now, the first part I got out right away, this was, this was almost an hour. Well, this was a half hour and then the second exit was, so it was about an hour and a half, I had to be whipsod. If you know that going in, then you're fine with it. I mean, this is just showing, it's a perfect example of how random markets are in certain areas, right? It's like, unless there's a volume event, they start playing their games. And do you want to be caught up in this? So if I get stopped out, I say, congratulations. Well, you got it through this zone and through this zone. Fine, I was wrong. Setup didn't work, onto the next one. That's trading guys, it's a percentage game. You keep taking them, you keep taking them, you have the ultimate edge, you will make money trading. Did I hear something in the Dow? A rare Dow setup, let's take a peek. Out of nowhere, exact threshold. So threshold in YM is 100. I don't remember, I don't think we've ever put a trade on in the Dow in the webinar, so maybe remember, get all the prices in the spike. Step one, step two, check our lugs. Lug, meaning I can go short aggressively. We're not too close to the blue, so I can take it. All right. Step three, ATR, ATR is 90. But again, guys, it is what it is. Like, I can't wish lower volatility on the market. You've just got to accept it and trade it. If you don't want to trade that kind of volatility, then don't trade the market. So 90 ticks, so 90% of 90 is 81. So 81 ticks out of here, I will take to short aggressively. Bottom of the zone, 94, 80 is 14, 13. Is that correct? I think so, that's where I'll short it. Okay, look, what's below, I wonder where we're going. I wonder, I wonder where we're going today. So we talk about this every week too, this liquidity is a magnet. This is the big money, just sitting in here. Look at the difference of this volume versus one lots, 10 lots, right? The big money will get this market to this area, eventually, doesn't mean it's going straight here, but it'll get here. You check back at the end of the day, and I'd say there's a 90% higher chance that this liquidity is filled. That's great to know nowadays when you're coming up with your thesis, like let's look at, I know I don't have any zones drawn on this because I almost never trade it, but I'm sure it looks just like the other markets, but there are a couple zones here. So there's, again, four important areas of charting, right? Tops and bottoms of balance areas, directional conviction, buying and selling tails and high line nodes of balance areas. So right here alone, this was a try to break out held where it should, continue to hire, then get a fail break out of this or right through this guy. It looks just like the other markets, right? And then down here. So this was an important zone. Why was this an important area? This was directional conviction that led to this entire up move, currently. That's what this looked like. You can see we're through there. I don't even know, let's see what it's prior to here. I don't know if I have to go back here to see probably a while. You can draw this area here. Again, a while ago. But this is an important area. Look what happened here. Directional conviction, buying tail led to this whole thing. Never came back until basically now. It's not here yet, but this is where I'm gonna draw zone. And if I get that short moving, I'm gonna watch this zone get out of most, most of my two. You can draw other zones here too, but we're through all that. So this is the next zone down. See that? So if I get filled, I'll be watching this area. You can probably expect a reaction there, especially if it's a straight shot there. So another trade that's, so if this gets 90 ticks above here, I'm gonna cancel this out. Why? Because we got a full ITR above the setup. And then you could actually play retest fail on the long side. Hey, look, I'm being out going in that natural gas. So guys, this is a perfect example. Perfect, right? Look where this thing came back to. Oh, right to the bottom. How many guys got long? Either stopped out here, stopped out here, stopped out here, stopped out here in the middle of it. This is meaningless. Look at these algos in here. Get away from the area. And you don't get algode. This is what I just was saying. This is what you need to expect from this market. It probably will do it again. Maybe five more time. Who knows? But I already know that. It's fine. My trades in, my rules are followed. If it's a winner, great. If it's a loser, not great. Sucks, but move on to the next one, the next one. I just keep harping on that because I'll have guys come in my room. I've told the story before. It's like, I don't like how you trade Nasdaq. I like the risk 10 points to make 20.  The market doesn't care what you want to risk. That's the other thing that sets me off if you guys didn't notice, right?  Like, I don't want to risk 50, 80 points, 90 points. The market doesn't care. The market cares about the volume area. Please, if you do anything from these webinars, get your stops away from the area. Just cut your size down. That's where this risk sheet comes in, right? That's my numbers in my room, get this. I keep getting requests for this, guys. This is one of the perks of being in my room. Come in my room and you get this. They're on the internet somewhere. You could probably find them. But you need to put in your account size. You need to be risking one and a half to 2% of your trade. This will tell you exactly how much you can risk as far as contracts traded versus the points you need to trade. So I'm trading, I'm risking 90 points in the, more than 90 points in the NASDAQ. I probably can only be risking, probably like 150. But you see, most like the point I was on one line. If I had to risk 100 points in the ES, I couldn't even put the trade on, okay? You've got to follow this.  If you didn't do it yesterday, right? I'm telling you, it's going to happen. You may get lucky for a while.  But for most traders, if you're trading ones or twos or even ones, some traders are trading more than that. They're trading like five lots with 5,000, 10,000.  You're going to lose that guaranteed. I will bet you anything.  So just PayPal me it and we'll call it even. Again, that's a joke. All right, Bruce, run out of gas a little bit. Any questions? Just waiting for something to happen here. Yeah, no. I think we're kind of all caught up here on questions. And yeah, I'll let, as noted, I'll let you rant and ask the questions here. So not to it. So, Bruce, do you wake up literally in cold sweats here and you say the same stuff? Well, like, you have literally listened, how many webinars are right now for Bookmap? A couple hundred maybe in three years? Yeah.   Do you just like mute it when I'm talking? No, no, not at all, not at all.  I was, you know, joking mostly. But the, so I did put your links into the room or, you know, into the chat for both Discord and for YouTube. So if anyone wants to reach out to you, you have all of Scott's contact information there.  Let's see, we do have a, I just wanted to mention a couple of things. Scott, number one is, you may want to look at this in the future here. We have this new indicator called liquidations. It's for the crypto markets only and only for a handful of exchanges. It's very much, yeah, I mean, it's very much like the stops and icebergs here. Really? Oh, yeah, yeah. This is amazing, like, but what it shows, I don't, you know, somehow some of these exchanges are disseminating this data that it's showing where people are actually, they're closing people's positions because they're getting margin calls, they're getting liquidated. And, yeah, yeah, it's amazing. Guys, I'm just telling you a preference to like, a side note to this, when Bruce says something is amazing, pay attention, he told me two years ago, hey, Scott, you got to see the CME-NBO data where you can see these stops and icebergs. It's amazing, literally three or four months. I just, I'm like, yeah, okay, yeah, I'll get to it. Yeah, okay. And when I looked at it, I'm like, wow, this is amazing. This is the most powerful thing I've ever seen. I told you guys, I was going to trade stocks. My first few book by book webinars, we're trading stocks. Yes, I see for sell MG, 156,000. Because I was so jaded from futures trading and losing all my millions of dollars and not be able to make money in there, right? So I was not going to trade futures. In the minute I finally looked at it, when he told me it was amazing, then I said, this is the most powerful thing I've ever seen. So the point is, if he says something's amazing, it's amazing. So you can see something's coming in here. This is threshold, now I can trail my stock again. So I can risk less on this new setup. Somebody keeps selling this thing, big money-wise. It's a nice tight zone. So I can get it drawn and set up before I get stopped out. I caught it, I caught it. What? I caught what you're saying, where you're going with that. Yeah, yeah, yeah. Look, we're offering this liquidations thing. And I know we were, there's some updates. We do have some updates on some drawing tools, I think shortly. Anyway, what I wanted to mention though, Scott, is you'll just be amazed how, if you really, I mean, for me at least, to really understand these markets, like this kind of random walk in price and people getting stopped out, or seeing these book sweeps, now you can put that together with these liquidations in crypto. And it just shows you what's happening in these markets. It's like, this is how they operate. They kind of just meander, unless there's a directional move, they meander to hit pain points of people where they're compelled to buy or sell. They get stopped out, or they're getting liquidated in the same areas. So it just confirms what's really happening in these markets. And it's pretty incredible. I've never really seen anything quite like it. So anyway, I wanted to mention that. Another thing I wanted to mention, there's a trivia night tonight, guys. So first place winner gets a prize. It's fun event. It's at 430 p.m. East Coast time in our Discord chat room. So. Yeah, I've seen that. I've seen you do it before. How do you do trivia with the internet? People just, don't they just Google whatever you ask? Well, there's that word. Yeah, yeah, they really figured it out. Like it's pretty cool. It's pretty cool software. It's based on how quickly you answer and you only have like 12, 15 seconds, but how you have got to get it right. And, you know, the quicker you answer, the more points you get. All right guys. So you saw what I just did there, right? So this is the new setup. 150, that's my threshold right there. Black zone. I trail my stop. You saw my ATR, the ATR is 54. It's still at 60. So I went 90% of that. So 54 ticks below this zone. That's my stop. That's not right. Oh, no, no, yeah. So 54 ticks below here puts me at 30 ish, but I went, like I don't wanna stop out. And this is the first zone we traded off of, right? I don't wanna stop out in the middle of this. So I'll go a little, I'll go, you know, I'll risk another 20 ticks to just stay outside this zone. You see what I did. But as new setups come in, I'll just keep trailing my stop. You could be adding too. Just haven't added here, but there's my first order. If this, you know, this turns into broken ice, you can trade this zone with brand, you know, whole new, as a brand new setup with two more contracts, so on and so forth or whatever you're trading. All right, so nothing really happened here. NASDAQ, you know, if we get, if we get 50, it's 55 is the ATR. If we get 55 points above here, I'm gonna cancel this, wait for something. There's just nothing happening in this equities today. Nothing in ES. It's like, we may be finally getting through the zone, but this was not enough for me to trade off of. It's still right in that zone. Let's just check our dial real quick and see what happened in that. So now, we'll say 90 was the ATR. So that's an ATR. So now what you can do here, and I'm not, I didn't get in this aggressively because we're below the yellow love, but if this goes, starting here's your ATR, wait for your retest, wait for your failure, I will go along. This is canceled. Now, the short idea because we got an ATR above the zone. So I'll be waiting for a retest there when I'm gonna do here too, is I'm gonna put in notification. This is what it sounds like. Very pleasing. We come back down here because I wanna know if we retest the zone. The problem is I don't, it goes off and a lot of times I don't know what market is. That's what this bother. You can make your own sounds. I gotta get on that. Literally like my own voice saying, heads up, dummy, YM, something like that. It'll be funny though. So still have this on, we know that. Soybean ice, two-eyed ice for five years, 151 contracts. One quick peek at soybeans to see if we build new lugs. Obviously, only along today. Always a little pullback like that. So remember now, if this doesn't build new lugs, this is, I'm gonna short this thing. Even once we get back below the, we're getting a set up right now, we get back below this. Oh, there's new lugs, okay. So now I can at least trade to the long side, right? Here's your new lugs. What do we say? You wanna see the market hold, directional yell and or prior red. So we're basically right there. So this should hold. If not, then I'm still gonna go short. I'll wait for retest failure because we're dancing around the yellow log. I'm not seeing it in here though. So what I will do, I know we announced it, but again, this is showing you net net icebergs. So there's buying and selling icebergs in here, obviously, so it's not showing you the full 150. I'll still play a retest failure off of this zone because this was significant ice. I'll give it a shot. So I will go on soybeans. I'm waiting to do that all morning. All right, you can hear my waterboarding going off here. Markets are ripping out. So this is definitely, bottom of this was what? Yeah, that's 60 ticks. That's an ATR. The short idea is done. Now we wait for new setup. So do you see how like waiting for this area to resolve itself? It's like, did I go short right away? Did I, was I like, oh, here's all I say. The minute we get below here, I'm getting it. No, I wait for my rules. And that helped me avoid getting smoked. All right guys, and then we didn't really talk about the funny thing again. I'm doing that apex. I'm gonna do a webinar next Wednesday. I'm gonna send out a mass email with the link and everything with them so you guys can ask questions. They're legit. I'm doing multiple accounts with them. I wanted to show, I wanted to show everyone that my room included that it was legitimate as we know there's some out there that are not. Where all they're trying to do is take your money for the fees. But I'm gonna do a webinar with them next week and I'm gonna go over my experience as well. And you guys can ask questions. So I'll send out a mass email. If you wanna get on my email, let's just go to my site, scoppelsignaturetor.com and then add in, there's like a button in there where you can put in your information. Then I'll send out the email with the link for that. That's next Wednesday at noon, noon central I think. Other than that, I hope you guys learned not a ton of trades today, but just good learning experiences, right? I mean, this is what trading is. If you think it's something different, it's not.  Yeah, and everybody, if you like this, please like it in YouTube. Give them a thumbs up for Scott. This is just really helpful for us and helps us continue to offer these webinars.  My God. That's not a smart move. Kidding, kidding. These days you can't even joke around with stuff like that, so strike that from the record. Yeah, like the past results aren't, I need to put in the disclaimer on that one. Right, disclaimer. Scott starts threatening people on the webinar. That's a joke, guys. Just a joke. Just trying to be funny. You gotta laugh in this game or you will literally be put away, so. All right, hopefully you learned some stuff today. I do this every day in my. 150 contracts. I do this every day in my trade room, so if you guys wanna learn more, head over there. It's in Discord as well. Thank you, Scott. Excellent webinar. Sure, see you guys next Thursday. Okay, bye-bye. Thanks, bye.


Good day, fellow investors. Today we'll discuss how index investing is good, but I firmly believe that you can do much, much, much, much better. So we'll summarize Jack Bogle's view on index investing, his main points that I mostly agree with and then I'll show you some research by Professor Fernandez from the IESE business school that contains simple investing strategies that have outperformed the SAP 500 by far over the last two decades. The outperformance is exactly where my criticism towards index investing, mindless index investment lies.  Further, I'll show you the 30 lowest PE ratio and price to book ratio stocks of the SAP 500 where you can dig in for better business returns, because that's exactly what Bogle says. What will determine your returns is the business. So if you invest in the SAP 500, you will invest in corporate America, but you can invest at a 4% earnings yield at a 25% price earnings ratio, or you can invest at 10% earnings yield with a price earnings ratio of 10. So it's up to you to see what will be the best return over time. Index investing invests always in the hot stocks, which are usually expensive. But let's start with Jack Bogle's. So in a recent interview with Maria Bartolomeo from Fox Business, the link is in the description below. Jack Bogle discusses how everything has changed since he started Vanguard in 1974. The mutual fund industry is different and 70% of the cash flows goes to index funds, which didn't even exist back then. But what I totally agree with Bogle is that people focus on costs and that's a good thing. The lower are the fees, the less you pay intermediaries like the financial institutions, the more money is left for you. I already said that I completely agree with Bogle that the business generates your investment returns. And I also agree with him that ETFs are really not good, because those are made for trading. And when investing in index funds, you want to be a long term dollar cost averaging reinvesting dividends investor. That's it. ETFs have higher fees that lead you to trade. And that's something where you pay a lot of fees to your broker and to those who invent those crazy ETFs that have no really meaning, but try to get some more money out of you if they are so cool where they can charge a higher fee. So I agree on all those points. But in the interview, if you have watched it, then you will see that one criticism towards index funds is improper capital allocation, because those are market capitalization weighted. So the bigger the stock is, the more of the index funds will be invested in that. Jack Bogle says that there is no cost to that and there is no such thing as improper capital allocation, because they invest as the market is. However, I think and statistically, we will see Professor Fernandez research shows that that is completely wrong and that unweighted investing beats, destroys weighted investing. So that's something where Bogle is wrong. And that's something where you can easily outperform over the long term. Let's see. So when you invest in the SAP 500 now, 4.11% of your money goes into Apple, because it's the largest market cap stock. And only 0.51% goes into Walmart. So what you're doing, you're buying more of the cool stock and less of the undervalued stocks. And such an investing distribution makes the stocks of the larger companies even more expensive, because more money runs after those shares. So this is not proper capital allocation, because it looks only at market cap that's even distorted by the purchases of the ETF. So it doesn't look at valuations, it doesn't look at price to book values, it doesn't look at anything, it's mindless investing. And the market has already distorted, thanks to index fund, and that won't end well. Jack Bogle is 90, so he doesn't care over the long term. And he has been lucky, because he has had constantly declining interest rates since Vanguard got traction. That's something he doesn't mention, but he knows it. So how can an investor outperform? Fernandez presents eight portfolios that investing 100 in January 2000 became on average 45,000 in April 2018. 100 investment in the SAP 500 in January became $256. So those are huge differences. What we have to do to outperform is simply being rational. Be diversified, small stocks and value stocks have outperformed over history in history. Unweighted indexes have outperformed weighted indexes. Further, rational investors evaluate the managerial and ethical behavior of the companies in which they invest, and rational investors avoid investing inexpensive according to their judgment companies. So let's look at this table, annualized return for the SAP 500 is 5.2%. Yes, 5.2, not 10, not 7, 5.2 since 2000. SAP 100, the bigger companies is 4.2, SAP 409.7, a little bit high for the mid cap and 10.1 for the small cap. So the smaller you go, the smaller stocks you buy, the higher is your return. And that has been so over history. Now, if we look at smaller companies that we already see outperforming even in weighted index, but go to unweighted returns, we can see that smallest 20 companies of the SAP 1500 have had annualized returns of 47%, smallest 40%, 45%, 40% the smallest 80%. The biggest 20 companies, these are portfolio rebalanced every year that include their respective stocks, has had only 3.6%. So if you buy the biggest, you have the lowest returns. Now, this does not mean this will happen again, but this is just an example of for food forethought of how, yes, you can destroy the SAP 500 if you don't do what everybody else is doing. And what everybody else has been doing over the past 18, 20 years, is investing blindly in index funds. And they got 5% because they were lucky. Further, in the next 10, 20 years, they could be happy with zero. They won't be happy with negative, but I tell you, they will be, should be happy with zero. So if you want to do things differently, you have to use common sense, you have to be rational, and you have to find better ways, better business returns than what the biggest stock on the market offer, which is what index investing is. So the point is that the SAP 500 is expensive, the price earnings ratio is 24, but there are many stocks that have lower price to earnings ratios. Look at the lowest 25 valuation stocks of the SAP 500. It starts with micron five, then it goes to what? Alliance data systems 9.6. But those are 30 stocks that have price earnings ratio below 10.  And you can have a portfolio of 20, 40 stocks with price earnings ratio below 10, that will give you a long term return of above 10% at the same risk of the SAP 500. Further, also price to book, price to book value. There are stocks that have price to book values below one, which is much, much better than the above three the SAP 500 offers. So if you look, you can find the well diversified 20, 30 stock, good stocks, good American corporations, businesses that will give you above 10% returns in the long term. You just have to look for them. And those will do better than the extremely expensive SAP 500 stocks. If you want to know more about how to find those stocks, how to analyze where to find, if you want to hear more about analysis of such stocks, please subscribe to this channel or check my research platform, where there are already some very interesting high return lower risk stocks. Thank you for watching, looking forward to comments and I'll see you in the next video.


So Tilburg, I think, has a very nice balance between research and teaching. When you start out here, your teaching load is quite modest compared to other schools. So you have enough time to pursue your own research, which is essentially how you get tenure when you're a professor. So it's very important for starting off your career. Tilburg is actually the number one school in Europe for my field. And in several other fields like economics and finance, it's extremely, extremely good. And one thing that I really liked about Tilburg that stood out immediately was the sort of community feel. And that everyone here sort of gets along in a nice sort of social environment, a very friendly, positive environment that's here. Tilburg has a great reputation in terms of research, and they offer a lot of flexibility for families. In the Netherlands, it's quite common to have a lot of free time to spend with your family, and that's quite different from the US where I'm from. We go biking all over the place. My son sits on the front of my bike. It's a very convenient for us where we live. So on the one hand, we have a lot of space. On the other hand, we're quite close to the city, and we have all the sort of draws of a city. So when I first saw the job offer, I was a little surprised at the modest salary. However, when I came here, I realized that actually the cost of living is quite low here. I think the university tries to maintain a healthy work-life balance for its employees.