Good morning, everyone. Welcome to the Trader's Lab. I am your host, Tom B. Could I confirm that we have sound on B2 and also in YouTube? All right. Thank you. General disclosure, all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice or 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. Risk disclosure. Trading futures equities and digital currencies involve substantial risk of loss and is 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 or 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. This is for educational purposes only and this is not a trade calling room. So please follow your own trade plan. The goal here is to show auction market theory using the tools of volume profile, which represents volume and price and also market generated structures to initiate and interact with the market in multiple time frames. Today is very interesting. We started out on the long side this morning and we're enjoying that immensely until we had a change in behavior in the market and then we turn around and got short. Those of you who are looking at the market this morning, basically we opened up on the edge of yesterday's range outside of what's called value. And that was saying there was an imbalance in the market. Now we have statistics that suggest the potential for the overnight stat. Now that's ETH higher low getting taken out during the RTH session and considering we were reasonably close and we were outside of the previous day's value. That suggested to me that we had the potential to continue to squeeze higher. In addition, in the ETH session at the time the low had tested the developing value area high of the previous day. So that was suggesting at the time that the market was not accepting yesterday's balanced day and it was going to check higher. Well that ultimately failed. We did not get to the overnight high. However, and this is something that's interesting, if you were here in the traders lab yesterday we were trading in something called balance or mean reversion and that meant outside in, outside in. So that was the configuration earlier today. So that mean reversion base and the way you can tell balance is kind of like a big belly in the middle and thin edges on both sides and typically what you'll have is the volume point of control, which is what's considered the fairest price in the middle and the midpoint and often the VWAP aligned and right on top of each other. And that's kind of a neutral configuration in the sense that it's the balance is suggesting both sides are active and it's a battle taking place. And as I had mentioned I was on the long side in the morning. So the long side was fine until it wasn't, you know, and then when we fell out which was not what I thought would happen, it doesn't matter what I think, I just, you know, basically dance with the market and if something changes, it's like turning the ship around, turn the ship around, get short. And then the targets down below become traverse yesterday's range or value error. And let me give you some of these statistics. 39.18 was yesterday's value area high in the ES. 39.18, what that meant was 70% of the volume for the day, and remember it was a balanced day, both sides active, tended to have somewhat of an upward skew, but we kept returning back to the middle. That's what balance is. 39.18 was that level and in the ETH we tested down towards that level and we didn't take it out. So that was suggesting to me the long side and that's why early in the day the long side may sense, okay? However, when we broke back inside that 39.18 level it set and failed basically that sets up a potential to traverse that entire value area. The value area low, which means the lower side edge of yesterday's most accepted value, where 70% of the volume took place, was 38.90. So that was our potential target below and along the way the most traded price yesterday was 38.97. So we had those targets. Now if we go take a look, you can see we took out yesterday's low, the current low is here, and 38.55 was a key low from, I think it was yesterday. Now if we take this out, we're going to be breaking out of what's called balance and then we have the potential eventually to come down to 50, which is resting liquidity and this liquidity almost 942 contracts. And this is where the heat map is really valuable because I can tell at a glance that there is this liquidity is here and it's been in here since before the RTH. So and that isn't it interesting and it's a strike price of course. So that's a potential area and target. And of course, it's not a trade recommendation, but this is kind of how the market is set up now. So now now, was everybody with me? My description of where value was yesterday, does that make sense? And by the way, that's basically based on concepts of market profile and also volume profile. So does that make sense? By the way, those of you in the Discord chat room, if you have questions for me that relate to anything we discuss, please post them in the Trader Lab chat as opposed to messaging me directly. Since I get too many of those and I'd rather just answer it for everyone because I get a lot of similar questions. That'd be very helpful for me. And also when you guys in YouTube, by the way, welcome. Thanks for being here on a Friday. It's been quite a busy week, you know. So I don't know about all of you, wherever you are. I'm kind of tired. It was very active trade today and once we broke out, I have to tell you, I was pretty, I was let's just say active. You know, so that's why I probably started a few minutes late today. I just, you know, have to deal with trading, which is why we're here, right? So let's go take a look at what's going on in the microstructure. Now for those of you, if you're new here, basically what I attempt to do is use microstructures to position in the market. And that means attempting to read inside the auction. For example, this is a consolidation. The market broke down. Return to it right here. Let's take a look at this. Right here, this little behavior. This is a short, okay? A scale. And these aren't recommendations, you know, I'm just sort of pointing out behavior. So you can see structures to potentially engage in the market. And so you can understand, so what you have is chop, chop, chop, break up, break back, chop, chop, chop. So I'm looking at the chop, chop, and this is an auction. And look at the behavior. So chop, chop, chop, chop.  And I'm looking, you know, for an area because this is my target, right? So, but here come the buyers and they squeeze. I go up, I guess that's not it. How about up here? Boom, boom, boom. So I'm watching. Now, what I can do with these, and this is what, for me at least, book map is really helpful, is I can see inside. And I'm looking, now, if the market is short, we know that retail traders have, and let's call it weak hands, or just those who want to protect open trade profit, are trailing stops under the market. So, and they typically will trade their stops behind consolidations. And because retail traders tend to act the same way, they're going to pile them up here. And that's what you can see when this releases, this energy that stops behind here releases, then you see 92, boom, 142 stops going off. But here, let's look again. So there's 142, 162. Let me just try to open this up for you. What I try to do is, first of all, I try to anticipate behavior. I anticipate stops above yesterday's low. Isn't that logical? Right? I also look at this. And this is an outside edge. So let's observe here. So the market's coming up 154 stops, eight stops. Isn't that interesting? So, stops, stops. And I'm looking for exhaustion. Well, one of the tools I use is, it's part of the MBO package in Bookman. And what that is, is it shows the stops in icebergs, on chart, and also below. But on chart, I want to see it. And I have this set to see everything. But fortunately, it also aggregates. So I can, I don't have to have all kinds of little numbers on here. I can adjust this so it puts them together. But if I zoom out, it breaks them apart.  So I kind of keep an eye on all this. And I want to see the detail, but I don't want to be overwhelmed by the minutiae. So I have that possibility. Here's the key. 141 stops. Thanks for playing. Enjoy yourself. Have a great weekend. And here we have eight. Now, what is that? Well, from our life in indicator world, that is divergence. Higher price, lower stops. Now the thing about a stop, remember, what's a stop? It's a market order. Where do we anticipate potential retail trader behavior? Stops? Over yesterday's low. If we check in to yesterday's low and we can't continue, and this is a high volume note, if we can't get back above here, we are now potentially at an outside edge for potential mean reversion and onto target below. I hope that makes sense. So let's look into this a little bit. So here's what you have. Chop, chop. So exhaustion, chop, chop, chop, break. So in here is a potential short. Right here. Because I'm going, maybe, you know, I'm in a fractal that's very micro. So it's almost like, maybe, you know, maybe, and that's best I have any time I put a trade on is maybe. So here's what happens. Exhaustion. See, there's no buyers. See up here? There's really nobody here. Do you see the buyers? I just see seller, seller. It's subtle. And it doesn't activate me. It puts me on alert. And I don't do this in the middle of nowhere. I typically, I mean, you can do it whenever your trade plans suggest, of course, but I want to see something where retail trader behavior might take place. And that would be over yesterday's low. Everybody write that down, please. If you're not familiar with this, think like a retail trader, don't act like one, you know. So when I'm looking at, let's just say across the tundra, I'm looking where retail traders might have collective behavior. And that's why at yesterday's low, you see these, in my opinion, 124 stops. Why? Collective behavior. If those stops are taken and there was more on the way up, but this is the high number of stops. Why? Because they're all the herd. I almost, I mean, I think like it's a herd of, I don't know, fish by herd. I mean, a school of fish or a shoal. You know how they all move together? Well, retail trader behavior is fairly dependable, because most or many do the same thing. So if we anticipate their behavior, we can also anticipate their stops above yesterday's low. I'm giving you a thought process. I hope this is logical. Does it make sense? Is that a yes or we don't know? If it doesn't make sense, ask the question. YouTube also. All right, thank you. Thanks. Okay, so let's go take a look at the behavior. So this is a potential short location, potential outside edge of a distribution. If, and I don't know what comes after this, because I haven't looked, you know, and if I did look, I can't even remember. You know, there's so much of this. But it means the potential to come back towards the high volume area, which is here and here, and then potentially lower. So we'll see. Okay, so let's see what we have. So potential short, break, pull back. It would be here, against here. Here's your high volume node. Remember, this acts like its own little V pock. In other words, this is an auction. This is a auction chop, chop, chop. And the fact is alignment. So if you have a plan, and it's not so much that you have all these things listed, but part of a plan, at least in my opinion, is anticipating behavior and where it might take place. And it's, I think, pretty natural. And ask yourself the same question. Is it fairly natural that we could test yesterday's low and that stops might be there? And if we don't get back into yesterday's range, we can then you lower, that's logic, you see. So that's this. Anyway, that's the thought. I hope this all makes sense. So what is the first job, of course, when we put on a trade? Is anybody remember if you've been here before? Get risk neutral. That's right. Getting a scale risk neutral. How about you in YouTube? By the way, in YouTube, you can adjust the resolution and you can put it to 1080p. Sometimes it doesn't automatically do that just so you know. So this is our short goal is a scale, right? So if you got in here, this area, or in here, wherever you are, your risk is above this swing. So it's a few points. This is within my wheelhouse, you know, two, three points. After that, I start sneezing because I'm allergic to it. So I want that's why I got into and looked at these micro structures because it's really about the smallest I can slice it down and read behavior. I can sometimes see the behavior in a smaller structure and but I want to see something a little more meaningful. So it gives me kind of a heads up maybe. And then I want to see see this last little swing. Notice we broke below it. See the red dots. So I that's and those are delta, by the way. So what that is telling me, obviously, there's buyers and sellers, you know, right, there's two sides to a trade. Typically, right, there isn't just one. But this is the delta. So it's showing me in this move that it was the sellers who are dominating it. Okay, so that's the delta. They were crossing over. So that is the urgency. And that's what showed up in Delta. You guys, are you guys with me? So risk neutral. So you guys hide and seek this YouTube. Does this make sense? So I'm looking inside. And because I can see the delta, I'm seeing the aggressor. And that's really market order. Okay, so they're crossing over. And that's a more it's considered based on the delta a more aggressive participant. So that's what these dots are showing. So it's not just about selling or buying volume. It's who's aggressive in that. I hope that's useful. And that makes some sense. And it gives you more insight to what we're actually seeing. Okay, so this is our short. Now, where's the stops? Let's go back the other way. We know we got these guys up here. We exhausted, right? No buying above here. That's the exhaustion. That's the tip off to look for the reversal. Here's the delta aggressive selling. Here's the pullback. So chop, chop. This is a high volume node right here. Right?  I want to show I'm going to show you the minutia because this is how you can use tools like book map to give you the insight and potentially the courage and conviction. If you can recognize the behavior to interact with the market if it aligns with a location based on your trade plan and experience and knowledge of the market. These trigger structures are going to show up everywhere. But in my opinion, they have to be aligned with market behavior. And for me, retail trader behavior is a consistent process. So I lean on that. Well, Tori, that's our function. The question is what's the difference between the downswing compared to a pullback and an uptrend? Well, we're in a downtrend. So right now we're looking at pullbacks in a downtrend. So we have to wait for an uptrend to talk about that. But it's really just the opposite behavior. You'll be seeing longs getting taken out in an uptrend on counter rotations. And then you'd be looking for the opposite thing. You'd be looking for the opposite to sell stops to exhaust the consolidation and then getting aligned. That's what I was doing this morning when I was on the long side before we we reversed context. So I anyway, I hope that answers your question, Tori. And thanks for being here. So let's look. So this is a short, again, we're looking at the Delta, right? See this energy. All right. Now remember, we have a target. And again, a target is just a maybe at best here 3850. And as potentially an eventual target. And of course, I have to say the caveat, it's not a trade recommendation. Here's the low of the day. This is a previous low that we checked in the ETH. And we've reversed off of night, without going back and looking, I think it was yesterday. And then we had that battle yesterday, which was two sided trade. Now, this is back on the, you know, as potential, if we break below it, this is the next target down. And then there is our potential more extended targets. And I have no idea, of course, if they're on the plan for today, it's not up to me, it's up to the participants. This is a naked volume point of control around 3830. And let me explain. This area here is a composite high volume node that acts like one of these. This was the highest volume area. The last time we were down here, we checked it, I think yesterday in the ETH and rejected it. Okay. We are now back here again. With that, it's suggesting to me, and again, it's a maybe at best, is why does the market need to come back if it already checked? Well, it went back in the other direction and found its sellers. And now these buyers are in trouble. So potentially here and here. And what this is, this behaves the same way as this. This is a price check in the highest time frame we track, which means all the volume that ever traded here. And previously, when we were in this area, we left this behind and we went to life of contract highs. So now, and we tested it and were repelled from it yesterday. Well, today we failed. We're coming back. That is suggesting, sorry, Charlie. The long side is failing. So now this is at risk. This is next. And this is the same process. But this is an artifact of high volume that was left behind the last time we were down here. This is left behind from the developing daily timeframe. This one was left behind in the high timeframe. And this down here is what's called a low volume node in the highest timeframe. And so you understand what a low volume node is. Now I'm going to take you back into our current fractal, our developing timeframe, just so you understand all these pieces. This is what a low volume node looks like. But imagine the same kind of thing in a much larger structure. It's all generic. It all behaves the same way. And even our little triggering event here, it's the same process in micro. I hope that makes sense. And if it doesn't, fractal, IVETA means inside. It's like those, and I never say it right. So I apologize. Mashutska dolls. And it's inside of inside of inside. And what we're doing is we're slicing this down kind of like an onion. And we're looking inside micro structure to get aligned with a developing daily structure to be aligned with the higher timeframe structure. So trading inside out really with alignment. So we need locations to try to engage with the market. So that's what fractal is. It's inside. It's like those little Russian dolls. So let's see what happens on this one. Remember job number one is to get risk neutral. So we have to get scaled. Now, if you're not familiar with what this means, it means is if you enter here, and your stop is up here, you want to cover that risk. So and that means whatever. And this is just one way to do it. There's other ways to think about it. But for me, if I risk three points or two and a half points, my first contract comes off at two and a half points. Now, mentally, I'm at ease because I've managed my risk. And now I can see if the trade gets to the next location or not. So let's see what happens. So we have our rotation. We have our scale risk neutral. Now we're going to watch. And this is where it gets interesting. So observe please. Now, what did we have here? Is everybody remember high volume right here? This is where the short was. Here's the retracement. This is also a potential entry. So it was here, break, scale, here, potential, short, return to test. Let me show it to you again. I know this is micro, but as a day trader, I'm interested in the shortest timeframe I can interact with the market and hope to get risk neutral. This is this high volume right here, this little thing. And what this is showing right there where you see 735 contracts is that's where the most interaction took place right in here in this little area. So it is saying, this is too high because we only went up there and then came down. And it's saying, if this is too high and it comes down, comes back to the high volume and then falls away from it, that's a micro auction. And what an auction is, is trying to find out a fair price. And we see these in consolidations. However, remember, the structures and where you engage with the market is the key element. And remember, what's the key element? Retail behavior stops over yesterday's low and exhaustion. So we have that right. So now I'm looking for the short. For me, the short is here. And if I didn't see it, let's just say, you know, I can't move that fast. And part of that has to do with experience, practice, right? This is my high volume area. So let's look at the retracement. This is the test.  So I can, I can enter here. It's at some point, it's this unconscious competence that develops from doing something for a long time. I see it. I don't have to really see it clearly. I have a location. I'm kind of ready for it. I anticipate it. I don't make it up as I go along. I'm using retail trader behavior to give me an edge of potential, what they might do. And then if the market or the behavior confirms it based on my trade plan, then I can interact. But here's the high volume. Notice the pullback. This is a potential short here. And your risk would be above here. So it's pretty much almost the same location. Now, if you're like me, you can't enter here. Why? Because you're waiting to see. So you have a little more risk maybe entering over here.  Still, to me, pretty palatable for the S&P, especially with potential, you know, to move lower. So let's see the behavior. So again, scale, risk neutral, right? And now we hold. Is everybody seeing this? Just want to know if it makes sense and you can see it. Are you guys with me? Okay. I'll get it right. I better just spell that out and write it somewhere. So now the issue becomes trade management. Let's observe. So let's go see what this thing is doing. Remember, we have a target here. You know, this is our target. Observe. The short was here, here, right? Pull back here, scale, risk neutral. Pull back to here, here, pull back. Now remember, where's your stop? Depending on your time frame, this is up to you how to manage your trade. Your stop is here. You would be scaled depending again on how you dance with the market. Or under this area, the low volume. Remember, this is like a, this is a larger time frame consolidation. Okay. So this is the outside edge. Remember, I said low volume node. That's like, and this is mean reversion. If you were here yesterday, do you remember we were trading mean reversion? That is outside in, outside in, right? So this short is still valid. Nothing has changed other than noise. Let's watch. Again, I don't know what was going on here other than I'm trading a plan. So watch here. So if you're scaled, well, I'm just going to keep it basic. Okay, I'm not going to get more advanced for you guys because why should I annoy you? This is the next target, right? Is everybody tracking with me? Does this work? So short here, opportunity here, another opportunity here, another opportunity here, target. Not saying just, you know, and you saw this in real time. I hope you find this useful. And if it doesn't make sense, don't worry about it because this is simple, but not easy. I'm doing a simple process. In my opinion, you don't need complicated. Complicated is the enemy of making a decision. Simple keeps your mind focused on a few key elements. So to summarize, I am trading inside out. What that really means is and I'm, it's a fractal and all a fractal is, is the same as those Russian dolls inside of other higher timeframe structure.  I'm not in that. That's not me. I'm someone who wants to dance with the nuance because I'm risk adverse. So yes, it means I take more trades. It means I get scales and get taken out and it means I take stops. However, if I protect my account and it can risk two and a half, three points with this kind of possibility, I suspect that might work. It works for me. Now, 3850 was important, right? What I'm going to do now is I'm going to mark it and I'm going to call it an obstacle. And what that means is if we return to it, we want to observe it. It's not necessarily actionable, but it's the behavior was significant here. Often we come back to these levels at some point. I want to look at it a little more closely, just so you know, and these are not trades. This is behavior. And right here, you can see there was behavior in the market ran away from it. So I want to just open this up for you guys so you can see it here. Break pullback. This is now resistance. If I was trading actively and again, these are not recommendations. Considering the higher timeframe context, we are below here and we have extended targets below. This is potential. And this is again, I have to caution you. This is just what I might do, not what you should do. The way you develop confidence in any process is you have to study it and understand it. This by itself is not actionable. What supersedes everything for me is the context. And the context is we're in a trend configuration going down. So then it's just sell. Not a recommendation. That's just me. And any buying I do is covering. For me, I don't counter-trend trade in a trend. I can counter-trend trade in balance, like yesterday. I could be long, short. That doesn't matter. And this morning, the same thing. But this morning, it was long side on the counter rotations. Now, shorts until it changes if it does. And I don't anticipate much change at the moment. So break here is aligned with the context. Pullback, test, watch. What do we get here? So the break, they execute. Thanks for playing. 989 stops go off here. That's pleasant. 1900 sell stops. This is showing us the energy being released. The longs at the moment are wrong. Thanks for playing. Break, pullback, chop, chop, chop. Watch. Now I'm going to go into the microstructure. Everybody, I hope you find this useful looking at the microstructure. I know if it's boring or something not useful, you can, you know, let me know. Are we good with the microstructure? Are you guys in there? Zimber of the E in front of the is executed. Those are icebergs going off. Okay. So buy icebergs. 800 buy icebergs here. Now, when you see a buy iceberg, one of the things for me when I see icebergs is I'm not sure if they're getting, if they're initiating or covering. My suspicion though, I'm going to say without knowing because there's no way to know. I'd say they're covering. So that's just me. And look where it executed. 55. Here. So they're covering going into this. So anyway, let's look here. Do you guys want to see this microstructure? Is that a yes? Okay. I just wanted to be helpful. So this, it's the behavior and the liquidity. If sometimes what happens is we come down towards liquidity and are repelled by front running. Other times we trade through it and reverse. I think of them like support and resistance.  And then it's the behavior on the return. So look what we have. Seven stops go off here. And what does this look like right here? Volume. See it over here? Volume. So this is just the same as the other little fractal we were looking at in my, the way I look at them. So I'm looking now for the break and the pullback. Do we get the pullback right here? See this? Watch. Chop, chop, chop. This is an auction and a microstructure. I'm against what I perceive to be potential underlined because we don't know anything other than maybe at most. And I'm looking again at the stops. One, if you open them up, you can kind of see. See the exhaustion here? So it's the chop, chop, chop at the location, not in a vacuum. A one lot. Then what? I'm waiting to see if it pops up and comes under or just pops up in reverses. I'm going, yeah. Because what I'm doing, what I'm sitting here, I'm watching and anticipating. If you play chess, it's the same process. It's a strategic approach. You know if your opponent makes a move, you might be able to recognize where this opponent is going. If I see a counter rotation, I'm looking now for the move from the other side. If you play chess and you make a move, isn't the idea to try to pull the opposition into behavior? Well, I'm looking at the same thing. Counter rotation, my opposition, these buyers here, they're my opposition. I want to be a seller because we have broken below in a higher time frame key behavior and location. So I'm giving you a sense of how I put pieces together. Does that make some sense? Yeah, Louie. So watch. This is our micro high volume node. A ton of volume went off here. You can see it. 1,300 contracts and we're below it. Okay. So I'm looking for the test of this area for a short. Again, no buyers up here. There's a one lot, one stop going off. Who's that? Watch the behavior. You see the behavior. This is a short. Now, do we come back? No. Let's see. See the behavior. So this now this might not be your thing. I understand this is takes a lot of practice and skill. But I want you to observe the behavior. And the last thing you want to do is get careless and reckless with something you don't, you know, you're not accustomed to. But this is something that I would suggest, take a screenshot. And you have to put it in context for what's going on. We're in a trend configuration down. And let's go back and remember, what do we do? We're falling out of a key location where it took out yesterday's low, we're below this high volume area, which suggests this, which was the fair price is now unfair. We can come back and check this from below. We and we also can come back and check this from below, which is why this was a potential short. And we're leaning against the high volume right here that was created. Are you guys with me? I mean, is this logical? Well, Rowan, there's not that really much as I there are no indicators on this chart, Rowan. All this is is very simple. This is buy stops. These are sell stops. This is icebergs. There's nothing else I'm looking at other than the liquidity, the structures. These are not indicators. And what the volume says, because this is auction market theory. This is liquidity. And this is something you don't see unless you have a tool. And this is called the heat map. And it allows me to look, I can look up and down the ladder and see where the resting liquidity is. Here's more down here. How would we even know that? There's 640 contracts here. But I'm, and that all this is changing and moving around. This is the limit order book. Well, I can just look right here. There's, there's, that has potential. And it might do it today. It might not. This is the next target for today right here. No indicators. I hope, you know, that makes sense. I don't use indicators. Is this helpful? I'm not a believer in indicators as if those, and it's not that if indicators work for you, that's all fine. I'm, it's just what I found is I over, I complicate things because the illusion with an indicator is that somehow you can squeeze the risk out. And what those who use indicators tend to use multiple indicators. And what that really is, and what it really says, which most of us don't understand, is that it's random. And it's an attempt to curve fit indicators to different market conditions. So we put more indicators on to try to make up for the other ones that don't work. And if you're doing that because you thought indicators were the answer to me, look in your software, count and take the time because it'll take you probably a while to count how many quote indicators are in the software package. The next question is, why do you need all those indicators? Isn't there just one, two or three that are really the right ones? And is your job to try to quote find the right one? Is it possible there isn't a quote right one? Because the market is random, and all it is with indicators or multiple indicators, however you lay it out is an attempt to have a curve fit. And the reason you're doing is because they don't work. So, and I'm not saying they don't work sometimes because everything works sometimes. The problem, as I experienced it in my trading career, was that over time, it was an inconsistent process which created random outcomes. So the thing I found was, if the market is random and it changes its behavior in a day, which it does, then one indicator that might work somewhat in a rotational market gets obliterated in a trending market. So, you know, it's kind of like, how do you drive? It's like having a stick shift and you're driving, what condition is it? Are you going up a hill? Are you on the highway going straight? Is it twisting and turning? What are you doing? And you're trying to chase the market with an indicator that's backwards looking. And this is not a rant or anything. Watch the behavior right back here. You see where we are. Observe. Anyway, and if you think indicators, I haven't worked with indicators, then you should watch my introduction video that is under more in the YouTube channel. And also, if you're new in the Discord chat room and book map, pin to the top of the text channel is my foundation video. So you can understand a little bit about my background, you know, which is beyond indicators. It's system design and development, swing trading, trend following. I mean, back in the Stone Age, we didn't have, we didn't have anything. So I'm just saying is I kind of grew up with the indicators. So we're getting back above here. This is important. So now nothing to do. Okay. So this trade is done. You know, I think it's fine. I'm sorry. It was way where was I forget even where it was. It's been so long. Oh, it was up here somewhere. Is that a good trade? We got to the next level. I do the same thing. This is an obstacle. See the behavior back here? Stop pick exhaustion potential short. So let's look. Remember, these are not rocks. You know, this is not the rocket Gibraltar. This is an area. There's your low volume right outside edge right there. So let's go look to the left. Here stops are here. Where did we go? Oh, this is called a stop pick. So what I do is first of all, remember retail trader behavior. This is the swing. Okay, we come up, we tag it. We come through here. That's fine. We take the stops only 19. Does this look familiar? Does this look familiar? 130 stops. Stop pick 20. Now watch. This is a short. It should be a little more observant. But when I'm trying to give you information, you know, on multiple levels. So it wouldn't make any sense to you if I'm just going to say to you, well, yeah, this is our over under. And then we have the last swing. What's above the last swing? You have to kind of think about these things. Well, stops. If we have all these stops on the way up, and let's open this up a little bit, if and we have 20, that's fine. We're over here. We're over the last swing. And where are we? Low volume area outside edge. The way this tends to work is this. This is called mean reversion. And if you remember yesterday, we were trading mean reversion for the day. Now what you have today is, and this is where the fractal concept comes in. But in addition to that, context. And if you don't understand context, you really need, you really need to think about the term and watch my video and also go online and read about and you could just very simply read about volume profile, market profile and auction market theory. Go to Wikipedia. It's not rocket science and don't over complicate it. Keep it simple. There's enough challenge in the minutia of trading that you don't complicate it obscures what's happening. And actually, you know, you've heard the term paralysis by analysis. And I've been there and done that. And indicators are an attempt to curb fit. For me, again, just me.  It's just that how it since indicators are backwards looking, how can you how can you operate in something like this? Unless you're, you know, and I'm not saying you can't. So but we're anticipating the stop pick and fifties the over under. I remember no precision in the market. For me, the profile is much more precise. This is just behavior, not a wall. This is the outside edge. And the way it works, mean reversion is outside in. Do any of you remember mean reversion? Have you seen this before mean reversion? David, what's hard about context is understanding that if the trend is down, we're going to have counter rotations, right? The market typically is not a bullet train. And what we need is how do we get involved in aligned with the higher timeframe? Remember when I said fractals, what we're trying to do is get aligned. Well, the market rotates, it just doesn't, you know, even if it's going down, you're going to get short squeezes, short covering, you know, shorter timeframe traders. And that's what creates the rotations. And these stops create the rotations. Remember, retail trader behavior, once the market starts reversing, you're going to have retail traders like us hitting the eject button, they're buying at the market. They're also they're buying lifts the market into trailing stops that retail traders like us are using. And they're typically over the near swing highs. That's what was at 3850. So that's why you're seeing the stops.   Just like, remember, where were we getting short hire? Yesterday's low of day, right? Retail trader behavior, what is different? It's the same. Except now I've got this, and I have some structure that's created by the auction. This is volume profile. And let me just show you a little more here. So you can kind of see what's going on with this. Now you're going to look at this and go, what am I looking at? What this is, it's representing volume at price. So instead of looking vertically at time bars, candles, whatever you're looking at, you know, which is just price, this organizes it differently. I can still see price, but I'm seeing the volume at each price. Every time there's a tick, a volume, a buy or a sell, I can see it represented in this bubble. But more important, it adds it all in here. And the volume represents what the participants think of value. In other words, is this the fair price? Well, if we come outside into low volume, then the participants go, yeah, this is too expensive. This is just a bigger consolidation. If we don't come out of this area, then the potential is to come back to the high volume area. This is the same, and this is mean reversion. And then the potential is to come down to the other side. So it's a rotation. So the move up is what we call a counter rotation. And as a trader, my objective is to try to get aligned with this higher timeframe, which is under this important area, right? Which suggests lower because we have targets below. Does everybody see this? Pietro, is this making some sense? How about you guys in YouTube? Does this make sense to you guys? If not ask a question, that's why we're here today. You're here and I'm here. So let's make the most of this, okay? And if this is helpful, if you're getting something from this, please hit the like button over there in YouTube. And if you haven't watched the foundation video, it's under more in the YouTube, wherever more is. And I think it's down below somewhere. And watch that. It's a mini course in what I'm doing here. It'll save you tons of time. And it has examples of trades and all kinds of things in there that I think you might find useful. So here we are back here here. So outside edge, let's look. This is a higher developing timeframe. This is the daily timeframe. All the volume you see up here is today. Now up here, we fell out of this one. Think of it, it's an auction. Remember auction market theory. And what the market did, and I'm just going to take you a little higher so you can see what happened. This was where we were earlier, right? And we rotated, we traded through here. Once we fell out of this, the market is saying, the participants, this is too expensive. Now we're auctioning down here, right? Same process. However, if this is now the fair price in this region, and this is an auction, it moves along and it keeps, you know, it may move lower, continue lower, lower. These are targets that we still have open for potentially for today. Again, we don't know. But this is now the fair price. So when the market rotates to an outside edge and it doesn't leave this auction, then we want to attempt, if it's part of your plan, etc., to sell the outside edge. And that's what mean reversion is, to come back into here. And then, since the trend is down, potentially continue or not, or just stay in here for a while before it potentially releases, or returns back. And I suspect, since we're in a higher timeframe under here, right, that this is next on the hip parade and maybe lower. Let's see what it's doing. I hope that's a decent explanation, and you guys can relate to it. So this is a short. Not a recommendation, right? We're just narrating. Let me get back here. Losing my place again. Wherever it was a short, I forgot. Right. The check of this pop, right? Pick. It was here. Pick. Short. And here's, let me show you again what it looked like. Right? This is, so this was the over-under, right? Pick. Short. Scale. Pull back. I think this was the pick, right? Short. Scale. Comes out. It would take you out. No loss. Pick. Short. Outside edge. You see the thing with mean reversion? And the challenge. I want you to know the challenge with this is where is the real outside edge? It can still probe up into here. And that's what this is. So let's look. Let's look inside. Now, again, this is called day trading. And what it is is trying to get aligned. So this was the outside edge. Did we take it out? I think we just touched it, right? So this was the short, remember? After the initial stop pick. We have the exhaustion short. You'd be scaled. You'd have no risk on this trade. You have another opportunity right here. You'd have no risk on the trade. You see what I'm saying? So that's what our goal number one is. And we're anticipating this, this, and this. Now, I'll write this down. Rotations are random. And we don't know. So let's watch. This is our high of this swing. Does it take it out? Yes. And what is that? That's like a cheap shot. It's a stop pick, right? Again, I'm still in my location. And I'm fiddling around with what? 50. But it was a stop pick. So let's look. Let's look into this right here. Now, if you cannot activate on this, do not be concerned. It takes practice. And I mean serious intentional practice. I have these, they happen. I cannot act on them fast enough in spite of it all. That's just the next one I don't get. It doesn't matter. However, let's look at the structure. 130 stops coming up. We're back above here. And we come out to the outside edge. Here's your exhaustion. See the divergence in the stops. Higher price, less. So exhaustion. Now, no buyers. See it? No buyer. No buyer. So it's very subtle. But now I cannot activate on this. I'm looking for a break and a potential pullback to here. And here's the next thing. If it breaks below this one, I can still operate here. So against this. So this cluster of volume is what I want to lean against. Let's see if we get the opportunity right here. And my risk is above this. It's still within my wheelhouse as far as risk goes. So let's see what happens with this thing. So here pullback, more risk than I, you know, but I can handle it. Why? Trend is down and I have this target. Chop, chop, break here, potential short, against this volume. This is fractal. This is what microstructure looks like. I have this volume, but I stop has to be above here. Because we could come back to this right here. So there's more risk in this trade. And it's up to you. If you have a limit of a three point stop or whatever it is, then this trade wouldn't qualify. Okay. It's up to you. But I have a target. So for me, I'm looking at it from two ends. I'm saying, what's my risk-reward ratio? Is it worth it for a 31-32 target from 50-ish or 48? Can I, should I risk four points for 31, you know, for 10? Yeah, that works. So let's watch. Scale, right? So this is our next area, right? So we have a scale. Did not take this out, right? Comes back here to the micro high volume. Remember that? And I said, you got to be above here. It's another short opportunity right here. And these are things we don't know. Break, pull back, break, pull back, micro. See it? And we're leaning against this. Stop right here. See the alignment? Now I understand you're looking at this for the first time. You're probably going, what is going on? Let's put it back into the pieces together. Outside edge. Stop pick. Thank you for playing. Notice the exhaustion. Short here, short here. Scale, risk neutral. Have no idea for going straight down or what we're going to do. Never do no. This is our outside edge. Pulls back. Where? To the outside edge. If I can, if I'm ready to jump out the window because I'm expecting a stop and believe me, I'm sitting here. I'm going, oh, this trade looks like junk. It's over. I can't begin to tell you how many times I'd be about here and I'd hit the eject button and then the market goes to my target. That was something I had to go, you know, that might not be such a good plan. And that is a triggering behavior that's your fight or flight behavior. You know, this is the saber tooth tiger coming at you in the jungle. Let's get out of here. Well, that doesn't work in trading. In my opinion, in trading, what works is failure of structures, not random noise and rotations. So exhaustion. There's the move down. Delta showing the selling. Pull back. Now I have double structure. I have this. I have this over here to the left. Is everybody with me? And here's what it looks like. That little node right there. There's my high volume. See it? And look at the alignment. So I'll lean against that and my stops over that high. Does anybody have a question? I'm just reading. I'm trying to catch up. Okay. So let's see what's going on here. I got to catch up. Sorry. If this is too much minutiae and it's not useful, please let me know. And if you're kind of taken aback by this, because it looks complex, I'm going to suggest that you kind of relax. And if you haven't seen this before, because I don't know too many traders who do what I do, I mean, I'm sure they're out there. I just haven't met them. This is something different. And the thing that makes it interesting is it's all about the market. It is not about indicators. All we're doing when we're looking at this is seeing who the participant was. It's giving us insight. That's something we don't get, again, with an indicator. I don't need a moving average to tell me the trend is down. I can tell you that. And I certainly don't need something to cross over that's lagging the market, because what's the point of that? At least for me. What I want to do is I want to slice it as close as I can with a smaller risk that I can identify and then look for risk neutrality. Risk neutral gives me the opportunity to go for the next targets. And I think that's a pretty good plan in spite of it. In spite of getting stopped, in spite of getting scaled and stopped and all that, that's just the real world. But I'm in alignment and this was my next target, right? Did we hit it? Let me see. What do we do here? Now, there's more. Oh, we did get it. Okay. Here's the next thing to observe, this, from below. Now what's going on? All right. Not a recommendation. Watch the behavior here. Break, pull back. This is a potential short, but a little behind the eight ball here, so nothing to do. Now, let's look at this. Let's use, let's think in, now Fracto, this is multiple dimensions and multiple time frame, right? I know you're going to go, oh my goodness, my head is spinning. Don't worry about it. This is our next target, by the way. Remember, I said down here, down here and we have more, but this was the next one. Now, this was an artifact left behind from the last time we were down here. The market checked above, right? In the higher time frame, remember what we did? Let's go back. Took out yesterday's low, took out this key area that repelled us yesterday in the ETH session, got below this obstacle, rotated back up to the, I say I'm summarizing here, to the outside edge of the distribution, which was, this is what the market is trading. Remember, auction is, it rotates in an auction. That sets up mean reversion, which is outside in, which is aligned, right, with the trends. So no longs, just selling. We're trying to find that outside edge. That's why we were selling these rotations up into this area, right? We took a few shots at it. I think we had one scratch, maybe two or three shorts up in there. And what happened with those? I think we scratched one and we got targets and we're theoretically got the next target here. And if you have a runner, you're still holding. You see, that's another thing that we would talk about, but not today. That is how you size. But if you're trading a two lot, which is the minimum in my opinion, and you have to vet this idea for yourself, is the job of the first one is to cover your risk. Now you've protected your account. Now along the way, you're going to take your full stop, you know, because that's part of the trading. But if you have a plan and you have vetted the plan, which means you've tested the locations and how you interact and trigger, you will find if you're risking X number of points, whatever it is, you need to be able to see where the obstacle or the counter reaction might take place and scale. Does it fit the risk you're taking to get risk neutral? That's part of a trade plan. And then what is the probability or percentages that you actually get to scale? That creates, if it's let's say 60%, 65%, you get risk neutral. And then it's up to the other one to go on to whatever the potential target is. Or you have a process for trailing and locking in some of it. That is how you create a trade plan. So let's watch. Remember, this is the next target area. So we got our next target, which was from here to there, 30-ish, right? And then we have this down here. Now I would be done here. By done means my trade is done because I trade targets. Just me. And if you're someone who wants to have a runner, you know, kind of like the lottery ticket, then you have a trailing process because we don't know where that counter rotation might take place. Does everybody see what I'm doing? Does it make sense? No, I don't enter with a limit order above the obstacle because I have to see the behavior attack. It's not, I'm not mechanical. I'm, what I am is process within context. And I want to see structures and behaviors. So I never sell the top of anything or buy the bottom of it. I'm always waiting for what I consider something to lean against. In YouTube, how we doing? Is this making sense? When I hear silence, I'm figuring you passed out. So I'm just checking if I should call an ambulance for you guys in YouTube. Notice the change in behavior. You see the green bubbles? What that basically is, that's a delta. That is showing you that the buyers are crossing over. See, that is what delta is. I'm assuming you guys know what delta is, but it's basically who's the aggressor.  You don't get one without the other. So who's the aggressor? The aggressor, aggressor, aggressor. Buyers were aggressive here. Okay. Seller, seller. You notice the rotations are larger on the way down on the sell side. Aggressors and now see the change in behavior. Buyer, buyer, buyer, buyer, buyer. Now here's the thing. Oh, we wanted to watch this, right? We want to watch this. So we want to watch this edge here, low volume node. We want to watch this. Just watch. And if we get up here, then there's here and up here. So this is our outside edge of this. So let's observe. Buyers, buyers. Let's watch. Not a trade recommendation. We are tourists. So we're watching. Nothing to do. We're tourists. Watch the volume right here. See, the thing here is, here's, where's the outside edge? It's up here. We can chop here, break higher. And you've got to look to the left. Stop were here. Stop were here. Stop were here. So now we can just pull back, move higher, or rotate back down. I can't tell you which one. If you're trading very short term, this is a micro structure. But I prefer to get further outside, just one trade. Now you can trade in this, but you have to have your, as they say, your stuff together. Because we're in a micro structure. You see this right here? Outside to outside. This is your outside edge. And this is what the fractal nature of the market is now. See, outside. Does this look familiar? Except this is a shorter timeframe. See it? So I can trade this. This was a short right here. Where's the stops under me? Well, probably here. So I want to trade scale to get risk neutral. That's all I need to do here. And if it comes back up and takes me out, it doesn't matter, does it? Does it? Not to me. Because it's not about being right. It's about location, context, and risk management. After that, whatever happens is a bonus. So that's why, if you got involved, you'd have to be scaled. Again, we may have more outside to go. Mean reversion. Mean watch the behavior here. So how do I put these pieces together? Watch. Exhaustion. Exhaustion. Exhaustion. Not a recommendation. Observe. Alignment and exhaustion. And again, right, you know, it can do anything. So we're observing. Take a screenshot. Now, none of this is anything more than a maybe. Can you see it? Just give me a maybe. Say yes. Say no. Tacky. What do I think about overtrading? I don't know what you mean. Alpha. You guys see the short, by the way. Are you with me? Yeah. Well, Shiza, don't worry about being new. We're all new. It's a new day. We're new. If you find this useful, give me a thumbs up, please. This takes time, but it's really simple. The thing that if you had never looked at the market this way, it's like speaking a foreign language. I get it. And if you come here every day, and I've only been doing this in YouTube, I don't know, a week, it might be a week. So I'll be here every day for you guys, assuming you're interested in it. As long as there's interest, I'll show up. And if it's something that's not interesting or useful, then I won't continue doing it. But I really need to see that it has a material impact and helps traders at least see that there's other tools. And not to do what everybody else does. I find that if you're doing, think of retail traders, what their potential success rate is, there's a lot of reasons for that. I think a lot of it is they don't really understand how the market works.  I don't know what to say about it. Other than you have to find what resonates with you. And the other part of it is something that works. So it's not about a belief. It's you beginning to learn a process that you can relate to. And then you have to create belief in it. Now there is an algo. See that behavior? Algo. Thank you for playing. So that's what you have to do, in my opinion. And if that's of interest to you, then you know, fine. Now that was nasty, wasn't it? Nothing you could do about that. That's the market. It still didn't take out our structure up here. It can though. So we want to watch. This is a change in behavior, isn't it? This is part of trading. Nothing you can do about it. But this is still a good trade. So the trade fails, right, when it comes back over here. So you'd be risk neutral.  And then the other part of the other component that needs to be addressed and write this down is trade management. And that's really a function of your time frame. And someone was just asking about higher time frames, right? What's Bitcoin, Tesla, Dogecoin, Luna bankruptcy? What is that? Is there some news or something? Oh, okay. So you think that's spam? Okay. Okay. All right. So if this is useful, I need a thumbs up in the YouTube. Also, there's a foundation video under more in the YouTube if you haven't watched it. Take a look. It's going to save you a ton of time. And this will make a lot more sense to you. I kind of go into some detail in there as far as and it's simple. If this looks complicated, I'm going to ask you to have some trust. This is not complicated. It's reading sheet music or dancing. And it's learning the steps, learning a process, and then replicating it. And the thing about processes, and this is where I get pretty excited about it, if that's the right term at this point, is because I only need the same process to operate in multiple time frames. So what I'm doing is the same in all time frames. So it doesn't matter. I'm trading inside higher time frames, but because of my risk tolerance, I'm using the micro time frame. And that's what this is right here. This is another short, by the way. So to participate, now I'm an active trader. And the reason the activity is created, watch icebergs are accumulating here. So we're going to keep an eye on what's going on right here. Targets are still open below, by the way. But we don't know. This might be the low of the day might be in. I have no idea. And it doesn't matter to me, because I don't know where the low of the day will be until hindsight. So in the interim, I just take my trades at my locations. My goal number one is to scale, which this short would have a scale. And then I'm back in the game. Because this is random. This behavior, this guy here, what was that? Random. Okay, if it exhausts after it picks the stops, it's the same as any other stop pick.  There's the volume. Here's the short scale. Safe. Now I'm a tourist. What's going to happen next? How about I tell you, I have no idea, because that's the truth. Well, mean reversion, I think, well, first of all, in the Discord, BookBaptist Discord Traders Lab chat, well, that's a mouthful. If you hit the pin, it'll take you to the top. And you'll see my video there, which you should watch. Do that this weekend, because then next week when you come back here, you'll be 75% advanced from where you are now, if you haven't done that. The other thing is there are, I don't want to say handouts, but there's downloads where you will see, I don't know if there's 50 or 100 examples of what I do. So download those things. And they're pinned up there also. So do that. By the way, in YouTube, we don't have that pinned, but there is the video down below under more. Be sure to watch that this weekend, if you find this interesting. It'll advance your education exponentially. So you don't have to, you know, this is, I believe, keep it simple. Notice how the short are working. Notice, and we're just throwing them on here. You could see them, right? Not complicated. Just dancing with the market, except that the market is random. It will take your stops if you're micromanaging. But what are we trading? Does anybody remember? It's called mean reversion outside in, outside in. You see it? So there are no longs. Somebody asked me, what about longs? I think it's Malacura. Hi. I can't imagine a long. We're in a liquidating market south and only south in today's context. In the morning, I was long. It changed. So I turned the steamer around and I go short. And what happens is if something fails, I take a stop. I'm okay with that. That's the price of finding out. But along the way, I was batting on the long side and it was fine until it wasn't. And then it's, okay, what's going on? Huh, something's changing. All right. And I have levels and they were all posted up. They were in here. And once we broke those levels, it's turned the boat around and head south. And then all these targets are now on the table. This one. And when I started this morning, I said, no, and you know, we're going to go and squeeze some more. That's what was my anticipation, short covering into Friday. And that's, and we actually started that way, but then failed. Okay. I mean, see, the thing with me is, I know I don't know, write that down. You know, if you're in trading, it's your opinion is not important. And I really mean my opinion doesn't matter. Opinions don't mean anything. It's the behavior of the participants. That's what counts. And when we recognize their behavior, and sometimes we don't, you know, right away. And that's when things are changing, we don't know, right? Because we're changing what we see. And then when it changes, we have to adjust. Notice the mean reversion outside in with the trend outside. So the question about getting long is no long. But if the trend was up, we'd only be doing it from the other side, we'd be buying, buying, buying the rotations. Joe, if you go to the bookmap website, you can kind of see what is available. There's many more tools that I'm not showing that are available that I use. But for me, the heat map, I without having to be looking at the dome, I can I can look over here and I sure yeah, there's 330, you know, contracts here. But the heat map shows me. Also, it shows me if there's something jumps in front, these are algos. Well, I want to see them come down and pull, you know, but you see how they're bracketing, that's algal behavior. I can't do anything with algal behavior.  And we'll see this behavior, like does this guy come running up, you know, that's going to skew the book and it has an impact. Okay. So, but for me, it's it provides insight. I want to see the behavior. And in the downtrend, of course, I want to see these guys, this getting darker. See how so watch, let's we can watch this behavior. But for me, this is what counts. It's resting liquidity. It's also at a strike price. That's important. Just like we had the 50. Does everybody remember so long ago, when we were targeting the liquidity sitting up at 50, right? Remember, now we took it out. And we rotated up in here, we were shorting here. Now we fell out of this distribution, right? This is an auction. It really this represents a consolidation. So you know what this is? Think what a consolidation is? It's a big chop, chop, chop. And in what a consolidation is, is really an auction. In other words, where's too high? Where's too low? And the market will rotate trying to determine if this is a fair price. This is where the high volume is. So the market's going around around. If this is too high, it'll fall out and then do it down in another location. And that's so we're stair stepping down because the market, the purpose of the market, and this is where market mechanics come in. And this is kind of something that's important to know. The market's trying to find a price that everybody agrees on. What's a fair price in this thing? So that's what the auction is. And that's why auction market theory. If you understand why the market does what it does, you're going to be way ahead of everyone who's just looking at a line crossing over because the line crossing is nothing to do really with what the intent and the function of the market is. In my opinion, an indicator is just a simplistic plug and play solution that doesn't address the context of the market. Again, a personal opinion built on just my personal experience, not necessarily truth for you, but it's my truth and my belief. And it's not because I didn't try because a market profile was not available until around 1985, 86. And that's when I first got involved with it. So until then, I was with the rest of you guys. So indicators and then writing my own indicators. So I went that way because that's what we had available. And I thought, like everyone, and back then there weren't a lot of them. So and over time, oscillators evolved. And now, like I say, open up your software and pick one. And then again, ask yourself, why are there so many? Why did anyone need to make the next one and then the next one and the next one? If you can answer that question, I think you already have. I think you know the answer. So let's observe. Is everybody with me, by the way, hope this makes some sense and it's useful. So Joe, I'm using the global plus the bookmap global plus version. Okay, I'm using the MBO package, which gives me stops and icebergs, rhythmic data, because rhythmic is the only data service provider that actually gives you marked by order. So the orders are actually have a tag on them. And it tells you whether it's a stop, you know, or it's an iceberg. So we can see that 500 stops going off. These guys are not happy. Neither is by 401k. But that's another topic. So, so let's watch the behavior. This is a target, right? This is an outside edge in the highest time frame. That is the same as one of these. That's a low volume node. This is a low volume node. This is our potential target again down here. So we'll see. No idea, right? We know we don't know. So we'll just keep remember this is here. Nice even number, nice strike price, very exciting. Is everybody tracking? Do you see the concept of the auction and what this represents? Because that's what this is. And if you the auction is like going to the supermarket, will he scroll down to where it says more? And I don't know quite where it is, you know, how far down. And if somebody knows where it is there in YouTube, just post so others can find where that video is. I think it says live future streaming with Tom B, you know, how many are watching, how long ago it started, that kind of thing, right? You don't need YouTube premium. It's open to everybody, Braden. So let's get back in the game. So you guys saw the short, right? Look at the structure, chop, chop, chop, break, pull down, micro structure, micro high volume node, watch, break, pull back to the structure here, pull back to the structure south target. Is everybody tracking not complicated, simple, annoying. When you get, yeah, it's work. You want to be a trader? You got to do some work. What am I going to tell you? Volume, volume, volume, volume. Now it's the alignment. It's not in the middle of traffic. It's the alignment outside edge, mean reversion. I'm going to see if I can grab something for you guys and hopefully I don't blow everything up here. Let me try to get this for you. I want to show you this. This is what mean reversion looks like in a cleaner way so you can see it. This is from yesterday. And all it is is there's your outside edge. And the mean reversion is a return to the high volume area. That's all is going on. So chop, chop up into this area. Now this is a Renko bar just because I didn't want to show all the minutia. And it's just, you know, Renko's are just price based bars. But this is what's important. That's the low volume node. So think, there's your auction. You see, too high. And then the nature of it is to come back to the mean. That's why the name mean reversion comes from. Reversion. So if you took this, your target is right here. Then hold for potentially the other, you know, the outside edge, right?  But that this is what it looks like. So I hope this makes sense. Is that helpful? At the moment, I watch other futures besides ES, but for our stream, we're going to stick with the ES because it has enough range. And I think depth. And to me, the depth is very important for trade management. As long as I have rotations, by the way, it could be a pork belly. It doesn't matter. This process works on all markets. I traded NQ for years back in the dot-com bust. I mean, I'm just saying that's all I trade was the NQ. So I'm just saying is you can trade any market, but you have to adjust your trade management to the thinness. So like NQ, it's all the same with the exception that if NQ doesn't have the depth, you mean, you might have 12 contracts sitting here in the NQ. So you have to know that if you get a counter rotation, since there's no depth, and if there's stops, that it could pop. So to me, the NQ has more risk associated with it. So the because the behavior of it, and that's really a function of depth. So, you know, thinness. So, but other than the idiosyncrasies of the market, it is all the same because the auction is the auction. The process is the same. But like anything, you have to vet the market if you want to trade something else. You know, then, but I'm a fan of rotation because to me, what is it about it? We could trade any market as long as it has rotations and depth. But I think the ES is a, you know, for me, I enjoy the ES, you know, because I can manage my risk. And I know that there's enough volume in there that I have a good chance of getting filled, you know, things of that nature. You know, all that's important to me as a trader. So that's my thinking. So watch this, right? So any questions on what a fractal is, multiple timeframe integration, and then what this is mean reversion. What I'm trading is context inside a context, trend day down, ryers are context, shorts only, counter rotations. This is what it looks like outside in. Where's the outside? It's up at these edges.  And I'm perfectly okay with that. However, today, as the total changes, my job is to sell the rotations on these edges. And it happens in all timeframes. It's right in here is the same process, right in here is the same process. This is more micro. This is the chart volume profile. It is showing me the volume in what's on the chart. So I'm basically looking inside of this. So this is higher timeframe. This is the developing daily timeframe. This is the more micro structure. Does that make sense? Amazing tool. And look at our alignment, right? Sure, it's a little noisy. I said if you remember 50, we want to look at that. It's like resistance. Other than the stop pick, which is fine. Towards an outside edge, which is fine. Short. Does everybody see it? Can you see the pieces? This is your whatever doll that is. Are you guys following me? Rainier? I don't suggest you get out of your shorts. This is humor. Don't turn your camera on. Remember, if you're new here, there's a video down there that you can watch that'll save you a huge amount of time to get aligned with what's going on here. And then it's a matter of you guys coming and hanging out. Bookmap is providing this for free. While that's available, I suggest maybe you take advantage of it. If it's something you're interested in. If YouTubers, if this is useful, please hit the like button. Okay. I'm going to try to copy an image. I don't know if I can put an image in YouTube. I'm going to try. Let's see if it works. Nope, it doesn't let me do it. Yeti, is there any way I can copy that image that you just posted up above on Mean Reversion and get it into YouTube Chat? Because I'm not familiar with YouTube. Oh, okay. Oh, thank you, Matt. That's very appreciative. Thank you. While we're still on the shorts, meanwhile, asleep at the switch, let's get back. I read the chat and it kind of takes me out of the flow. By the way, here's something I do. When I'm streaming, I'm not a great multitasker, so I kind of lose my focus because I'm looking at different computer, different screens and different locations to read the chat. And there is a delay in YouTube. It just all takes me out of the flow. But here's what I do to stay in the flow. And it goes like this. And write this down. If this, then that. If not, then what. And it keeps me in the flow. So if we get below here in this low volume node, if this, and I get up here and I short it, then what? Then back here. If not, then what? Then potentially up here. Change in context in a short timeframe. So as long as I'm trending, I am going to be selling. So if this, right? Short. Where's our short from? Let me get back here. Falling asleep at the switch. Here's volume. See, it was up at 50. Now I can dance with this and all of these consolidations if I choose or not. And now let's go into more micro time frame. Okay, I think that's where I'm trying to go with this. See this little high volume node right here? That's micro. You see this low volume node? That's the outside edge. So it's a compilation of behavior. So this is my behavior. So I'm looking in here. Now here pops. Now if I took a short here, I will get a scale and get stopped out, right? And I have no problem with that other than uttering some words at my, you know, and my broker sends me the gift basket. It comes back again. Look, here let's go into this one because this is trading. This is the real world. There's no ideal. If you want to be a trader, you have to accept random behavior in the market. There's no knowing. There's only maybe.  I'm just telling you the real world, you know, because we all want nice and neat and pretty and like a little box with a bowl on it and clear. It's all nebulous until you're right or wrong because they all look the same. They all look the same. So here's volume in here. There's volume up here volume. So this is the areas I'm referencing. Okay, outside edge. Remember mean reversion, right? Outside in trend is down. I'm trying to get aligned for continuation. And again, I have no idea if I take this, this is my short against this volume. See the micro volume right up here. So this area aligned with this, I'm using this volume to sell right here, short stop above here, scale, get risk neutral. Now I'm hanging out. I'm going, okay, here we go. Come on. Right? Outside edge. Boom. What happens? Stopped. Scratched. See, that's why a minimum for me too lot. And I can tell you, I usually have more back again to the outside edge. This is the challenge. What mean reversion? You'll get popped because this is a low now a low volume. So you know what it is? What creates it? The market didn't trade in there. It ran through it. So the market and if you accept the concept of auction market theory, that is the market wants to check, you know, is this too high? Well, it may come back up and check it. And since it didn't trade in their stops, think of it as a consolidation. A consolidation has buyers and sellers on both sides, right? Buyers in the bottom, sellers on the top. And what's on each side stops, okay? So we can come up into these outside edges. And we want to sell the outside edge, but we don't really know how far. And we don't know if we'll come up, rotate, and then come up again, pop, and then come back in. That's the nature of mean reversion. So, you know, life in the fast lane. So here we are again. I'm out, scratched. What do I have? High volume outside edge. So this is I'm still looking to get short. Why? The trend is down. I'm looking for south of the border. So let's see. Real world of trading. Here's your volume. Break pullback to here in the microstructure. So I'm leaning against all this volume. You see it?  Thanks for playing. Chop, chop, chop. Break. Now once I see the break in the pullback, this is a short stops over here. Same trade, just a slightly different location. Remember, mean reversion, you are probing for location and you will take stops unless you want to put your stop way outside. That's subject to your plan. I'm kind of a fan of using a tight stop because my psychology is I'm risk adverse because I want to take shots on goal. I don't want to risk five, six points on a trade that I only have to risk two or three on. So I'm going to probe the goal being to get the scale. And based on the rotations we're seeing in the ES currently, I have a real good shot at getting at least the scale to cover my risk because of the nature of the rotations. Does that make sense? Donald is asking where that intro video is. Maybe I can throw the link in there. I'm going to try to do this without blowing everything up, guys. Here it is. Copy a link. Here, I'm going to put it in here. Okay. Let me know if that link works. And by the way, for downloads, you guys in YouTube, my Twitter account, all that stuff is sitting up there, but you do have to download it. It's worth it. It's going to save you months, if not years. That's just my opinion, of course. So I'm going to put that in here, Twitter. So there's all the information for you guys. Okay. There's a little bio about me also into the more. Okay. Trader Tay, I don't move my stop away because my first job is not to be right. It's to manage the risk. So it's not, for me, there is no way to know anything. See, mentally, I put myself in a place of, I know, I don't know. It releases me from the need to be right. If you're moving your stop away, that is really more a fight or flight response, the need to be right, the need to make dollars, all of that, which has no place in my opinion in trading. Absolutely doesn't belong in trading. That is not trading. Moving your stop away, unless it's part of your plan, which is fine, for me, why move the stop? You see, you have to answer the question why. And we don't think, I want you to know, we are wired to, for risk aversion, the need to be right to get approval from the market or significant others in our life so we can tell them how smart we are. I mean, and this is not a criticism. This is the real world. However, we bring all those, that baggage, if you will, to trading. But trading is its own thing. Trading is its own world with its own behaviors. And what we tend to do is try to fit trading into our world, our beliefs, our experience, and our emotional wiring, our wiring, which is fight and flight and all that. Well, trading doesn't work that way. So we have to learn new behavior. And not only that, we need to understand the behaviors that conflict with what it takes to be a successful trader. And we're not aware of that. Nobody tells us these things. You only find out by really introspection and time. When your hand grabs the mouse and you move your stop when you're not supposed to per your plan, that is your, I think it's called the limbic system. You know, you're wiring.   And then your need to be right and get approval is another component. By the way, and we're all subject to this, it doesn't go away.  And then unconsciously, we can respond to them without intention. Well, that has to be managed. The way you manage it is you need to recognize it. Once you recognize it, you have to short circuit it. And it's not by saying to yourself, I'm not going to feel it. It's recognizing it and then putting it aside. Acknowledging it, say, yeah, I understand. Yeah, you're trying to keep me from getting run over. But guess what?  I'm intentionally in the market and I'm taking risk. I'm managing my risk. And I'm just going to let the trade work because they're all random. I hope that's useful. And I hope that makes sense. Whoops. Let me see if I can get back here. So I hope you guys find this useful. Well, we close early if we don't have a plan. We all do that. Everybody does everything. Whatever you do, everybody does. The thing is, what are you going to do about it? We all come from the same place. We're all wired basically the same way, unless you're one of those individuals who seeks risk. You know, but I think most of us are somewhat risk adverse to a certain extent and we're attached to money.  Right. All that stuff. Well, that's what works out there. It doesn't work in trading. So we have to learn new behaviors that specifically apply to trading. And that's why you need a trade plan that articulates specifically what you're going to do. And you are accountable to your trade plan. We have no control over this. So what do we have control over? It's our behavior, not the market, not the fact that the market's coming up right here. Why is it coming up there? Why did it come up over here? Why did it come up over here? Now, I think I can guess why it did, but why didn't it just keep going down to this level and now come up? The answer is it's random. So if you're in a random environment, in my opinion, you have to accept it. And then you need a plan to operate in it, accepting that you don't have control over any rotation and that, yes, your stops will get taken out, you'll get taken out, you'll get one ticked out on your stop, or you'll get your scale will be one ticked and it'll be unable. Happens to me all the time. And it's just part of trading, you know. And I mean, don't enjoy it. I mean, I have responses emotionally. But if you have a career in trading, and it might be hard to imagine, but tens and tens and tens of thousands of trades, then those events become just little insignificant data points. And we're always looking to get better. I'm looking to get better. I'm looking, I'm always looking to improve. But and that's always going to be the way it is for me and probably anybody else who does this. You know, you never reach a point of, oh, I'm fine. You know, it's like, what can I enter a little bit better? Can I shave a tick or two off? Think about a thousand trades where you're getting a couple ticks better per trade, two ticks. Do you think that makes a difference? It's things like that. Nuance. But basically, your accountability is to your plan, not to that rotation. Now, we look at the volume and we want to see the behavior here. We're pretty low. We're under key locations.  We still have liquidity sitting over here. Nice even number. There's a chance we get there or not. See the buy icebergs. See the buy icebergs. That's something too. We may be done. And I'm not saying we are. I'm saying, I don't know. I stay in the, I know, I don't know. But I can tell you also, based on everything I've done today, and we've shared even in the brief time we've been together, if I'm done for the day, let me ask you, should I have a problem with that? I will still trade as long as the opportunity presents itself. Let's look at the auction. This is our last distribution. What are we doing? Are we going to leave it? So this is our high volume note of this one. At the moment, this is coming up into the stops. And now we have to look for the squeeze. Is everybody tracking? Here's something else to write down. Lunchtime, which I'm in Chicago, so roughly it's 1230 central, 130 eastern, which is lunch. The volume tends to drift lower. And we tend to see counter rotations and squeezes when there's less volume. Algos have an easier time of playing. And remember, if we know where the stops pile up, they know where the stops pile up. Does that make sense? Serve the behavior. This is how I look at this. I look at the consolidation and the volume in the consolidation. Because that's the last auction. And we failed. We can come back and check it. Now remember, stops are above these swings, too. There's two sides, two edges to the coin, as they say. But this volume, this is what an auction does. Hold on one moment. Sorry, needed a drink of water. Takes a bit to be chattering for this amount of time. That was a short, hold on. And do you see why? Now, again, not a trade recommendation. This is an auction. Chop, chop, chop. So in other words, it's like a shopper. Too low, too high. What does a shopper do? It goes on sale, they buy. Hold on, I got it. You know what it is, we have landscapers running around and they're kind of noisy. Sorry about that. Okay, so it's an auction. Chop, chop, chop. If you went to the store and you perceived something on sale, you would buy it. Right? That's the auction. If you think the price is too high, you would not pay for it. Then the manufacturer, the seller, would lower the price to attract the buyer. Oh, it's on sale. I like that. Well, it was too high here. Now the buyers aren't willing to pay for it. The volume of this auction took place right here. Let me show you. Again, microstructure. Now these are not trade recommendations. I want you to be able to read the structure. Volume was there up here and volume is here. Outside edge was out here. Okay, you can kind of see the behavior. When we break out of it, and this is a distribution or balance area. When you break out, this creates the low volume node. It's not auction. The chop, chop, chop is an auction. When it breaks away, that creates these spaces and that's what you see right in here. If we break below and come back and we don't take it out, then we have the potential for lower. You can kind of see the sequence. This leaves the high volume behind, which is there. And in this one, it's over here, and there's your low volume edge that separates them. Okay?  So let's look at the behavior. So this trade would be done. And it doesn't matter, does it? So two ways to play this. You're sequentially, now the next area to look at, if we get above here, and we certainly can, right? See, stops are trailing behind. So that's what creates the fuel. If we get up in here, then the next area to observe is going to be this node up here. And again, caveat, lunchtime. So let's watch the behavior. This is important to observe. Also important to remember is we're outside of this distribution. So now it's mean reversion around this thing, leaning against this volume and this micro node here. I hope it's not too complicated, and it makes you nauseous. I'm sorry if it does. But here's the volume. Here's the retracement. Here's the node. Does everybody see what I'm doing here? Here's the volume, right? There. Here's the low volume node out here. This is my area for mean reversion. Now it gets a little testy, but let's watch. Too high, breakdown, volume is here, short, helmet. Now you're looking to scale. Okay? So let's see what it does. Got it? Is everybody with me? Can you see it? Tom, do you see the mean reversion that I'm talking about there? Yeah, avid, the other, yeah, we only have capacity for 100 in Discord. You guys should go to the YouTube, go over to YouTube. I will try to put the link in here, and I hope I don't blow everything up. It's kind of difficult for me to be doing that. The link is in the text channel, if you guys can't get in. Yeah, lag, it's 15 second lag. This is not a trade calling room, you know. So the lag is not material. If you're new, by the way, there's an introductory video that'll save you a lot of time. It's in YouTube, it says live future streaming with Tom B. Click on the more, and you'll see it in my bio at the end of it. It says about Tom B. and then you'll see a link in there. That'll save you months. Also, in the same thing in the Discord chat room where the pin is, that'll take you to the top, and you'll see my introductory video plus downloads of examples of setups, structures, and elements. And again, it'll save you months. If this is something you're interested in, like everything, it's different. It's probably foreign, but it is something that you may want to learn about. This is about market mechanics and simple. We all think you've got to have complexity to be a trader. What you need is a trade plan and an understanding of market behavior and the ability to locate areas to interact with the market that fits a trade plan that involves the key element being risk management first and then it's trade management, structure, targets, and the rest. And all of this you can acquire through an understanding that's built around auction market theory. And then the tool that represents the behavior of the auction is the volume profile. And I lean on the volume because the volume is the truth of the behavior at price, not a bar, not a candle, not an indicator in my opinion. And this is just based on my personal experience, which if you think you've tried it, I've probably tried it too. If you've done it, I've probably done it. I haven't done everything, but I will say I've forgotten more than I remember. Many dead ends, many dark alleys, years spent trying to get something to fit that doesn't fit the market. So just saying it's not that I haven't tried. And the worst part of it is at times having things work, but not understanding the nature of randomness like I do today and accepting it. I came more from a place of needing to know and certainty, where in trading, there's nothing certain except uncertainty, you say, write that down. So if you can accept you are in a random environment, now here's an example. Why didn't we get to this liquidity? Can you tell me? I don't think you can. Well, there's a big iceberg. So why didn't, and how many times have we seen icebergs buying and we still go lower? So why was this one different or that one or that one? You see random. So where are we going to go? Lunch, potential squeeze. Let's put the pieces together. We're outside of this distribution. Still at a downtrend, counter rotation. Algos love lunchtime. Outside edge. Where are the stops? Above here. Think like a retail trader. Don't act like one. We have a couple possibilities. Pop to this outside edge, rotate or pop out and come back and start working our way up to the next layer, which is up here. We know that already, don't we? So we can operate in this if we know it. We also know we get more vulnerable as we get closer to these edges. This is a potential short, right? However, you know, not a recommendation naturally because we don't do that.  So let's observe the behavior. Now, the idea of the fractals, by the way, for me was really just a way to kind of get in with minimal risk because I'm seeing this behavior that we're looking at here takes place in all timeframes. So even in the higher timeframes, you'll see the same structures.  Now, remember low volume area, what's above it stops. What created it? This. It's low volume because it didn't auction. This creates the high volume, the chop, chop, chop, right? When you have the low volume, it's not auctioned. That's why we tend to come back into them because they're outside edges. In other words, stops are above here. Now, when we take the stops and we come up into this, I want to observe the behavior because we might be a fade from being in reversion. But again, make note and take note time of day. So let's just be tourists. Okay. Remember, what do we have? This. We're above here. This is the next layer up to observe in a higher time frame. So let's just be tourists. Let's see if we can see that by, sorry, that's a cell iceberg that has some meat on the bone. Now, I don't initiate off of these. I observe the behavior. Where am I? I'm in an outside edge. So I want to be very careful, right? Let's go zoom in a little bit, see where our volume is. Where did we go? Squeeze atria, right? Outside edge. Isn't that what we were thinking? Right? Okay. Now let's observe. Notice the delta, the selling. This is a micro auction, not a recommendation. We're just looking. We could do anything. Right? Watch the behavior. Watch the exhaustion. We have to see. Now, we don't know. I'm in no hurry. I'm just want to, we're tourists, right? We're just watching structure. We're going to watch for it to work and we're going to watch for it to fail. That's all this is. I have alignment, right? See the alignment. Let's watch. Is everybody with me? Is this useful? What's job? Job number one, scale. Now, look, here's what can happen over here. This is mean reversion. We may only rotate in this little thing right here. You see, it's possible we come back here and leave this or come back here. So think about how you might target your trade. Scale, right? Job number one, risk neutral. Then what? Here and potentially here. Let's see. This is mean reversion. Is everybody following me? Is this useful? So let's watch the behavior. So this is the target. This. And it can do anything. Remember, it could come to one of these outside edges and come all the way back. Trend is down. For me, selling only. Just think about army. We have the longs in full galloping retreat. We have the sellers using counter rotations to sell into. We have retail trader buy stops as the fuel for the counter rotations. Basically, this is how I see it. So then, if we have fuel for counter rotations and if you look at, it's like a battle and the army that's advancing is the sellers. If you're long, let's look at it this way. Are you praying for a counter rotation to sell? Does that put a lid on things? Do you want to be a seller or a buyer? Counter rotations are counter attacks. That's when they say, let's send a hundred guys in here to give us some time to retreat. Is that what a counter attack is? Assuming they don't push the sellers back. It's just a counter attack. I always think of it from two sides. I think, okay, who wants to get out of their longs? Does anybody really want to buy? Well, other than squeezes and short covering, what else is there? Down trend? Sell until it changes. At least that's how I see it. I'm not someone in this context who would go long. If the Federal Reserve wrote me a check and said, go for it, I would put it in the bank and I'd use it to sell more. Why? Context, trend down. Counter rotations, opportunities to get aligned with the trend. Is that logical? You see the short. This is pretty much what trading is, at least for me. I can tell you, if it was up to me, I would do less trades, but I don't control the rotation. The participants and the behavior, the ebb and flow, the market and the rotations are random. I just want to try to stay aligned. If I take 50 trades in a day, it's not because I want to. It's because the market tells me to and I'm just aligning. When we had less rotations, when I was trading the ES, I don't know when it was 2015, 2012. I can't remember one of those years. We had 6.8 point rotations for the day. It was a big move. I was running six tick stops in that kind of lack of volatility, but I'm giving you the perspective. It was the same process. I was using a shoehorn and a scalpel, but my range was much tighter and my risk was much less. It's all proportional. Nothing was different. Just my opportunity was much less. If I made $200 on a contract, it was like whoopee. Then it's a matter of statistics. It's all about the probabilities. If you have low volatility, for me at least, it's then the expectancy. What is my probability of getting a six tick scale? You see what I'm saying? If the rotations are maybe three points or something, what is my probability of a six tick scale? What is my probability of getting four point profit or five, whatever it is? Six. Well, it's all the same mathematically. Then it's a matter of just putting contracts on because you're trading the probability. I hope that's logical. Does that make some sense? Got to take a sip of water. The mean reversion is outside in and you can do it at any fractal. I lean against this higher time frame. This is the developing daily time frame, but observe what's going on. We left this behind, right? We're now on the outside edge up here. If we keep going up, then we might be done for now. I have no idea. I'm still a seller. Now, this behavior currently is outside in, but look at this trade we talked about, right? Trend is down. Shorts are getting squeezed. We're seeing profit taking and see the stops going off. That's by stops. That tells me that there's a squeeze. When there's exhaustion, you'll see, by the way, algo behavior, remember? I said, lunchtime, easy pickings, they know where the stops are. This is showing the potential to push the market up. This is what insight, this heat map gives you this insight. Now they're pulled. Let's watch what happens from here. Maybe we fall down under it, or do they put it under here? See? See how we reacted? This is something you can see with the heat map. Do we hold this level now, or do we fall under it? Because the thing we don't know is, when these guys came in the book, they didn't trade, but you see how the book responded? Now, look, here's more. See the book responds. I can't do anything with this because look, their computer, I mean, these guys, it might be these guys trying to push into the stops. Remember, retail trader behavior, if you were running an algo, if I was running an algo, I'd be using the same behavior I use when I trade, and that is, use retail trader behaviors and asset because they're predictable. Just saying. I'm forgetting the point I was going to make because I'm delirious. I was trading all morning. So let's see. Oh yeah, lunchtime. This is typically when we see counter trend behavior. So I'm going to take a look. I think the question was, do I about mean reversion? Okay, the mean reversion is pretty much the SVP, and all I'm doing is looking at the, these are distributions. In other words, this was created by consolidation, you know, in all type frames. So this one is a consolidation, this one, this one inside of a bigger one, you see the fractal aspect, then I'm using this little thing for the same process in this smaller type frame. This is fractal. So this is a short, sorry. Now it may only come to here. But here's the thing about this, risk neutral. Now I don't think this is a good play only because time of day, and I'm seeing a squeeze, but I also see some exhaustion. I can trade this. I'm not saying anybody else should, but I could. But I want to see more squeeze. See now the advantage for me is to get more shorts taken out. Because if you're holding longs, what are you looking forward to do? Wouldn't it be sell? Matt, central standard time 12 to 1 ish. Eastern standard, same thing, 1 to 2. It's just when the behavior, it's a volume based thing. And it's really that it's easy for the algos to move the market. And they know where the swings are, they know where the stops are. So they're doing the same thing I do when I trade. They want to use that behavior. Here's the next layer up here, consolidation. There's going to be stops up here. This is the alignment. Remember our friend at 50. And here's the low volume outside edge. This is now a big multi, see this, all this stuff, this is in a larger structure. So I'm still going to be looking for the short. So I'm going to be probing. And I'll get counter rotations along the way. I don't know if it's worth it, you know, to mess around with it. But you know, this is up to you. See, the thing for me is I can trade these with no problem.  That's always a problem, but that's part of trading. By the way, how do you guys look at losses? Remember, I said this is a short. Now, what is it? It could just be from here to here or here to here to get scaled. I'm probing. I'm pretty confident that I can do that. Now, I'm not saying anybody should do it. Because we may only get, you know, but look at the rotation, 35, you know, 45 point rotations, you could be just doing this all day, trying to get a line for a bigger swing. It's, you know, you could be, I'm not saying this is a plan, I'm just giving you a sense. You could be selling, you could be getting your five points, scaling, holding, what is it? If you think we're going to be going up, then you can just be like a sniper, or you're waiting for the bigger move. And this is a function of your timeframe and your comfort. And you could be looking back for theirs. Which is it? And you're, if you say, I don't know, then it's going to be, well, then you need a trade plan. For me, I traded multiple time frames. So I can look at this and go, okay, you know, I can check, I can sell this here, but I have to get scaled because that's my first job. If I think I want this as a target, well, I got to get scaled up here because we may keep squeezing, because my next layer of protection is all the way up here. And again, remember this, right? So, so we are kind of trying to find this outside edge. Well, this is pretty outside edge right here, right? Low volume node, mean reversion. So I'm probing, and that's the thing that's a lot of work with mean reversion. I'm always, it's like, what's my line? There was an old show, what's my line? And some, there'd be two imposters.  And they would all, the two imposters, they'd all ask questions. The panel would ask questions. You know, let's say the person was a physicist. And there might be a 14 year old kid sitting there.   And, and then they'd pick out who the real one was. Well, you know, and that was the game. So the thing is, where is the real outside edge? I don't know. My job, if I accept that I will trade mean reversion aligned with the trend is to attempt to probe for the edge. Because I don't know where it is. And that's just the way it is. And this is trading. The thing that we've done here is the context. I am trading inside of a higher time frame, which is a trend, a downtrend day, right? So if I know that, then I am looking outside in mean reversion. Does that make sense? Which one was it? Was it this one? Was it this one? You see, that I don't know. That's why risk neutral. That's why risk neutral. That's why risk neutral. Are you guys with me? And again, it doesn't have to do anything. So for me, it's about the risk. I still have this up here. So we'll see. Is everybody with me? One of our members in the Traders Lab in the Discord chatroom at Bookmap just wrote in there, your mission, if you choose to accept it, is to find the outside edge and get risk neutral. Absolutely. By the way, the value area, Peter Graves, there is no value in a trend day. So there is no value area that's valid. So just so you're aware. But because the market has no value. I mean, look at this thing. It doesn't know anything. I mean, value is acceptance. What we have is multiple distributions going down where the market is auctioned and then left it. So you can look at that. But the developing value area low is not in this configuration. Trend day, there's no value. We had value yesterday because we had a value area that was valid in the market traded around and created a belly. This is the distribution. And at the moment, you could call this the accepted price. And this is where we are trading this outside edges. Again, where's that outside edge? So that's why this is a short. These are shorts. And let's look at this one. Now, there's a couple of ways you can do this. See the volume? Let's look. I'm going to open this up again. Let's look in the micromanusia microstructure. I want you to see it. And what you need to do to learn this is practice. You need software that shows, you know, I'm going to suggest you use volume profile because you won't see this unless you can look inside it. You see, you need to see the volume to be able to use this kind of process. So where is the volume? Let's go look. So I don't know. But here's what I know outside edge. I'm looking for this, right? And I don't know where it is. I accept that. That's the challenge with mean reversion. So let's look. Now we're looking. Come on. I'm going to open it up. So I'm not doing this. I'm trying to find where's this edge. And I know it's out here somewhere unless we leave this whole thing behind. But I don't know where it is. So I accept I don't know. Now this was okay right here, right? If you sold it here, you would have got a scale and got taken out. That's part of trading for me. I'm still looking for the outside edge. Here, 53 stops here, 14 stops. Now I have stopped divergence, okay? That's the first thing I'm looking for.  That's a maybe. But it's not material. But I observe it. It's important. Here's chop, break, chop, chop, break up, break down. This is now my structure. Here's my exhaustion. This is why I'm a big fan of the stop iceberg detector because I retail trader behavior, right? Remember low volume outside edge. So I'm kind of got alignment now. Now I'm looking for the short. So here, here, here. These are all potential shorts. Your risk is here, here. This here. I'm just saying. So you'd be shortened here, in here, in here. Stop has to be up here. Where are we trying to go? The other side. So let's see. Let's see what it does. 900 icebergs. Back to the outside edge. Takes the stops out. 900, 600 up here. I still don't have a problem with it. And I'm still looking at the short. Do I have a location? Let's see. Watch the behavior. This is your high volume up in here. See it? This. Break.  So we have a lot of volatility. Break, pull back. Here's your high volume right there. So that's, I can lean on that, but my risk is up to here. It's not terrible. It's up to you if it fits your trade plan. See, this is volatility, guys. Nothing you can do about it or not trade it. If these risk. And remember, what was the target? 22. Well, here's where it gets a little mad, then. You say, which one is the right one? But the auction process that we can see how it does it, if it does it, random. I hope this is helpful. I am not muted. Somebody is asking me. Frick, not muted. So what we are really trading at the moment is just this area of the whole enchilada. Here, let's look at it. And remember, it can do anything. This is the distribution at the moment. See it? It's rotation. This is mean reversion. So in a downtrend, for me, it's only selling, right? I'm certainly not a buyer. I mean, it could do anything. And if someone wants to buy, that's fine. I mean, I'm okay with that. It has nothing to do with me. And at some point, there could be a short squeeze. It's Friday. Now, there's another trade we got to remember, guys. It's called the closing swing trade. So that is on the table today. So we just have to remember that. Matt, you didn't need to delete your message. The answer is yes. It's not a recommendation, but until something materially changes, to me, it's a sell short only. But again, that's just me. These are shorts for me. This is sell. There's your pullback to the volume. You can see it right there. Sell volume here. Sell. Yes. Is that answer your question, Matt? Well, if you watch my video, which is there's a link in here for it. Yeah, Matt, you're good. Just put it in there. We're all good. This is a trader lab, believe me. We're all trying to sort everything out. We all work together. It's a collective. And of course, I forgot what I was going to say, but that's besides the point. Oh, there's the closing swing trade. It is a specially trade. It's a special team, like the special teams, like bringing the kicking team on the field, one play. If you watch the video, you will see it because I show it. Also, if you download my handouts, I used to call them from my Twitter account if you're on YouTube. It's at, not YouTube, I'm sorry, Twitter, at TomBee underscore trades on Twitter. There's a whole mess of stuff I posted over the year, last year, actually, that really explains with detail a lot of this behavior. And it's the same things I'm doing. It doesn't go into the micro structure because I really can't, I mean, on those static representations, but there are things you can study. And you'll learn a lot and save a lot of time. Also, the video that's under more in YouTube is really a mini course on auction market theory and volume profile and potential behaviors. So that'll save you a lot of time too. One thing we do is we all spend a lot of time trying to figure out trading. I don't think you need to waste all that time. Unless, of course, you've already got the answer. And then, of course, you are wasting your time. But if you're not a profitable trader, or it just seems chaotic, which by the way, it is. But if you can actually organize what appears to be random behavior into a process and a trade plan, and then you can dance with it, just like you're seeing what I'm doing here. This is what I do. And I'm not saying anybody should do it. But I kind of think it accomplishes the objective. And I can do this in all time frames. The thing that for me is I'm in this time, the microstructures because of my risk management posture, I have no reason in my mind to risk more than a couple of points on any trade. It allows me to trade multiple contracts because I'm not risking 10 points per contract. I am not an investor. I am a trader. I have a different mindset. And then how often I trade is a function of the opportunity that the market presents, not me. It's a matter of a trade plan. And when the market offers an opportunity that fits my plan, my job is to execute it. That's it. What happens after that is statistics. It's just like my casino analogy. Blackjack, let's say the casino makes 6% net at the end of the year. In between, players are going to come in, leave a suitcase of $100,000, others are going to walk out with a suitcase of 100,000. When the guy walks out with 100,000, the casino doesn't change the game. They might just give you a slightly bigger ribeye at the buffet.  However they can keep you there or get you there because of that 6%. So it's pushing the dollars through the mechanism and it's based on probabilities. Trading is the same process. Pushing the sausage through the sausage machine or pushing the dollars through the probabilities. And that's why if you have a vetted trade plan, you understand the probabilities, then it's just your job is to execute the plan and get those tourists in the casino because you work on a 6% net yield to pick a number. I'm just saying is it isn't any one iteration of data. It's the compilation of a random distribution of rotations and outcomes. That's the trading business. I hope this makes sense. You guys do see this short, right? From 40. What part of this doesn't work at the moment? Quantum, you can just go to the top of the Discord chat, hit the pin. It'll take you up to the top and you can download all those examples that are up on my Twitter. The icebergs, I think for me the icebergs, I'm getting a question about how to determine what's going on with these icebergs. I really don't know what other than are they covering or are they initiating? Well in the downtrend, if I'm looking to sell and I see 900 icebergs, that gets my attention.  It is the reaction. It's the same as the behavior with liquidity. What is the reaction? You see how this worked by the way? 676 by stops went off. 900 icebergs took the other side of their trade. That's insight right there. Now I have my structure, chop, chop, chop, micro high volume. There's my break out of the volume. This is an auction break. Too expensive. Test from below. See? Short. Back to this volume. Right here. Short. Or you're just hanging out from here. This is up to you because this is the outside edge of this. We were going outside edge, main reversion, around to here. You could be done. It's up to you. For me, I trade structures. I trade with targets. I do also have runners, and the runners I manage differently. I always think of the runner like what they call it, the Hail Mary pass because I have nothing really depending. If I have targets, like if I have runners and I have something like this, then I'm good. If I have something like this, then I'm good. Something like this, then I'm good. But once I'm down below here, then I've got to look lower, and I might be out in the yo zone somewhere. 3800 is the next one, I think. Yeah. See this? And this might be, we might be done. The low might be in for the day. That part doesn't bother me because I can do quite nicely in 20 point rotations if that's what the market is offering. Does that make sense? If there's an E, it's an executed iceberg. So that's what you got here. This is material. So this is your iceberg sitting here. That's liquidity was this guy, probably. The buy stops, see this explosion up? That's the buy stops. They took the other side. They sold into them. Thanks for playing. That's an exhaustive move. Now again, and where is it? It's out towards my outside edge. I don't know, which, you know, I don't know. So anybody who tells you they know, I think they're a fiver. Because I think the trade successfully, you must keep your mind in the, I know, I don't know. So you're open to change. And then there's the narration, right? Remember, if this, then that, if not, then what? If we get to a previous area and we get through it, if not, then what? Then up to the next area. Then what? Boom, bang. And then what? Chop, chop, chop, auction break, microstructure, excess. Notice there's nothing going on here. Two stops going off. So that was excess. And there's the guys on the other side. Pullback, price check. Short. Okay. Now what do we got here? Let me look again here. I don't even know what we got over here. Look, let's isolate this one, this structure right here. Now I know this is, you know, you guys might find this. I don't know how you find it really. But it's just a matter of, if you can't read it, you wait for the next bus. Anybody here ever ride a bus, ever get on the wrong one? Well, wait for your bus. It doesn't matter. Here it is. Watch. Chop, chop, break. Now I'm looking for the pullback. If you got short here, your stop is here. Above here, right above here. I don't know if you got stopped out or not, but look at the exhaustion. Let's say I got one ticked and it happens to me. Other than some choice words, I see this, bang. I'm short again. I just deal with it because this is what I'm going for. You see? It's just the way it is. Does that make sense? High volume now is over here. This is high volume over here. See structure. That's against this high volume over here. See the alignment. High volume, break below, test from below. High volume, short, scale, helmet. Over and over and over and over and over. If that's how you want to trade, I am risk adverse. This is how I have chosen to trade. If I want to operate in a higher time frame, I'd be looking to get out here and hold. Remember, I said 2022 was the target from up here, so that was achieved. Now if we get under this, we can trade this and come back up or go south. I think south is on the hit parade, but I have no idea. That's why this is my next target. Does that make sense? I'm trading mean reversion. I do suggest you guys think about the idea of not trading one lots because then it really psychologically, I think potentially hampered because you're not risk neutral. It really changes psychology when you can sit risk neutral. Then you're not impulsing because you're going to be triggered psychologically, mentally, all over the place. Fight and flight and moving your stop and bailing out at the first counter rotation. You'll lose your mind unless you've got ice water in your veins and you maybe had a lobotomy and you don't have any emotional responses. Those fears and those things are triggering mechanisms. For me to alleviate them, I'd scale. That's how I manage it. It manages the risk, but it manages my emotional state too. I still get annoyed if I get stopped out after having open trade equity, but it's better to get stopped out at a scratch than it is to take a loss if you can manage that. It just protects your account. That's the first job, I believe, of a trader is to protect yourself because that ensures that you have the opportunity to still be here. Does that make sense? Yeah, please no mems or anything else in the stream. It just takes up space and it's just, appreciate if you don't post those. Yeah, thanks for removing that. Appreciate it. Yeah, the casino analogy I think is pretty good and so is the army one, the counter attacks, counter rotations. Now, under different conditions, I trade both sides of the market. I don't, it doesn't matter. I mean, I have set up specifically for different contexts. In this context, for me, there's only one in that short. So I can't buy it. I just can't do it because I don't want to join the army that's retreating. I don't want to be when they say, hey, take 10 guys that go up there and delay so the rest of us can retreat. Right? No, I don't want to be that guy. So that's how I view it, not specifically, but think of it that way. Counter rotations are being sold by everybody who wants to bail out, right? See, so think about it.  See? It's no different than the army that's retreating who sends some guys in, you know, grist for the mill to buy time for the retreat. Same, same concept. I apologize if it's crude, but you need to think about what's happening here. That's what a counter rotation is in a downtrend. So what do you do? Well, if I'm the advancing army and I get, and there's a counter attack and I pull back a little bit from the counter attack, once they're exhausted and they're picked off, I'm now advancing. That's what this is. That's why I'm looking at these counter rotations as opportunities to get realigned with the long retreat and the seller advance. Logical? And if this is helpful, please guys thumbs up in the YouTube. Appreciate it. Yeah, you're welcome, Matt. Thanks, Stock Lounge. By the way, speaking of stocks, this process works in all markets, futures, crypto stocks, everything. It's generic because what makes the market do its thing? Well, it's an auction. And this process, you could take it and trade anything with it. You want to trade pork bellies? Go for it. Not so much. But let's just say, if you really like bacon, you could trade it. That is out there. That is resting. That 138 selling icebergs out there, they're hanging out looking to get filled. And that's what that is. That's resting out there. And if they can move it, and this is what this is, allows us to see the iceberg just waiting in the wing. So this is sitting out there. Interesting, isn't it? So these are executed icebergs. So this guy wants to sell. 70 are going off here. Now, he may never, he may cancel if he disappears, or he can move it up or down. So we'll watch what he does. Now, the thing with the iceberg, he's showing 138. That's what, the reason they call it an iceberg, it's the tip of the iceberg. We have no idea what's under that tip. But they have to show some. I don't know what the percentage is. There's an amount they have to show. I don't know. So don't ask me on that one. I don't know. But they have to show. But there's probably much more under the surface. That's why it's an iceberg. Think Titanic under the surface. So let's watch and see if we can read what goes on here. Let's watch this. You were asking about the closing swing trade. If you're interested in the closing swing trade, download the examples. If you're in Discord, in the Discord chat, it's up on top. It's pinned along with the video actually shows it. If you're in YouTube, go to my Twitter account at Tom B underscore trades. You'll see a ton of stuff in there that'll give you a really, I think good foundation. And also in the video that's in YouTube down under the more or in Discord pinned up on the top, I actually go through it, I think. So you can kind of understand what that is about. Serve the behavior 800. See the volume. This was a short, wasn't it? See the volume with the exhaustion. Short, wasn't it? Is everybody tracking? Winning the full trade. I don't follow what you're saying, Trader Bish. So Bish, would you clarify your question about the risk management process? So this was a short and now helmet. Bish, did I answer your question? I'm not sure. Would you let me know? And if this is helpful, please give a thumbs up. Yeah, Bish, is this your first time here, Bish? If so, then you need to spend a little more time. Actually, it doesn't. What the goal is is to get risk neutral and then runners. The targets are laid out based on the structure and what's available. Then it's a matter of once you're risk neutral, you can give the trade the room to work. If you get taken out, the worst that happens is you scratch. So you're protecting your account. Then it's targets and trade management and timeframe. And since we're in minor reversion, you know, it's going to be bouncy because we're trying to get to outside edges. Then it's the fractals inside if you want to trade inside in a shorter timeframe. Does that clarify a little bit for you? So this is a short with the stop above here. It's a couple of points. I personally have no reason to risk more than that. Then I'm only looking to cover the distance from here to here, which would be covered under these swings. And then it's trade management. And I'm fine with that. I mean, that's just me. And I'm just showing you what I do. So a small trader can operate in this. See, what it is is if we know statistically, and this is what the key to this is, if we know or you know or whoever knows, look at this 1900 icebergs, if we know statistically the probability, and this is over a sample size of getting a scale and getting risk neutral based on the timeframe and the rotations is 65, 60, pick a number, just saying whatever that individual trader's number would be, that high probability allows for the next trade, then it's the risk, it's the management. If you're in this operating in this, you could actually be doing very nicely even with a two lot. So think about the statistics. If I have a high probability of risk neutral and the rotations, the other part of this is the harmonic is 10 points, then how does that not work for me? I could just be trading 10 point 20 point rotations with the two three point stop. If I have a, let's say, a 60% probability or more of getting risk neutral, you see, so that's where the statistics come in. If that was my game, and let's say I only am a two-lotter, let's just say hypothetically, if I have a probability, an expectancy that is positive, then why wouldn't I trade two and two, three and three, five and five, 10 and 10? I don't have to do more than that. It's again a function of probability and the fractal and the rotations. At least that's the way I see it. I'm sure I'm not correct, but this is what works for me, I'm just saying. Now, I don't trade two lots, but I'm just saying, see the iceberg, I'm just saying though, that's what, if we're depending on our experience and our level and comfort risk and trade management, that's why I trade in a fractal, and that's why my first obstacle or job per my trade plan, and everybody has to create their own trade plan, right, is risk neutral, because it affects by psychology and it also protects my account. When I take a full stop, fine. It's the cost of production, it's overhead. I'm certainly not concerned about taking a stop other than I don't like it, but it's just cost of production. At least that's the way I frame it mentally for myself, and again, this is just one person, one trader's way of approaching it, you know, and I'm sure there's better ways. I'm certainly not going to say there isn't. Janet, I put, right here in Bookmap, I can execute on the screen. So I basically have my mouse and I'm just sort of watching it. So I'm right here like this, and I just click, click the mouse and it puts it right in. So that's how I execute. On-screen execution with the Global Plus, it's really neat. In other words, here, let me show you. So you can execute off the chart or off a dome, however you want to do it. I use brackets. So if I was, I don't trade off of this, but if, so you adjust your stops, so they're OCO type orders, because I want to be server side. I never want to be computer side. Used to be with strategy orders, you know, they were controlled by your computer. I'm not interested in that.  So anyway, answer your question. This is how I execute. So if this was my high volume area, I'd be clicking my limits. You see, right up in here. So, and I'm just saying for example, and then these would be laid out, you know, my targets, and then since they're individuals. So if each one, so let's say I'm trading, well, units of two. So this would be set to two, and it would be click, click, click would be three two-lots, and they each can be then moved independently. So I'd adjust my stops, and then I'd move my scale where it needs to be to get risk neutral, and then my targets, and then manage my stops. Does that explain that? And then do replays, you know. And the way to kind of get the idea of this, what I do, and I still do this, I on the weekend, I do replays and to make it even more challenging, it's challenging enough, but I don't know the I pick a random day, I don't know the context, I know nothing, and it forces me to work with the developing context, and then I try to read, you know, the way I read, and get aligned with it, and try to see what's going on. So I don't know what happens in the ETH, I don't know the higher time frame, I know nothing, I don't even know what happened the previous day, I know nothing. It forces me to concentrate on reading the structure, the microstructures, you know, MBO data, you know, what's going on with the stops, and Bookmap records all of this, and then you can play it back, and you can speed it up, you can do it on half speed to see the nuance, and what I do is I've run it at four times. And the reason, and I'm not saying you start with that, you start real time, or even a little slower, so you can see it, because what I'm doing is it's no different than an athlete going out on the court and practicing. What I'm doing is I'm training and reinforcing subconscious competence, because this happens quickly. So I need to see it intuitively, like this, I need to see it intuitively. So, and that only comes from practice and repetition. So I always think of myself in a way like an athlete in the sense that I better be practicing, better be watching those films of the competition. You see what I'm saying? I better be working, because this is my career, my job. My job is to get better, try to get that extra one or two ticks per trade. All that is part of it. So it's never done, and I always want to do better. I always go over my day, I look at what I didn't do right. And there's things I do that I wish I did better, because it costs me. But over the sample size, because remember, there's no perfection in trading, and that's the thing we have to accept. We can't be perfect, because the market is imperfect. There's this random aspect to it. So if we accept randomness, then all we can try to do is get aligned and accept that along the way. We're going to take stops and pay for the privilege, cost of production. That's just the way it is. Anyway, I hope that clarifies things a little bit. Zimbru, did I answer your question about the stops and the limit orders and all that? Did I answer that for you, Zimbru, on how to enter the orders? Well, for me, J.L., what's more important, stops or icebergs? I understand what stops are. It's retail trader behavior. Icebergs, you know, they're in a different time frame than us.  Now, this is a short here. Not a recommendation. Alignment, 1,000 icebergs, retail trader behavior exhaustion. So it's not a recommendation. I'm just saying is, and I'm just saying this kind of off the cuff, see the behavior here? So I've got exhaustion. I've got icebergs.  We're in a high volume area and we can still come up to the other side. So I'm aware of that. But it would be an area I would observe. I'm not suggesting. See, we took out this swing. We can still rotate higher. You know, no way to know. But look where we are. See this consolidation up here. So there's volume in here. So let's observe it. VPAC just shifted. That's very material here that says right now we, this is the area that's being accepted. That means everything above us is too high. So now let's observe. Let's observe the behavior. See how the icebergs operate? There's another 1,000. So they're selling here. But I do not initiate off them. I want to see the behavior. This is important here. So we want to observe, do we mean revert and then come back here from above? Well, look at this guy. Nice. Or do we break below here and come d