Transcription
Welcome to another vlog. Today I lost $35,000. And like always, I'm being super transparent. I will never hide anything from you. I will never, you know, gatekeep anything from you. I'll just show you the raw truth of trading, you know, like we're not always going to be right. But just wanted to share today with you guys. I think I'm going to switch the lighting around. Give me one sec.
All right. So, you guys know me. Will not sugarcoat anything from you guys. Today, I lost 35K and I did everything I could do. I did everything I could do. I'm not hurt, but it's kind of frustrating. Um, but it it's the game trading. You're going to lose. I already know that. I'm aware of that. I'm not perfect. I'm not, you know, a superhuman or anything. I'm just an average day trader, somebody that is here to share you um my journeys, my lessons, my thought process, my psychology, and everything because once again, trading comes down to a lot of what's going on in here. And I'm a super nerd, super big nerd on psychology. I watch a lot of videos. Like you should see my YouTube recommendations. It's just straight psychology videos.
Anyways, um but today I did everything I could. I looked at market structure, looked at the price action, waited for volume. I did everything that I could. Even yesterday I was up 108K. I think that was the biggest I seen. What is that? Oh, it's a train again. Now I have to wait for the train to get by again. I am outside in nature once again. But there is a train track right here. So see you. So the train is not that obnoxious anymore.
But anyways, I did everything that I could. I followed everything in my plan. You have to understand like you can follow everything. You can follow every rule in the book. You can follow every pattern, everything, everything, and you still will come out with a loss. You can practice as hard as you want and you could still come out as a loss. It happens to the best of us. And you have to understand that you cannot beat yourself up about it. You did everything that you could. You did right. The market is predictable, but it's unpredictable. It's predictable, but it's unpredictable. Like, we can do all the analysis we want. We can, you know, understand where price is going to go, but it still can do whatever it wants at the end of the day. Even though it follows market structure, it follows price action. It's those some days where price is not going to do what you want it to do. Price or price is not going to do or follow through. That's the best way I can explain it. Price sometimes is just not going to follow through, you know.
So, today just kind of wanted to, you know, spread the spread the mindset that I have whenever I take losses. Um, I'm super big on risk management. So, once again, losses doesn't really affect me. And once again, I'm not saying this from a standpoint of like, oh, I have millions of dollars. Of course, I can lose a 20 grand, 30 grand. That's not the case. I don't want to lose money. Nobody wants to lose money. But you have to remember from a risk-to-reward standpoint, the way that I teach, you should be able to catch a 1 to three, a 1 to four, maybe more, right? And we go based off structure. I'm going to talk about that later. But risk management, RR, risk-to-reward, you should be risking, let's say, $200, $1,000 to make for uh to make $800 to make $4,000, right? You should be risking this way because even when I lo So today, from my standpoint, even though I lost 35K or let's say right around 40, let's just make it 40 so the numbers are even. Let's say I lost right around 40k. I know with a 1 to 4 risk-to-reward I risked that you know it was a I'm pretty sure this trade was like a bro it was a 1 to 30 something. It was a 1 to 30 and I was swing trying trying to get that swing trade but 1 to 4 right we risk a 1 to 4 even though we lost even though we lost this trade we risk 40 or 40k that profit that we would have made would have beenund 160k it would have been 160k so I lost 40 this time imagine if I go into the next trade and then that trade that 1 to 4 hits I risk 40,000 I hit a 1 to 6 60 or I hit 160K. So now I would technically be in profit of 120,000. That's how risk-to-reward works. And the reason why it works very well with me is because I know my win percentage is high as well. Once again, this video is just me sharing my document or like me documenting the my trading journey or whatever, but my win rate is a 94%. And I'll pull up the stats and everything in a bit, but I know that majority of the time when I get into a trade is going to hit for me. And I don't trade often. Um, I've been trading very, very more frequently this year because of gold has just been giving, you know, movements up and down, up and down. And I've been able to catch them, but I don't trade very frequently. All my decisions are made off of higher time frame trends. So, normally I'm that guy that's, you know, when the uptrend starts all the way to when it stops and then when the downtrend starts all the way to when the downtrend stops. That's that's me. Um, I like trading that way. It's very it it makes me feel very calm. I don't have to worry about waking up every single day trying to find some type of setup. I can try to, you know, find something Monday, Tuesday, find the setup for Monday, Tuesday, and then pretty much hold throughout the week and probably close Friday. That's just me giving an example, right? Sometimes I can hold into the next week or whatever the case might be. But I'm very big on picking my trades wisely. A lot of people, they would lose and then they would just instantly hop back into the next trade or try to hop into the reversal or whatever the case might be. If I lose, you take that date as a loss.
Once again, there is another train because apparently it is train time at 5:00 p.m. It's train season. All right, now where was I? Risk-to-reward is honestly the best thing that saves me from pretty much everything. Now, structure-wise, a lot of people, they base their trading off of how much they are going to lose, which is a good thing. Once again, is a good thing. Risk-to-reward. But I need you guys to focus on just overall structure in general. Some people would have been like, "Oh, you should have closed your trade or you should have did this or you should have did that yesterday when you was up 100 108K." I posted it in Instagram, right? They was like, "Oh, you should have, you know, closed when you was at 108K." Well, structure was telling me that price could still have more potential to go down. Structure wasn't telling me to close. I close and I place my trades based off of structure only. Structure is the only thing that's going to make me make decisions in the market. So with this being said, if price is still giving me bearish structure, if it's still looking bearish, then I'm still going to hold my trade. I'm still going to be in that sell. So also as well, I put my stop loss based off of structure. So, if I know I'm in a downtrend and I know that I want to be bearish on price, then I'm going to put my trade or I'm gonna put my stop loss above lower highs. I'm gonna put my stop loss above levels where I know, hey, if price breaks this level, then it's most likely looking to go bullish. There's no point of just putting your stop loss anywhere and then let's say price hits your stop loss and then you still are confused if price is reversing or not or if price is going against you, whatever the case might be. At least when I get into a trade, once again, there's a train. At least when I know when I get into a trade, I know that overall, like if it does hit my stop loss, I know price is reversing. I'm in the wrong trend. And then if I know price is going to TP, obviously I'm in the right trend, right? So, I'm big on, you know, basing everything off structure and letting price tell me what's what it wants to do. That's what I try to teach everybody. I want people to go based off what price is telling it telling you what it wants to do not what you think price should do.
All right. A lot of people don't look at structure alone and it kind of sets, you know, the difference between profitable traders or I guess you could say consistent profitable traders and then people that are just now beginners. Some of you guys are just trading based off the money amount. Oh, I lo I'm I'm in a trade and I'm down $100. I don't want to lose a hundred. Y'all are probably like, "I don't want to lose $100. Oh man, I'm freaking out. Now I'm down $200. I'm going just close." And then you close and then price goes exactly where you want to because it was just a pullback and you just needed the discipline and you just needed the mindset to kind of hold through that draw down because you sometimes you may face a little bit of draw down and that's okay. But if you understand that everything is based off structure, then you won't be so scared of the trades that you get into. Price is going to build lower highs and lower lows and downtrend. Price is going to give you higher highs and higher lows and uptrends. If you're in a trade and price hasn't broken any of the structure. So, if you're on in a trade, if you're in a sell and price hasn't broken any lower highs or it hasn't made any higher lows, then you should not be scared. There should be no fear in you. You should let price do its thing. Let it play out. Let everything play out. Let the plan play out. You sit on the charts for 15 minutes, 30 minutes, an hour a day, 2 hours, 3 hours, however long to do your analysis. You do your analysis. You look at price. You get into the trade. You execute it. Why would you give up halfway? Why would you Why would you give up halfway? Let it play through. Let it either hit stop-loss or let it hit TP. Let it play through. Cuz you never know. You might be fully right. You might be so right that it just keeps going down or keeps going up in your direction and then you make way more money than you even expected just because you let it play through. A lot of people don't let their trades play through and that was just something I seen a lot of people saying yesterday like, "Oh, you should have closed. You should have closed. You should have closed this and that or whatever." People say a lot of things. You have to focus on what your plan is. Focus on what you want or what you're looking at, your your strategy, your trade, your plan, your mindset, and just follow through with it to the end. Literally follow through with it. You don't want to half ass because if you do it in your trading, you're going to do it in your actual real life, too. Like, if you half ass in trading, if you half ass your strategy, if you half ass your plan, you're going to do the same exact thing inside of everything else you do. It's it's literally just how the brain works. If you half ass something, so if you say, "Oh, I'm going to go run a mile, but then you run 0.5, you just told yourself a lie. You're just lying to yourself." So, same way with a trade. If you're saying, "Oh, I'm going to get in here and then I'm going to get out here, but then you get out halfway there," then you're just lying to yourself.
So, overall today, I just kind of wanted to break down, you know, a little bit about my mindset. Once again, that train just kind of [ __ ] me over. That just wants to keep making noise. And once again, I'm like in a calm little area I like to come to. Um, I know y'all seen this building before. Um, but yeah, calm little area. It's actually an empty building and it's super huge. I like to, you know, just space out and be over here. Whenever I lose a trade, um I kind of just like to get away, man. Your environment plays a big role into your mindset, your your psychology. Um, a lot of like I spoke about this the other day on a Zoom call. I need peace and quiet. I need calm. I don't like working in chaotic. I don't like chaos. Chaos brings clutter. Clutter brings distracted thoughts, things that make you kind of just think all over the place. Impulsive decisions. When you have a lot of chaos around you, it makes you make impulsive decisions based off just like it's so much going on, so you feel like you have to answer everything super fast. So, you start making impulsive decisions. I don't like moving that way. I am an impulsive person, but I'm I'm very strategic and impulsive. So, if I feel like it's the right thing to do, I would do it immediately. So, that's the the kind of impulsive for me. And then in life, traveling and stuff like that, I'm very impulsive with that. But I know it's for for the good of my being. But most people make irrational decisions um with no critical or logical thinking, which is not the best thing to do. So that's why you see people whenever they lose a trade, they're very emotional. It's very chaotic. A lot is cluttering their brain because they're probably thinking, "Oh, bro, I needed this trade to work out because, you know, I needed the money for this or I needed the money for that." So then their brain is very chaotic and very cluttered with a bunch of stuff. So then they start making impulsive decisions which then leads into revenge trading which then leads into greed building into them and then they start overtrading. It's even it happens the same way with you know taking a taking a W. So even if you win a trade the same thing process through your brain as well. It's like oh [ __ ] I just made $1,000. I could do this. I could do that. I can do this. And then you start making impulsive decisions. You might hop back on the charts. Let me see if I can make more since I made more money today. Or since I've made $1,000 today. Let me see if I can make more. So once again, I like when it's very peaceful, very quiet, so I can think about the things that I'm doing. That's why, you know, um I even have a personal assistant. And not saying you have to get one, but I put a lot of my work on her. I put a lot of things of like my daily life on her. So that way when I am trading, um it just everything's just peace and quiet and I can just focus. I just need to focus and then once I focus I'm pretty much you know good to go. I can make decisions and I can think faster and I don't have clutter and I don't have things you know you know on my back or weighing on my back. So the best advice that I can give you is you know not personal assistant of course but what I would say is unclutter your life. Put everything into different categories. Unclutter your life. Organize it. Put everything where they need to go. Try to figure out things before you start trading. Try to unclutter your life. Move things or at least space things out. Push things away a little bit. And I'm not saying an aggressive like, "Oh, I don't want to talk to you or oh, I don't want to do this." That's not what I'm saying. I'm saying more in a sense of like just organize your life and just make sure everything is clean around you. Make sure you have your space to have your freedom or have that alone time so you can process because your brain your brain is super super powerful like super super powerful but a lot of people don't use it the way that it should be used. Um a lot of people don't you know kind of sit with themselves and actually think and process and you know create steps. You need steps. I feel like life is pretty simple. Life does have, you know, obstacles of course, but I feel like if everything is broken down into simple steps, if you break everything down into simple steps, everything becomes super easy.
All right, so today's market structure, as we've seen, so yesterday when I was breaking everything down, I wonder if I'm looking at it in a wrong way because I still believe price is on a downtrend just because we made that new low. So, we have a swing low in the market. I'm wondering um is this like a bigger time frame? Should I not be looking at this as a swing high? So, just the process that's going through my head right now. Should I not be looking at this as a swing high? Um more just like the retest and this whole move was just that bearish trend in the first place. So, a um first bearish move down, a small correction, and then that that low that was made. Should I be looking at price that way? Because I do feel like price is still on a downtrend. I think what is really going to change my mind is one I am aware that we've broken that structure that I did have. We are above a level where bulls can take control of the market. So back above here of course um but just overall just looking at price and just looking at the price action that we are given this looks like a downtrend. So I think I was probably looking at this high wrong. We'll see progress. Um, today's Wednesday the 20th, so we'll see how everything progressed, but I do feel like price is in a downtrend. Um, what would have really got me today would have definitely been anything above this level, but price hasn't got to that point yet. But let's see how everything progressed. We'll need to see like a pullback and then rejections to the downside and then price to come back above that level once again. So back above here, we need to see price back above this level. So a correction will be good and back above this gray zone, we'll know price for sure is bullish. But today, it definitely made a good push after making a low. That's why I'm kind of skeptical. Oop, excuse me. That's why I'm a little bit skeptical because price sold off yesterday, did all the sell off, created a new low. This new low obviously has buyers sitting at this level. So that's what's got me thinking that buyers were just sitting here and they ended up pushing price up. So now we have a technical new high. So technically this is a new high in the market um for current price. So let's kind of see furthermore like price is going to continue to make that push or is it just a correction for that 4-hour time frame? So overall this was that swing high. This was that swing low. And overall we have this push for the correction and then back under this level we could sell price for you know um we can take it down for sales. Uh I don't know why it's telling me to text. Boom. Turn that off. All right. So under this level we could possibly sell. Once again I'm going based off this new low. Um I need more bullish structure. I'm not trading yet. I'm just overall giving my thought process of everything. Um but furthermore, everything looks, you know, pretty bearish to me. So, let's see what happens. Um, let's see how everything progressed. And yeah, pretty much that was today. Um, that trade that I was in, I didn't close. So, also as well, the reason why I didn't close is because once again, I'm looking at the overall trend. And the next level of buyers would have been down here. This would have been the next level of buyers down in these areas. So, here. And then we also have here as well. These would have been the next level of buyers and under this level we had straight sellers selling momentum came in New York I mean New York ended and then we had London and Asian and London which ended up giving us pretty much most of this volume and then 9 9:00 it was stagnant. So if we go here and we look at price turn on sessions look at New York. New York gave a small bullish move but then it rejected multiple times coming back down to these levels rejected and now it was you know slowly trinkling up. Most of that volume yesterday came from Asian and London session. Um, and as I said, New York session is that good move for gold because it's USD and overall gold is a current or like it's a metal that we use. So once again, I think um price is still bearish in my opinion. Um overall, I'm still going to just be aware of bullish potential. But yeah, that's pretty much what I have for today. Um, once let me go check NASDAQ too as well. Um, NASDAQ ended up selling down to that level that I was talking about. Um, yesterday I did a Zoom. I don't know if I should post the Zoom. I'll probably post it on my second channel. Um, ICC content or it's like ICC Mafia. I'll probably post it on there. But, um, it gave another selloff today. So, price is still bearish on NASDAQ. We had a small correction before New York session came in. New York session gave all the volume and this is the level of buyers that I was talking about yesterday on the zoom call. This is that level of buyers and then the next level would be down here. Um, price looks like it already gave that new indication. So what I mean by that is overall price broke this level. So broke under this low. So we have a new indication. There's a correction in the market. Honestly, when things like this happen, to be honest, I think price could just do like a full reset, like a full like full on reset sometimes and then start to build that structure back down cuz overall, this could just overall just be that new low. Price goes up on a full uptrend for a bit and then starts to trulle its way down back to these levels. But anything can happen. You just got to really let price tell you what it wants to do. But we definitely got that new low where the buyers were sitting. So we got buyers sitting here and price tagged into that level. So buyers are reacting off of this. But now you just need a confirmed lower high. So 1-hour time frame like we're on now. We see price is correcting. Right now we'll be on a 15-minute time frame waiting for structure to go back bearish. Um, when things like this happen the next day typically be either no movement or like a small bullish push just for that correction. But let's see how everything goes. Like like I said, it's out of session. So markets are closed right now. Um, so you really have to see with with NASDAQ for tomorrow. You have to see that for tomorrow.
And yo, XRP, tell me why. Um, a lot of people ask me about crypto. Let me know if you're watching this. Let me know if price or comment whenever price hits this number. So what is this? Uh, let me go here. Turn this back to default. So, whenever price gets to $2.72, uh, just come back to this video and comment that it hit 272 because that means ICC definitely works on crypto and a lot of people ask that question a lot. But, um, as you can see with XRP, it is building a lot of um, lower highs. So, lower highs, we had a break here because of that new low. You see how this new low caused price to push up hard and not respect the fact that this is that higher low? Overall, like I would look at this now as like today has me feeling like dang like is this the whole swing move? Should I be looking at it like this? Swing swing high, swing low, swing high, swing low, swing high, swing low. So, we'll see. But we do have um lower highs right here. So, as long as price doesn't break above um $310, I think XRP could make it to that 272. If it breaks above uh 310, it it's obviously going to target that 330 mark. But overall, it just looks like price on XRP was bearish. Um, until there's a flip and then once it flips, it'll probably go for that 2 220. What was that? 239. Yeah, it was 230 or 339. And then after that 364. But overall, I don't really trade crypto. So, I'm just going through the charts and showing you everything. Um, one more thing too as well with the fact that price on gold has been consolidating on the daily time frame. I wonder does this play a part into why price isn't really moving how we want it to move. Um, overall it is giving us small trends inside but overall like I feel like it could be very short-term trends. So it could be very short trends and then the next day it's a whole different thing. Um, I I work very well when price is trending in one direction but the gold time frame or the gold daily time frame just overall chop. But let me let me know your thoughts on everything.