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How To Use Heikin Ashi Candlesticks (from a pro trader) - YouTube
Channel: Etienne Crete - Desire To TRADE
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and you know I've learned bye-bye the
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ultimate way of learning and trading is
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you know losses in your account that the
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more stuff you have on your screen
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there's always going to be a right place
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to get in and right place to get out
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[Music]
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the among jurors come back to this
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freezing montreal it's crazy out here
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first time I come here downtown since I
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came back from Singapore and now we've
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been doing back testing the past few
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days
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I've been show you guys everything I was
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doing and looking for in the market I
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will take a little break of this today
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I'm going to meet a friend who came here
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in Montreal for a few days specifically
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for the meetup we have tomorrow evening
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I'm gonna meet him today and try to talk
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low trading you guys know him for sure
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so let's get there right away
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[Music]
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I had to suffer coffee of course
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[Music]
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our traders who come back I'm sitting
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down today with Michaels Tama and we
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want to talk about hacking actually if
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you guys been following these wheels
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past two days I've been going live
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talking about the project and doing with
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the back this thing with a kanashii it's
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not going too well on my side what I've
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been coming across this it was pretty
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tough and that's really working right
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but starting I can actually a little bit
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so first of all I wanted you to do this
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yourself learn to tell people who you
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are and why you here yeah well you may
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have seen me on some of the other desire
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trade blog postings basically I'm a New
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Jersey boy I've traded this is actually
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my 20th year trading on obviously in the
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beginning but and I basically do
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corporate risk management I do on the
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corporate side I do public and private
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sector but really my core business is my
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trading business trade futures options
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and actually sell premium on options as
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well pretty much involved in the whole
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space I'd also do teaching of course to
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that crisp again specifically you know
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people reach out for me on the risk
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management specialty side so it's been a
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great journey hopefully there's many
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more years to come this business is
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always evolving but you know and again
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we talk about things like back testing
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like you just mentioned you know there's
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struggles with that that's a key part of
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the trading journey and a lot of people
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I find personally just don't invest the
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time and then the results suffer so and
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again maybe it's on the high kanashii
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side but i'd be happy to answer any
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questions
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so give people an introduction in your
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trading style what to trade how you
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trade are you in today's swing and what
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does that look like on a chart it's a
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yeah well I actually my training has
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evolved probably the last five years I
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was purely es futures trader and again
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that's a good chunk of what I still do I
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thought I'd try to really be you know
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b-flat at the end of the day so it's
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it's clearly a day trade type mentality
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but really I've increased year in the
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past five years my exposure to the
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option side the options premium writing
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a selling premium they say who's selling
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fear insurance in a sense and why
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because it's most the time it's
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overpriced so if I can you know buy
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something for two dollars and sell it
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for 250 when people are in panic or
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markets are moving and and people have
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feared they're willing to pay a high
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amount for that insurance they have
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always said I'm sort of a risk
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specialist that I applied for the
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trading world if you ask me you know
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which way the markets going I probably
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have I could tell you a story there's a
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50% chance I'll be right
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I'm I really know much but what gives me
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that edge is the risk management side
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particularly I will on the option side
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obviously all those will swing they can
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be closed out within a day or up to 60
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days but I really think it in today it's
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protecting our losses and allowing you
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to trade for another day that really
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makes you know the traders you know and
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like we're here in Montreal these
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traders or you know top knobs that we're
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beating that our traders group tomorrow
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you know that that's what separates the
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men from the boys yeah by the way
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Michael's been able to help me put
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together a course in risk management in
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society carry me I'll put the link below
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and that's an awesome course about
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everything he knows analysis of risk
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management we read useful and that's
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value to $25,000 or something oh you
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know well your risk management such a
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tough topic to really talk about it can
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be granular but I thought you know in
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that that small timeframe we did a
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really good job and it had a lot of
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value to traders awesome so back to it
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well you know about I can actually I use
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I can actually your viewers not familiar
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with it it's it's really just color
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coding bar charts and really what the
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intention is supposed to do sometimes it
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you know it works more than other times
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is that it sort of smoothes out if you
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ever have using candlestick charts as
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yet sometimes on a choppy market a green
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red green red especially in a smaller
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time frame I'm you know if you're using
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that type of information to help you
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enter and exit on trend days it's fine
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but on chop days it can really just
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whips all you out and then you know next
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you know you may have had like a
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break-even day you get 30 trades and
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stuff and and just chops you up and it's
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not worth it how can actually what it's
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intended to do is to sort of smooth out
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those that choppiness so you can trade
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it in the sense without getting chopped
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up in a trend market clearly it works
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better but in a chop market it will sort
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of
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you know it sort of prohibit you if you
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follow it correctly not to just you know
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trade 50 times a day and the whole
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intention is not to go you know green
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red green red trade everyone but it'll
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kind of keep you on the same page at
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least that's the intention
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mm-hmm and so how do you use it you look
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at the changing color or because what
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I've seen today especially with the back
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of thing is that even I can ask can't
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change color very often it is you have
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to change all the setup or can't change
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color you would be wasting your time
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probably and have a lot of losing trades
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so what do you think is the goal and the
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intention behind using a connection
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yeah and how how I use it well let me
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first say if you have any type of
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charting on a smaller time frame you're
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gonna have that sort of color changes
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whether it's I can actually candlestick
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whatever you're doing I like to look at
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it more of a validation so something I'm
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already planning on doing so it's not a
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red light green light to magic I don't
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have any red light green light but if I
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have a particular trigger which I refer
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to my trading plan that okay when this
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happens I'm interested I'm very
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interested in doing something maybe Oh
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getting into a trade but I can actually
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maybe sort of the validator says now I'm
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getting again that's how I use it but
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for those who use sort of like when it
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turns green it turns red you know again
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I think if you have good risk management
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principles and you're consistent with
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your methodology it'll keep you on the
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right side of the trade whether it makes
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money or not is a different story just
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goes something at least in my sort of
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validation once it turns that I can
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actually that reversal I just asked
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myself what's going on here is this just
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something like a normal Evan flow or
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retracement or sure I can actually
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change color it's not just like that
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little tick or something
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there's obviously some type of reversal
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power right yeah that you know I asked
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myself that again if it if something's
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going in a certain direction or a
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certain range and then maybe it goes
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outside of a range and then maybe it
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comes back in I'm asking myself you know
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I used the phrase that James Doland in
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market profile uses the hair on the back
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of your neck should be standing up when
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that happens okay why is that like why
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were we in a certain range fall out of
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it and
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come back in like where were the sellers
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where were the buyers that are pushing
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something changed Hika NASA changes now
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it's saying me I'll pay structurally you
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know I'm in one thing I'm impressed with
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you especially is that you don't use
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that many indicators and so one of the
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reason why user can actually kind of
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reduce why I use and what I found out is
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that maybe some of the indicators I use
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right now the bunch of railroad tracks a
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lot Michael DVD working I serve with a
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connection I'd be better to focus only
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on like specific zones in the market so
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already you talk about what kind of
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tools to use in the market to keep it
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simple
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yeah well and again if I'm traveling all
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my tools are sort of limited so I focus
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more on like market profile theory and
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things like that
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but I basically use I'm not again I'll
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have high kanashii charts 15 minutes on
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my screens but I'm really concerned was
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are we in a trending market in a
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balanced market that kind of dictates
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the paths I take as far as my different
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strategies a lot of people ask me is is
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well you know I packed tested your
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strategy and it's like 50% well sure
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because you're not supposed to use they
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can dole occasions you know and all the
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time firms and that's what a lot of new
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traders they just want to like show me
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the set up some of the set up as well
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you're not really putting me in context
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and I can actually in a sense helps you
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identify is something changing here
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again maybe it's just a simple
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retracement and then it goes back to its
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normal flow it's possible and yeah
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that's what we have first management and
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things like that but when I apply
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statistical analytics to certain things
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when and I can actually changes in a
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certain environment what's the outcome
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well what's it and when I start to see
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out to me when I see 65 percent 68
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percent if something happens this
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happens I start to get interested when I
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see 70 percent now I'm gonna start okay
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now I want to learn more when I start
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seeing 75 up to 81 percent particularly
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a market profile you said some things
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I'm now I'm you know I
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starting it well with the cinnamon I'm
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gonna back test and it really invest
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some of the tools and time that I have
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because it the worthy of it it showed me
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that it's something I did do it again
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just to wrap up with hi can actually it
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it's not a red light green light yeah
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and I think one of the biggest misnomers
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that people misuse that type of
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technology because let's face it it's
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visually appealing so it you know it
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says oh it's like something change don't
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let me get in on and stuff yeah again
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it's a great tool combined with a bunch
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of other stuff
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yeah one thing that I found from
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yourself is that you don't use typical
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supports this area so you don't look in
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the chart draw lines on what support are
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necessarily you're using market profile
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so why is that and why don't you think
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that support is just areas or that's a
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better than market profile yeah well I
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find that that no I've learned in my and
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yeah I've learned by by the ultimate way
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of learning and trading is you know
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losses in your account that the more
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stuff you have on your screen it's just
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you know it just seems to there's always
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gonna be a right place to get in and
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right place to get out but just you have
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too much junk on there or too much noise
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it just it doesn't have just saw the
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results market profile is just one of
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the things that you so I want to be
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clear about it but it does give me sort
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of a framework to tell me okay are we in
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a trend or sort of a range you know I
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always look at like the car dealership
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that you know when they look at the
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sales for the month you know there's
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probably a chance of there's a good
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chance where most of the sales made you
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know we're at a certain price or within
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our range and then there was that
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outlier where - maybe that sales maybe
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one more on the last day so that the the
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manager probably just say okay there
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will discuss the low price but they have
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these outliers but for the most part
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business was being conducted in a
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certain range same thing with the
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markets no price like so it's a it's
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really an advertising mechanism and
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price likes to sort of navigate where
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it's comfortable where their buyers
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sellers are both gonna be happy does it
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try to probe outside that of course
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that's why we have trending markets but
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to market profile really recognizes
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those two things and then what you do is
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you apply the strategies that would most
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take advantage or give you the most edge
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in a trending and or chopped or sort of
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where where prices sort of being
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accepted you can take advantage of those
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through scalping things
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love it that's pretty useful I think
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I'll have to get back to the drawing
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board and you guys might have some ideas
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it's back test will probably see Michael
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tomorrow at the meet up and we'll be
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talking about this very topic yeah any
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last piece of wisdom for people watching
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this right now like any other tool try
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it play with it back test it but really
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I am say let the analytics let the
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numbers the statistics drive you to
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whether you use it in your here in your
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way there's a lot of ways to use any
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type of these tools right yeah you know
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just try it back test it and really just
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immerse yourself in night being an
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expert at that thing before you apply
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any capital to it it goes with anything
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that's the basic core principles the
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first man loved it high quality is good
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the the streets are clean the public
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places are clean so yeah you can't
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really complain about saying I've heard
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a lot about that so it's almost too
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clean too people say so interesting
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coolest airport I didn't tell you I may
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have no one but you may have seen
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