Mastering Stop Loss
we go now one of the main things i want to talk about today is all around stop losses again for those of you guys who do not know me my name is Navin Prithyani i am the senior trader at Urban Forex also the ceo and mentor at Urban Forex and ceo of black tower investments in hong kong and ceo of anticipate don't participate dmcc in dubai okay i can list the credentials on and on and on but that's not why you're here and one one of the main things that i'm known for is to make complex things easy okay is to make complex things easy so here's what we're gonna do this is not your typical webinar so feel free to interact with me when i say typical webinar i don't sit here and talk stories and stories and stories and bore the hell out of you we're gonna go straight into it actionable things that you can use all the time 60 minutes on the clock let's get started here we go okay let's start off by a little whiteboard here we go let me get the the chat out so i can see your messages as well all right okay doing a circle on my screen can you guys see it yeah okay perfect perfect let's get started okay so now i'm gonna run through something very very basic really really quickly how many of you guys here know your basics okay we got some people saying yes i know some basics how many guys feel you don't know your basics okay i see one person saying i hope so okay all right here's what's important about the basics unfortunately us as human beings we think if something is so simple so easy we tend to brush it off rather than seeing how much power is behind that so let's talk about one thing in general okay what's one major thing when it comes to stop loss what do people say when if this happens let me draw it for you if i say the prices are going down they pull back they go down and then they go up pull back and they go up and if you buy it from here where are people putting stop losses where are putting stop losses where are people putting stop losses recent low right right here they're putting their stop losses right there correct okay what they're talking about is what's the most recent low that he's made and i'll put my stop losses there some people say that as okay well that's actually within my 30 pips anyways that i normally do so my stop-loss is there okay so far so good everyone with me so far okay let's put this to the test hey consider this urban forex mythbusters okay let's put this to the test so let's start with basic knowledge okay basic knowledge of do you know what you're doing in the markets to begin with to begin with once we identify the basics you'll have a solid understanding of wait a minute i can't use my stop loss like that it won't work in this situation so let's start with that what are the three different states of the market what are the three different states of the market all right we got trend we got range and we got channel right these are the three different states of the market when they invent a fourth state you please let me know but until then for the longest of time we run within these three states okay so far so good no not united states they're definitely not united these three at all okay so there are three different states now basic stuff a trend higher high high or low sequence and support resistance technically always gets honored it gets honored it doesn't break it okay that's when you know you're in a trending state in a ranging state support and resisting holds it doesn't let you through right that's a ranging state final state is a channel which means support and resistance gets violated but it doesn't mean the market's turning around violated but it doesn't mean it's turning around it just has to do a very deep pullback very deep pullback very deep pullback and when he makes a new high it's slightly higher so far so good fair enough everyone understand a channel state this is the stuff that we draw like this right all right now let's do the fun stuff now okay here's the fun part now how many guys would be like this is easy stuff brown man why are you teaching me this stuff am i gonna waste 60 minutes of my time because of this nonsense how many guys are feeling like that right now right basics basics don't don't tell me basics i'm a pro i make more money than bill gates don't teach me basics okay so let's go into it a little bit deeper a little bit deeper okay and let's trust the reason why you're here you're here because there's a hole somewhere that you want to fill that you want to find out is there more to it than what i already know so let's go into it a little bit deeper so when you have a ranging market and in that ranging market you got pinballs boing boing boing boing boing boing and then the range breaks okay the range breaks now if the price comes back down to here should i buy i'm asking a very simple basic question support equals resistance resistance equals support okay i see many yeses many knows this is what we call basics is the basic knowledge cemented well in the understanding now if we simply look at it as a technical pattern yes you're supposed to buy now if i buy this here's the question if i buy this where am i normally putting my stop loss what we just talked about we would put it here your recent low right we would put it right there and saying that's my stop loss correct so i'm gonna put that there stop loss okay here's the thing once this thing broke out how do i know this thing is going to go full-blown trend mode and it's not going to be a channel mode how do i know that what if this thing is like a channel he goes up slightly higher that means he wants to come down here and then take off what happens to your stop-loss then simple question right simple question now does the logic of put your stop-loss below your recent low work in this particular case no no so can you always use the feeling of i need to put my stop-loss there and what happens in this scenario is if it comes down to here it stops people out and then it goes how many of you guys had that experience ever in your past saying and i just got stopped out and then the trade work that mother right you get that feeling sometimes right like it's like why is this happening to me why is this happening to me and it's not happening to you because you have bad luck or someone is after you they don't know your ip address and where you live exactly like today we're gonna mess with this guy no no one's doing that no one's doing that it's just a matter of what you know versus what you should know it's just a lack of knowledge yeah exactly okay so don and diore yeah lack of knowledge that's correct that's correct all right so here we go now let's talk about certain things let's talk about certain things okay now stop losses are used in various elements right okay so we talked about recent low recent highs and now we know we can't really do that because there's no logic to it there's no logic to it let's start with something interesting right now here we go ready the markets are coming down should i buy it okay all of you guys are saying no good i don't see one person saying yes good should i buy it should i buy it so now let me understand one thing because i'm reading all the text right earlier here we said no because we don't know it's going to go for a bye now that we know it's a buy the answers are like oh it's too late so it seems like we can't ever trade well there's never going to be a trade ever all right let's take it a little step further should i buy it now okay i'm seeing a lot of yeses now more yeses than noes let's say i buy it now where's my stop-loss okay so let's work with that theory of below my recent low so first things first the trade has moved significantly away from the low i'm just joining here my stop loss is down in hell with the devil is just chilling with him having a pina colada down there and i'm expecting for me to make any money i need this movement to continue more to continue more that is the only way i'm going to make any money and to form to continue more this much i make a risk to reward of simply one is to one if my risk is a hundred dollars then this profit is a hundred dollars that's very dangerous that's very dangerous because don't forget you have to pay spread so one is to one is not a profitable game in the long run so far so good so let's let's talk about something a little bit more basic how many of you guys know how the forex markets operate how about that how about that let's take it even deeper take it even deeper into the basics let's just really get into the nitty-gritty today and be like all right let's do this let's do this okay so here's what the markets are doing okay ready the markets i'm gonna put this as euro usd okay here we go euro usd a currency everyone's familiar with the chart is doing this boom boom boom boom boom boom boom boom boom boom boom okay i want you to tell me how many people with serious serious money are saying when my m a my m a with the settings of 9.6 when the price goes above my m.a 9.6 i will buy how many people are doing that okay interesting how many people are saying when my fibonacci from the top to bottom retraces 50 i'm going to sell or buy how many people are saying when i get a higher high higher low sequence i will buy how many people are saying when i see a news come out and it's good i will buy how many people are saying yeah but this is an overall downtrend i will sell do you guys agree that there is all kinds of people out there all kinds of people out there correct okay okay let's start with that let's start with that moment right there you are aware that there's every type of trader out there every type of trader out there right doing all kinds of stuff so how do you make money so how do you make money and where is the golden strategy of it's not 9.6 ma it's 9.7 ah of course no no right like like that's gotta be ridiculous like you should know by now that's ridiculous correct so far so good so first things first that feeling of i need to find a strategy that's going to make me rich overnight you take that out of your brain and you throw it out the window saying get out get it out there it's not happening period now if you feel oh well in that case i can't trade forex then that might be the answer however that's not what i'm trying to show you guys here i didn't invite you to this webinar to be like all right i i think you should quit forex i want to show you the information so you can make an educated decision based on what you know based on what you know okay shall we go deeper now a little bit deeper now you guys have heard of apple not the fruit the company you guys have heard of tesla you guys have heard of amazon okay let me ask you this if you look at a stock chart for any one of these and the stock chart is doing this is that good for the company or bad for the company huh very good very good if it does this is that good for the company or bad for the company good got a bunch of geniuses in here let me switch it around just a little bit here we go when the market goes up is that good or bad ah something so simple people just overlook it's good for euro but bad for dollar good for euro but bad for dollar and when it goes down it's the opposite so can i ask you one thing can i ask you one thing when the euro starts to go up and we say we didn't buy it over here we're buying it up here remember that that idea that we drew that we're not gonna buy it down here we only know to buy it up there so if we're buying it up here with the stop loss over here and we expect it to go further what we are saying with our own mouth and our actions we're saying the us dollar is going to stand by and just take the hit because another 200 pip movement another 400 pip movement the banks in the us must be closed they don't care about their economy they don't care of what they're doing they're just going to stand there and twiddle their thumbs is that possible is there any country who's going to be like oh our our economy is getting so weak no problem let's see if my 7.9 ma will make the economy recover let's see if my 50 retracement is gonna make my economy recover let's see if my higher high higher low is going to make my economy recover good good now you're starting to open your eyes a little bit to quit with the simple technical analysis you need to quit that you need to quit that because that is a zero-sum game you're gonna make money you're gonna lose money you're gonna make money you're gonna lose money you're gonna get nowhere so far so good everything's making sense so far we're just touching base on very simplistic basics right now to make you understand this is great in stocks and that can continue but in forex that cannot continue that's a problem that's a problem the further it goes that's more of a problem the further it goes that's more of a problem so the higher you buy the more dangerous it is the more dangerous it becomes because governments are not looking at that fibonacci number they're not looking at that ma they're not looking at the all these things that everyone seems to think that it's the golden key it's the golden key okay so let's take it a step further okay i want all of you guys any of you guys and any one person to tell me a product what is a product somebody buys tell me a name an item that somebody would buy i'll take whatever i see first okay i see car iphone milk tv bread okay let's say tv okay everyone knows what a tv is big okay all right so let's say a tv let's start with something simple okay the tv price right now in whole is 50 okay is fifty dollars and it trades between fifty dollars and fifty one dollars the price of the tv so far so good when it trades between that price what does this mean what is happening it's a range but what does range mean there's satisfaction in the market people are happy to do business in this price range they're happy to do business which means hey i wanna buy okay sure i'll sell hey i wanna sell okay sure i'll buy does that make sense now as a trader can you make money if the market doesn't move no you can't you can't okay what if i give you more leverage what if i tell you you know what you have an account that's 40 or 50 is to one leverage i'm gonna give you ten thousand is to one leverage if the damn sucker doesn't move what are you gonna do throwing more money at it how many lot size do you need to throw on to make two pips of profit you're gonna die eventually does that make sense no movement no money period okay so far so good am i am i being too rough today i'm sorry if it's am i talking a little bit too loud or anything like that i get carried away and so if it's too much if it's in your face you know you tell me i will un in your face okay okay all right all right let's let's get in a little bit deeper a little bit deeper okay all right so that tv that was trading between 50 and 51 now there's businesses right there's businesses there is a business let's say best buy a lot of you guys might know best buy as a retail store in the us it's a huge retail store and they're all across all across the u.s now is the sound not clear can you guys hear me just fine yeah i think
the sound should be okay okay yeah that's fine all right so there's best buythere's circuit city i don't know if circuit city is still around but there's best buy it's a huge store i think in the uk it's called curries or something like that you guys have an idea in dubai yeah sheriff dg that's quite popular so these are people doing business now those people who are doing business they are reliant on that price better be as stable as possible why because when they place an order to china and that shipment comes in three months later that price better not move the more stable it is the better for businesses so far so good traders the opposite is true traders are like for god's sake give me some drama this needs to be like a spanish tv show give me some nonsense drama that people are going crazy only when there's drama where it becomes like a tv show like a korean tv series like oh finally i can make some money because for traders price does not matter does it matter if price reaches 75 are you gonna freak out for the tv economy as a trader do you actually freak out if euro touches 1.9 are you going crazy pulling your hair out and saying my goodness what am i gonna do now traders don't care they're just they're just saying if it's 75 can i do business between 75 to 85 that's it that's what a trader is concerned about so do you understand who you are versus who businesses are so far so good no it's not about traders don't have feelings it's not traders are not evil people they provide liquidity don't don't just think people are just coming in and just like taking money off the market it's not like that okay so far so good so businesses they care about the price traders not so much okay now that we know this a little bit let's go a little bit deeper a little bit deeper okay from 50 to 51 okay prices start to move now when it starts to move no trader is involved right now okay a regular trader a regular trader who generally goes with that notion of show me first and then i do something show me first and then i do something right can all of you guys tell me one thing in asia right in asia what are some of the biggest careers right now what's some of the biggest careers when you go to university what are parents forcing you to do go to i.t go become a doctor engineer mba why these why these why aren't they selling i want you to become a shoemaker i want you to make the best shoelace in the world as possible why not these because the whole world works on show me first and then i will do it show me followed by copy that's how the whole world operates which means no one wants to do the research to do this by everyone says oh now that i know it's going up i want to also join it i also want to therefore join it only when your neighbor becomes a doctor and buys a bmw is when your next generation is going to try to become a doctor as well that's how it works when you see a list of the 10 most highest paying jobs you'll be sure there's demands coming towards that industry automatically because people don't know what they're good at so they just want to participate so far so good and the the markets are exactly the same show me first and then i will follow okay all right here we go oh yeah sorry vincent that's actually a very good point it's 51 on top of 50. okay i was so involved that even though my numbers are all wrong okay here we go so
now the markets move okay ready markets are moving here we go markets move now traders are not in yet as the markets move the businesses are like what is happening our tv industry is getting really really expensive that's not good the tv industry industry stops participating they're saying oh hell no i'm not gonna buy at these prices are you crazy this was the norm this is not the norm so businesses actually stop traders are now whoa did you see that movement if i don't buy it i will never get my ferrari if i don't buy it my dog won't get his own ferrari okay traders are starting to get greed as this movement starts to do its thing whether it's coming comes into an m.a whether it comes into a 50 fibonacci whether it comes into i don't know you you name it whatever it does some system or strategy is gonna say buy buy prices start to move further because everyone is now getting in on this everyone's trying to get in on this but by this point the majority of the public do not notice it the public only sees it here why because now it has coverage now it has coverage which means every blog article every forex factory post every friend on the internet that you have every telegram channel they're all going to be talking about did you see that movement on pound usd i caught 200 pips what did you do right how many guys see people posting screenshots of a red bar like this and then a green bar like that and saying that was my risk to reward i risked one hundred dollars to make nine million dollars right like the internet's filled up full of that right right so this makes people say i also want to buy i also want to buy and therefore they start getting involved much higher so far so good as they're getting involved much higher i want you to tell me compared to the stock market is this good for the forex market the stock market can keep doing this and it's just fine that's normal this cannot sustain in the forex market it's bad so can i ask you guys one question to make money what do you need okay you need movement okay however here's the here's the problem in forex if you have too much movement the opportunity has now flipped to risk strange isn't it no one ever teaches this so now let me ask you one more thing let me let me let me ask you one more thing when you're in a trade and you're making profit of let's say 30 pips how many of you guys here have the feeling of you know what i have my stop loss of 20 pips i'm in profit i bought it here i'm in profit i'm gonna move my stop loss to break even to zero and i'm gonna let this run and say let's see how much money i make how many of you guys have a feeling of doing that that idea of let's see how much money i make now i want you to answer that question for me is let's see a good thing or a bad thing there you go there you go so as a trader in the in the stock market you're looking for my losses need to be a lot smaller than my wins and my wins they better run they better run like the wind right super fast it needs to go go go go go i want to make 10 r's on this trade now in forex things are slightly different you need to get in at a good spot and you got to get out at a good spot so let me show you something here ready let's say you're smart enough to figure out you need to buy this okay all of you guys are okay it's just a matter of some education might not be there but let's say the edu excuse me let's say the education is there and you've understood that you don't want to be buying when it's going up you want to be buying when it's coming down so you can anticipate the move and not participate in the move correct so let's say you buy this you figure it out you do you've done the research and you buy it now that the buy is performing and you're like okay well what i'm going to do for my stop-loss is i'm going to use a static stop-loss of 40 pips which is down here okay i don't want to put it exactly at my recent low i want to give it some space you know because of spread because it needs some space to move right you've heard people do that right let's we're going to give it some space man got to give it some space you know can't put it exactly just in case i get spiked out all right just in case i get spiked down so i want to give it some space so you put it at 40 pips now you're in the buy and the buy starts performing can you tell me is this buy gonna go here it's strange that all of you guys are saying no but yet 99 of people need that to happen weird isn't it everyone here is saying no but yet once you're in the trade 99.9 of the people they just try to hold on thinking it's gonna reach there really weird really really weird okay something to think about something to think about now here's the thing on the buy on the way up on the buy on the way up what are some of the problems you have you have this resistance to deal with you have this resistance to deal with you have this resistance to deal with you're telling me you're going to go from here to here and no one is going to step inside your way the us dollar is going to sit back and like you know what let me wait until john finishes his trade and then we'll fix the economy let me wait you know until lisa gets her take profit first and then we'll do a stimulus package come on you got to be a lot more serious than that right so if we take it a step further now oh you know i'm joking about it obviously but i want you to really take this in and be like the market doesn't move the way we wish it moves the way we wish it moves correct all right so let me ask you guys one thing now let me ask you guys one thing now so now that you know a movement that begins is the best place to start a movement that is out there in the open is the worst place to join correct so we don't want to be getting in when it's obvious we want to be getting in early stages so far so good all right okay so now let's go back to our stop losses based on your basic knowledge that you have now okay your basic knowledge that you have now when the when the market moves in a particular direction how do we make money how do we make money just a fundamental question like you know a theory give it to me in a theory how do we make money we buy we buy obviously we know we don't want to buy here that doesn't make any sense right we want to buy it okay if it comes back down we'll buy it again okay so let's draw this in a nicer way so let's say the markets were ranging that was the reason why i draw the range first is because i want to show you something brand new that happens in the market so this is a brand new movement okay brand new movement coming out of this coming out of the sky and you're you're looking at this and you're like i don't know if he's going to stop above here or if he's going to turn into a channel and he's going to stop over here i don't know that so how do we know you need to watch how it comes down right you need to watch how it comes down if it comes down struggling compared to how it went up and you measure left to right you will know that whatever the case is wherever you might end up buying wherever that buy is you know you're at least on the right side of the market so far so good okay now that is telling you the momentum is still hot whoever did this up movement still wants to go as that momentum goes up and it starts to pull back down again slowly and you're like i think it's a buy right here and then it does this and it stops you out because you had a stop loss of 30 pips exactly no logic no nothing stops you out and then it does this is that by actually incorrect is the word by incorrect no the buy is actually correct it's just the logic of where you entered let me ask you one more thing what if you entered here and you put the same 30 pip stop loss now that nonsense logic of 30 pips works it just works suddenly but here it doesn't work but the buy has not changed the buy is still a buy it's a matter of where you're trading that will determine if your stop-loss is legit or not me twist it up a little bit so fixed stop losses now you know the problems with fixed stop losses if you've entered in the wrong spot it's gonna fail so far so good let's go into not fixed we're gonna do the below the recent low below the recent low okay ready let's do that one now below the recent low what if the market does this from this process it jumps up i'm sorry i clicked on the wrong button from this market it suddenly does this bam now all those people who wanted to buy they're like oh no no no i need to buy this and then they jump onto the buyer right here and they put stop loss below the recent low can you tell me is the buy wrong no is the stop-loss wrong yes so can i ask you one thing for all of those people that you hear saying the market the broker the big boy they just love to do stop hunting they're not bloody stop hunting it's the guy who's entering here he feels he's being hunted over and over again because he doesn't know what he's doing so he has nothing but to point a finger at somebody so he can feel good you can't point fingers you gotta learn so far so good does that make sense you guys feel that have you noticed that like we can sit here and just blame the broker blame the big boy blame somebody but what's what's the point at the end of the day it's us whose account balance slightly goes lower slightly goes lower what's the point of blaming somebody you just feel good psychologically there's no point you gotta learn you gotta learn okay so now putting the price just below again has an issue so what's common between these two stop losses what's the common element can they both work can a fixed stop loss work yes if if you do it well enough yeah can below the recent low work if you entered here and you said i'm gonna put it below the recent low yeah that can work right but now what's missing is timing it is not the issue of the stop loss it's the timing so if you're constantly getting stopped out and the trade still works you're constantly getting stopped out and the trade still works there is a timing element that's wrong there's nothing wrong with the stop loss per se you can change the rules of the stop loss all you want it's not going to do anything because when this thing goes up like this and then it goes like if that's your ma right your moving average and you say okay i'm going to buy it here right there and i'm gonna put my stop loss below the moving average it's the same thing it's the same thing the mas will eventually turn down because the markets went down and go back up again right so when you enter here and you put your stop loss below the ma oh this time it works right so we've touched base on the different types of stop losses that the public generally likes to use but you got to be smarter than that the stop loss is in direct relationship to how you're reading the market if the read is wrong the entry is wrong if the entry is wrong stop loss is likely to get hit and is putting a stop loss here the correct solution no that's not the correct solution because then for you to make any money you need the markets to move this far at the very minimum to at least get two hours to at least get two times the money you're risking if you're risking a hundred dollars here to make at least two hundred dollars you need a movement all the way up to here the further you're going for the less likely it will happen the further you need the market to move in forex the less likely it is going to happen so can i ask you guys the million dollar question is there such a thing as i come into the forex markets and every day my goal is to make 200 pips 300 pips is the goal to say i am a pro at trading nothing but the pound dollar and today i'm gonna make money from the pound dollar and tomorrow i'm gonna do the same and day after tomorrow i'm gonna do the same can you do that it's nonsense you can't it's not possible because if it's not moving good luck you're not gonna make any money and you cannot tell me pound dollar 365 days a year it always moves and gives you 200 pips that way 100 that way 400 pips that way no it doesn't so when you attend those type of information informational strategies or seminars or ideology you know as the basic logic of forex that is not sustainable it's just not possible the person is talking out of his butt you see does that make sense all right all right shall we go into a little bit more in depth details so we're at a crossroads how do we fix timing how do we fix timing right all right all of you guys in here let let me understand one thing let me let me see where you guys are at we have 890 people in here i see nobody has left the room whatsoever so i'm i'm going to take it as none of you guys are bored and you're all all focused right i promise you guys 60 minutes non-stop you're gonna get aha aha moments you're here all focused can i get a yes focused excellent excellent excellent okay okay all right let's touch base a little bit on timing okay let's touch base a little bit on timing how do we conquer this timing okay how do we conquer this timing thing it's the worst enemy of every trader so let's take a look at this okay here we go prices are going up and down right okay prices move up a little bit okay they come out of the range now there's a certain type of trading that's done around here right what's that type of trading what happens when you see this happen what are the type of traders that get involved breakouts right so there's a certain type of traders who start getting involved called breakout trading now what is this thing called fake out false breakout a probe right it's like oh it never happened it never happened right so far so good now the first absolutely first thing you need to understand is something simple like this look at the movement coming out of the range look at the site size excuse me look at the size of the range is the breakout bigger or smaller than the range itself so is it outside of the normal of what the businesses generally buy and sell is it too much outside of their normal no it's fine here's what happens in this process in terms of structure of the market it might look like ah it might turn into a channel because he just made a slightly higher high he just made a slightly higher high now here's the thing watch very carefully as the prices are starting to come back down to here can you tell me if people will look at this as oh it's a fake out this is a cell it's a fake out i need to sell this the buys faked out it never happened i need to sell this without knowing what all this is happening what is happening why is it just pulling in deep or is it actually a fake out there's a difference right so we can't just say because there's a line that goes up there's a line that goes down and it sits inside the line therefore it's a fake out no you need to understand the context the context is everything you see but so so let me ask you guys one thing let me ask you guys one thing ready because we're talking about timing now right we're talking about timing right all right this piece i'm going to do it a little bit clearer so you guys can see it i'm going to delete it so i'm going to redraw that area so you guys can see it very very well and i'll change the color when this goes up oh wrong color when this thing goes up and then it comes down and you are thinking like okay no no i'm i'm a little bit more professional i know prices are gonna come down to the bottom of this channel and we're gonna try to buy it off of there but now that i asked you a question about the fake out would you say would you say people will also sell that okay good good stay stay with me right now the key to timing is to be a pro at both sides now let me repeat that the key to timing is to let go of your bias and be empathetic to both sides okay oh now what do i mean by that sellers are gonna attempt from here when the price comes down to here what do you think the sellers feel once they got in all the sellers who got in here how do they feel yeah baby yeah yeah it's approaching your area where buyers want to buy what do you think the buyers are gonna do they're going to begin they're going to start their buying now if you buy from here is this going to happen like that no don't forget that seller you told me there's a seller up there don't forget him don't forget that seller let him first panic let him first panic as of right now is he panicking or is he in the money he's happy so if prices start to go up do you think there's a chance it might respond to the support resistance again there's a possibility there's a possibility prices then come down again maybe but this time partially how do you think that seller feels when it comes down oh i can't even do what i used to do before he's worried now what happens as prices start to go up more do you think he's gonna still stay in the trade or he's gonna throw in the towel okay now let me ask you one thing so is this the best price to get in or is this the best price to get in number one or number two number one based on price yes it's better but number two is gonna make your stop survive because what if the sellers that you were empathetic for actually have more money and they respond but then they couldn't that is going to be a stop loss not because you don't know it's a buy it's simply because you didn't do that five minutes worth of extra research of saying let me see how the sellers feel let me see how the buyers feel because you told me in the beginning of this webinar there are all types of people looking at the market in all types of ways so if you're a buyer don't think everybody else is a buyer allow them to breathe also but when they stop breathing when they're starting to panic that's when you step in now if you buy it here are you buying it before it becomes obvious to the whole world the buyers are here absolutely so let me ask you one question you bought right here you're in that buy and you're like yeah baby making money making money making money the prices go up there's a resistance here it bounces off of that resistance a little bit there's a next resistance up here prices go up again and bounces from that resistance remember earlier when we talked about it we were saying some people will join here but majority of the people will join up there if you're in the buy from down here do you not like it that when you close your trade you have to hit the sell button when you sell somebody is saying yeah yeah give it to me i'll take it yeah yeah yeah give it to me give it to me please give it to me i want to buy it you can get filled if you trade large large size this spot they will take your money happily happily happily they will take your money that's how a movement eventually slows down is because the larger players or the ones who know what they're doing are cashing out every step of the way every time it gets higher they get cashing out they start cashing out so have you seen a movement that when it goes it generally slows down have you seen that before have you seen the momentum die like that it's because who got in earlier they're taking out some more money taking out some more money taking out some more money and when the sellers see this the seller starts saying oh maybe it's time to get in maybe it's time to get in maybe it's time to get in and the buyers are less and less and less that's how you get a rollover phase so what's the key to timing is it a strict strategy what's the key to timing is it all right guys when you see the moon line up over the ocean on top of australia and then the sun rises from the east and then you have a 40 percent pull back onto the market and then trump scratches his nose that's when you buy no please don't do that please don't make random rules on when this line gets crossed to the other side i will buy and i'll put my stop loss here who's drawing that line who is drawing that line nobody nobody is drawing it it's just somebody drawing it on his screen and he's telling you to draw it too why try to read what the market's trying to tell you okay so having that said having that said timing has everything to do with a simple meditational word if you want to put it to remember empathy if you want to buy feel for the sellers first feel for the sellers your timing is going to be good if you want to sell feel for the buyers first feel them understand what they're going through and then you can enter that's how you're gonna get your timing just right and that's when your stops will survive whichever weird way you give it a rule for your stop losses my stop losses needs to be exactly 17.5 pips okay well you do that but you time it right that'll survive okay all right so aha moments today how many guys here actually said can say you learned something in this 60 minutes how many guys here would say i didn't learn anything brown man i just come to your webinar every time and i tell you i didn't learn anything but i still come every time all right so one thing for sure okay can you guys do one thing for me okay one thing for me okay i want you guys to type in the chat that you will make a promise going forward that you will respect education you have to respect education because and more than respecting education you need to respect yourself because if you come to a webinar and you're cynical then what's the point of coming to a webinar just turn it off what's the point of coming to a forex education and saying i don't think that works quit forex it's as simple as that why follow it and not do anything you know what i mean if you're there then accept that i'm here because i need to learn something there must be something i don't know let me see if this is valuable leave the mind open it is only then will you learn something correct so the rules of our webinars always is you come in with an attitude of i'm gonna act like i don't know let's see if i learned something new today okay and those of you guys who do not have the mastering price section course if you want to learn the way we learn the markets the way we look at the markets you guys will get an email from us i'll send out a video to you guys in the next 20 minutes or so and you guys will be able to join the courses just like you've seen you know 75 of this room is already in that i wish you guys can see all the messages are coming across on how all these people actually enjoy the mastering price action 2.0 it's a whole different way to look at the markets there's nothing more powerful out there on the internet period okay there's nothing more powerful out on the internet right now it's an award-winning course as well so i really hope to look forward to seeing you guys inside the membership inside the course it is a course that you can keep for a lifetime and i look forward to seeing more of your progresses so thank you guys for coming out here and spending some time with me keep it strong do better and we'll make sure you go further every step of the way cheers guys thanks for that bye for now
2021-03-12 00:00
