Speaker A
All right folks, how you doing? Hope everybody's doing well, and this is just a kind of like a prep to get your mindset correct on what's coming in two days on the YouTube channel.
Introduction to ICT Mentorship 2022 by The Inner Circle Trader focusing on mindset, trading models, and price action concepts.
Key Takeaways
- Trading requires discipline, patience, and respect for the learning process.
- Demo trading concepts can be effectively applied to live trading with proper adherence to the method.
- Simplicity in trading models helps avoid confusion and improves learning outcomes.
- Price action and intraday bias reading are central to the mentorship’s teaching approach.
- The mentorship is designed for gradual progression from beginner to competent trader.
Summary
- The video serves as a preparatory introduction to the ICT Mentorship starting in two days on the YouTube channel.
- The instructor emphasizes the importance of mindset and discipline in trading, using demo accounts for teaching.
- He addresses skepticism about demo trading versus live trading and encourages testing concepts in the marketplace.
- The mentorship is designed primarily for beginners or 'earners' yearning to learn trading fundamentals.
- A simplified, stripped-down trading model will be taught to avoid analysis paralysis and focus on core concepts.
- The preferred trading instrument for the mentorship is index futures, though forex concepts are also applicable.
- The instructor shares his personal trading background and preference for short-term intraday trading.
- The goal is to improve understanding of price action, bias reading, and recognizing repeatable setups.
- The mentorship is structured in three stages: earner, learner, and earner again, aiming for gradual skill development.
- No new content will be produced in March 2022 due to the instructor’s planned vacation.
Full Transcript — Download SRT & Markdown
Speaker A
I want you to understand going forward that obviously you are familiar with my moniker, I've dubbed myself the demo baller, and I've always taught through the medium of a demo account for my own protection.
Speaker A
And I've had students come into my fold and question whether or not it was something that could work in live accounts because they themselves couldn't make it work in either a demo or paper trading.
Speaker A
Because either they could not find it in themselves to submit to the process and the time required for their own individual development, or they rushed and did things foolishly outside of the instructions that I provide in mentoring.
Speaker A
So there's a small faction of individuals on the internet that believe that these things that I teach don't work in a live account, and it's never really been an interest in me really to see people fall over me and believe everything I say.
Speaker A
I've challenged everyone to put the things I teach to test, see if the things I'm teaching you are in fact in the marketplace, do they deliver more times than not?
Speaker A
Does it provide you a way of finding consistency over a week, not every single day perfection, because I can't provide that, I don't even trade perfectly like that, no trader can, no teacher can provide 100% accuracy.
Speaker A
But the way I teach and the way you'll see me mentoring on this channel in two days is I take the earners, okay, all of you that are not trading yet or have tried trading and failed, you're yearning to learn how to do this.
Speaker A
Okay, so I'm teaching with that mindset. Now some of you obviously may have already been with me and found some consistency, and some of you are doing exceedingly well, and that's amazing, that's great, and I'm thankful for all of that.
Speaker A
But this is really meant for specifically, it's for my daughter, okay, so I sat down and figured I'd kill two birds at one stone, and if I can show a simplistic way of going in using the things that I teach, stripping it down to its chrome.
Speaker A
Okay, no bells and whistles, no advanced theories or anything like that, what can I do to provide a model that my daughter could look at and say, okay, there's not a lot of moving parts, it's real simple for me to decide what it is I want to do, and also when not to do something.
Speaker A
Okay, and some of you may already be completely upset with that idea because you want me to come out here and lay an arsenal in your hands of high-tech weaponry.
Speaker A
Um, it's been my experience that the highest form of analysis concepts that I've been teaching in my own personal mentorship, many times creates exceptional traders, yes.
Speaker A
But the majority of them, and them being my students, uh they get bogged down in all of the content, and it just creates analysis paralysis, and it's just too many things for them to decide, because like kid in the candy store, uh you know, what do you eat first?
Speaker A
And while you're still chewing on the first thing, what are you going to reach for next, okay, so if you don't have discipline, and this is a personal responsibility characteristic that all of you are going to have to really assume, okay, because I can lay the things in your hands.
Speaker A
But if you don't respect the fact that they have sharp edges, okay, or if you use live ammunition before you're really properly trained, you could hurt yourself.
Speaker A
Okay, so with that idea in mind, um I'll be teaching a stripped-down version of my concepts in a mentorship style.
Speaker A
So that way you can go through the process of learning how to do a specific trading model, and I'll keep things germane to that model, not try to bring in too many things, and one of the approaches is to trade it with index futures.
Speaker A
Okay, and if you are not interested in trading futures, that's fine, you can still trade forex with these concepts as well, but I kind of like want to drive it with futures.
Speaker A
Um, I actually began trading in 1992 as a commodity and futures trader, and I moved away from grains and cattle and gold, silver, crude oil, all those types of markets and moved into the bond market, the 30-year Treasury bond and the S&P.
Speaker A
So when that became my cup of tea, if you will, I became a better trader intraday, and I put down the pursuit of trying to be a long-term position trader because I felt that that would be the best thing for me because at the time I was working a job.
Speaker A
And I had to balance all those things like working class individuals need to do, they have to commute back and forth to work and those types of things, so I figured position trading would be the thing for me, and I found out that it didn't work for me.
Speaker A
Okay, so I liked the idea of short-term trading, intraday trading, it made sense to me because I can make quick decisions.
Speaker A
That may not be your style of trading, I will teach you how to apply the things I'm going to teach on the YouTube channel, how you can scale that up into any time frame.
Speaker A
So that way there's no excuse for you not to be able to use the information to at least better your understanding in price action, okay, so here's my promises to you.
Speaker A
I promise you, you're going to learn things that absolutely repeat a lot, you are not going to be perfect, it's not my goal to make you a perfect trader, it's not my goal to make you a perfect analyst.
Speaker A
My goal is to improve your understanding about price action, how price is delivered, and how to read the bias on an intraday basis, a daily basis, and hopefully over a short period of time, you can find setups that repeat.
Speaker A
And they have common characteristics that are very similar, but they won't be identical, they won't be carbon copies, but you'll see similarities to to know and trust that this is a setup that you are familiar with.
Speaker A
Okay, and because you were all being viewed as earners, okay, you are all yearning to learn how to do this.
Speaker A
There's three stages in this YouTube mentorship, okay, I'm treating you all as greenhorns, okay, you're just yearning to do this.
Speaker A
A lot of you that begin this YouTube mentorship will not complete it because you're going to get frustrated because you want something else or an alternative way of me teaching it to you.
Speaker A
I'm not going to take suggestions from anybody on how to teach it differently, this is the way I'm going to teach it, so it's as is.
Speaker A
It will not be setups given to you for trades, but I will take your attention before the fact and draw them out on a chart where I want you to study, where price will likely draw to next.
Speaker A
And using the things I teach you conceptually, it's your job to study that, okay, do not look at that as a trade setup, do not look at that as a an enticement to take a live trade.
Speaker A
So it's my intentions to take the earners that want to learn how to do this through a process of becoming structured learners.
Speaker A
So you're going from yearning to learning, and hopefully, at your discretion and timing, you'll become an earner, okay, so earner, learner, earner.
Speaker A
Okay, so those three stages are what I'm going to take you through, it's not going to be an entire year mentorship.
Speaker A
I'm only going to do probably three or four months, but before we get into it, I want you to know that I will not be providing any content to the YouTube channel or my own personal mentorship during the month of March.
Speaker A
Okay, so March 2022, I will not be doing anything, I'll be on vacation, and we're going to be doing several road trips, so I will not be working for you.
Speaker A
Okay, so if you can accept that, then I think over the next coming months, it should be rather entertaining and interesting for you as a student.
Speaker A
So you're looking at this screen here, and one of the things I promised I would do in 2022 is to show you how some of these concepts would work in an environment outside of a demo account.
Speaker A
I've always used the moniker of demo baller because that's my name, I gave myself that to kind of like champion the idea that I'm teaching through a demo.
Speaker A
But if I can teach you through a demo and things are repeating, you can see your charts, okay, whether it's a live platform or if it's a demo, you're seeing the things that I teach.
Speaker A
And if you've been fortunate enough to be in my presence when I'm calling it beforehand, it's very rewarding, and you all on YouTube will have those experiences as well.
Speaker A
But the main thing is for you not to grow a dependency on me pointing to everything before it happens because if you do that, or if you have that mindset going in, it's going to stunt your growth.
Speaker A
And in fact, it's going to create a barrier for you because it'll create a codependency state of mind, and I don't want that, I try to foster a independent mindset where you're independently coming to the decisions on your own.
Speaker A
So that way the results are yours, if it's success, you own it, if you failed, you own that too, I can't co-sign for your failure, and some of you absolutely will fail.
Speaker A
I've said this many times openly and every time I've been asked, in 2016, I started a paid mentorship, and I have students from that time period that are still trying to find their way.
Speaker A
And they cannot make these things work for themselves, I have other students from 2016 that are absolutely mind-blowing results.
Speaker A
And I have students from my mentorship group that was the final class in 2021, I'm not taking new enrollments, don't even ask, that group, I have traders that are doing very well as well.
Speaker A
So it's not a shortcoming on what is there being taught, it's just an individual unique experience that you have to grow and go through.
Speaker A
And I can't speed it up for you anymore than I already done, so I'm optimistic, but I'm a realist, I know some of you simply will not do the things I ask you to do.
Speaker A
You will not do them effectively, and you'll try to short-cut certain things, and you'll think that you don't need to do this and don't do that, and your results will be reduced because of that.
Speaker A
So if I suggest things to you, drills, homework, things to study, do your best to participate in that, okay.
Speaker A
And even if you can't do it live, you know, there's other ways to go through and look at it, it's not the same as seeing it live, but it's as best you can do.
Speaker A
Because some of you have businesses, some of you have school, jobs, okay, let's be real, and you may have family things that keep you also from being able to watch live data in the times I'm asking you to do it.
Speaker A
I'm not going to jump through hoops, I'm not going to do acrobatics to make it, you know, feasible for every single one of you, okay, it's unrealistic for any of you to have that expectation of me, because I don't need to be doing this.
Speaker A
I love doing it, I'm looking forward to doing it, but I want to make sure all of you have the right mindset, okay.
Speaker A
So in 2022, I promised that you would see how these concepts work in an environment outside of a demo account.
Speaker A
And what would that mean, well, it would mean not, well, not an MT4 platform because years ago, it's been shown how frauds and fakes can use that platform to pretend that they're profitable.
Speaker A
That they can find setups and that their trading is amazing, and they can go in and edit their trades after the fact, after the market's already moved.
Speaker A
Well, I've already proven that I don't do those types of things, and I went to TradingView, and that was the platform that I asked my community.
Speaker A
I said, which, which platform should I use if I'm going away from MT4, I want to go to a platform that's reputable, so I teach, and you'll see me teaching through TradingView.
Speaker A
So that's the medium that we use, it's familiar to me because I'm teaching mentorship students through that, but if that's not your platform of choice, you're just going to have to get used to me teaching through that medium because I'm not going to do something in addition to, okay.
Speaker A
But for a live account, um I felt that TD Ameritrade is very reputable, and that it is regulated by the Commodity Futures Trading Commission and all of the other governing bodies.
Speaker A
Uh I cannot rig this to make it look like I'm smarter, okay, I can't go back in and change a trade, I can't fix it, okay, I can't add lipstick to it, okay.
Speaker A
It either is or isn't a profitable trade, okay, it's it's simple as that, uh TD Ameritrade uses the margins that are accepted and established in the industry.
Speaker A
And some of you may not be able to trade a market because of margin, don't let that be a hindrance, I'll show you how to work around that in other platforms.
Speaker A
While I don't personally use an MT4 account for teaching or or trading live funds or anything like that, I'm confident that students that are trying to learn how to do this, they can still use MT4 or MT5 or any other platform for that matter.
Speaker A
I as an educator though, moved away from those platforms because they can be gained, okay, in other words, they can be used to fraud and fake results, okay.
Speaker A
So in TradingView, you've seen examples after examples of me going in, recording an entry, calling the moves as it's as it happens without the replay button because replay doesn't let you do trade entries.
Speaker A
Okay, and replay only shows you a completed candlestick, it doesn't show you the generation of the open, all the price action up and down to the close of every individual candlestick.
Speaker A
So I've had a lot of folks over the years ask me to show live account, show live account, show live account.
Speaker A
And one of the things that kept me from wanting to do it is because if I show results of any kind, right away, and this is how I viewed it too, as as a developing student in the 1990s.
Speaker A
That made me feel like I'm never going to get it because their results were way above what I could do as a learning developing student.
Speaker A
I had no idea what I was doing in 1992, but to see people say, yeah, I made $50,000 in the soybean market, okay, or I made $80,000 in coffee.
Speaker A
Well, that to me was a very huge mountain to climb, like I have to do that, it just it felt impossible.
Speaker A
But I also didn't want to give results that were so low end that it didn't inspire an interest in having people want to learn it.
Speaker A
So because this business is extremely unique and personal, it's both the easiest thing you'll ever do, and sometimes, for many of you, is the most impossible thing to be successful at.
Speaker A
And that sounds like an oxymoron, it sounds like double talk, and it is, but it isn't, how's that for a rib.
Speaker A
You can't appreciate how difficult it is until you start trading with live funds, but before you start trading with live funds, in your in a consistently, quote unquote, profitable demo trading stage, you feel like you could do anything.
Speaker A
But something magical happens when you go into a live account where now suddenly every little tick means something to you, because it means success or failure on an individual basis.
Speaker A
Whereas if you lose on a demo account, you didn't really lose anything, you can take another demo trade, but with live account trading, you have to deal with that drawdown and that loss.
Speaker A
And making money in an account is sometimes worse than losing money because it'll make you feel like you want another taste of that, and it creates opportunities for you to go in and overtrade and or over leverage.
Speaker A
And both of those things we'll talk about in the YouTube mentorship, how to avoid some of those things, but it's up to you to avoid them, okay.
Speaker A
And it takes a lot of ownership personally and the responsibility that is required to do this is paramount.
Speaker A
You cannot have anybody else take responsibility for your actions, it's your actions, and if you do well, you earned it.
Speaker A
If you don't do well, you have to you have to eat it, okay, it's the way it is, and too many people are weak-minded in this world that they will never become successful traders.
Speaker A
No matter who teaches them what, whatever thing they use, they're going to be a failure, okay, that's just the way it is, and there's no way around that.
Speaker A
I can't fix and improve everyone's shortcomings, I have my own personal issues that I fight and wrestle with internally, and it's not easy.
Speaker A
Like I'm obsessively compulsive, and I have I have ADD, it's all these things, okay, that make it difficult for me.
Speaker A
And I'm bipolar, so I have a lot of mental barriers, but if I can sit down and frame out an idea that repeats at least once a week.
Speaker A
I'm confident that those individuals out there that are like me or without these barriers can do it as well, that's my personal belief.
Speaker A
It doesn't make it fact, it doesn't make it true, it just means that that's my belief, and I've seen case studies in my own students where that's true.
Speaker A
It's a transferable skill, but the skill must be honed by you, the student, so anyway, I promised I would show some results in 2022 outside of a demo account.
Speaker A
So I used TD Ameritrade, but years ago, I was asked to show a regulated broker, non MT4, and I felt that TD Ameritrade was a better choice outside of, you know, the standard forex account brokers.
Speaker A
Because with TD Ameritrade, you can trade forex, you can trade futures, you can trade commodities, stocks, options, you can bonds, everything out there, you can trade it, okay.
Speaker A
So eventually, over time, if you do become successful and you're profitable, you want to go with a broker that allows you to have access to all those vehicles.
Speaker A
Because there's certain times of the year, certain asset classes just aren't going to do very well, but others will, and that's type of broker.
Speaker A
And I'm not repping TD Ameritrade, I don't get anything for it, I'm not an introducing broker, I'm just saying that when I'm showing results in an account that is not demo, this is the broker that I deposited funds with.
Speaker A
So that way, we know what I'm saying here, I'm not telling you to go here and trade, okay.
Speaker A
Um, I have only traded a few trades with this broker, but I can tell you their fills are immediate, their confirmations are solid.
Speaker A
I haven't had any problems technically, it's just I'm fumbling with the layouts, the way things are made available to me because it's just like anything else.
Speaker A
When I'm transitions from MT4, teaching from that being very comfortable with that, going into TradingView, it's just very cumbersome, and I'm I'm still clumsy with it when I'm teaching.
Speaker A
And I'm finding it a little bit cumbersome here as well because I just don't know where they have certain things, I don't know how to make the charts scalable as fast as I want them to be.
Speaker A
And like I'm used to doing it with TradeStation or TradingView or MT4, so it's just a learning process.
Speaker A
But it doesn't change the fact that if you know how to trade, then the trades are easy, so I keep everything very simple, you know, I use limits and markets to get in.
Speaker A
And I just collapse the trade when it gets to a target of my choice, so that's all I'm showing you here today.
Speaker A
It's just to show you that the things I'm going to be showing you are applicable on paper and in demo.
Speaker A
And the same logic is used here, and while this is not a lot of money, it's only $23,694.11, it's not something to brag about, let's just put it that way.
Speaker A
But it's something that's not demo, it's something that won't stay at that level, and my objective is to teach conceptually a hypothetical income-based strategy.
Speaker A
Okay, it's not a trying to beat the World Cup, okay, it's not trying to do better than every Instagram trader out there.
Speaker A
It's just trying to teach how someone can take another opportunity, and hopefully, in the best case scenario, and I can't guarantee or promise it to you.
Speaker A
But I'm going to certainly do my best to do what I know and how I can teach it so that way you can be at least inspired to make an attempt to try, okay.
Speaker A
And because I believe that things are about to get really, really hard for everyone financially, and without going into great detail, just look around the world, you know what I'm talking about.
Speaker A
But this is the E-mini S&P March delivery contract for 2022, okay, and it's a two-minute chart.
Speaker A
And I want you to see the point of entry here, this is a short I took, and the cutter was here.
Speaker A
And another one here, small little scalp, and then here, I'm showing you so that way you can see there was another trades after that short or two shorts rather.
Speaker A
And then today, I slept in, and I just wanted to have something in addition to what I already have here, this is kind of like one of the setups that you're going to learn in the mentorship.
Speaker A
Where the entry is here, and the exit is here, okay, not a lot of handles, okay, a handle would be like 4567 to 4568.
Speaker A
So that's four ticks or one full handle, in this market, it's $50 per handle or per four ticks, so every one tick is $12.50.
Speaker A
Above this high is buy stops, and I was targeting that here, running into that, okay, so very, very simple strategy.
Speaker A
Optimal trade entry, you don't need to get in at this level here, okay, I'm going to teach you how to have forgiving entries.
Speaker A
You don't need to be highly precise about your entries, but you need to be precise about the directional bias and where it's going, okay, where's price reaching for.
Speaker A
And that's kind of like what I'm showing you in this mentorship on the YouTube channel, so if I have at least given you the opportunity to find setups conceptually.
Speaker A
If that's the case, then over time, if you've submitted yourself to it, you'll find more setups than you'd ever imagine.
Speaker A
Like they're there a lot, especially on these lower time frames, so in a nutshell, what am I saying here, I'm saying that if you can learn how to take 25 handles.
Speaker A
Okay, if you can take 25 handles out of a market like the E-mini S&P, you may not have the margin, $12, $13,000, whatever it is to trade one contract of this market.
Speaker A
You don't need to have that, you can trade the micros, and while you're not making $50 per handle on E-mini S&P, you're making $5 per handle.
Speaker A
You can still graduate over time and build that up, and it's not a lot of initial margin that's required to do that.
Speaker A
Or if you're outside the US, you can trade a CFD and trade the US 500 market through like an MT4 account.
Speaker A
And again, I'm just going to touch on that, I'm not suggesting that you should, especially those individuals in the states because it's actually illegal for you to trade that because it doesn't go through a regulated exchange like a futures market would.
Speaker A
So they makes it illegal for US traders to do that, so we have to in the US trade through the futures market.
Speaker A
And they have been nice enough to provide micro accounts for vehicles like the E-mini S&P and the Nasdaq, they have micro accounts.
Speaker A
So whatever the multiplier would be on the regular mini, it's just reduced to a smaller level in terms of margin and tick value.
Speaker A
And I'll cover all that stuff, it's it's I've made it very, very simple, or at least that's been the goal I'm having going into this.
Speaker A
I'll make it very, very simple for all of you to look at it, say, okay, I don't have to have a thousand moving parts, I can go in and simply look at things that make sense.
Speaker A
And if you can visually understand what it is I'm teaching, you'll see that it doesn't require a lot of chart graffiti, okay, things that are very distracting.
Speaker A
Do you look at this chart here and see a lot of things that would be mysterious, no, very simple little things, I'll I'll draw a line to highlight a level that I want to see breached, okay.
Speaker A
And a level where I want to see it reach up into, and that's the basis of understanding how the markets work within a liquidity matrix.
Speaker A
You have buy side and sell side, and once you have that understanding, and I'll teach some of those things in the mentorship, you'll be able to find setups that repeat.
Speaker A
At least one good setup a week, but if you can find 25 handles a week in the E-mini market, you can do very, very well with that, very, very well.
Speaker A
You don't need to hit home runs, and here's my inspiration to you in closing, if we're looking at a market that provides us setups.
Speaker A
And let's just say your mortgage or your rent is say $1,500, it may not be that much, it may be actually more than that.
Speaker A
I'm just going to say, let's just say it's $1,500, what happens if you can earn enough to make 50% or all of that a month going forward?
Speaker A
Would that not be beneficial to you, that's the mindset I want you all to have, or let's say you have a car note, and your car payment and your car insurance.
Speaker A
If you could find a way to have that money come to you by your own speculation over time, not right away, I'm not suggesting all of you are going to be able to do this in the same year.
Speaker A
But over time, if you submit to the process I outline for you, my belief is, my personal belief, my honest opinion is, I believe that it is possible.
Speaker A
Now anyone can say, oh, anything's possible, but I believe the things I'm going to show you are things that you'll be able to spot on your own.
Speaker A
Now I'm going to coach you throughout the coming months, showing you where certain things may deliver, but I don't want you to feel like you need that.
Speaker A
So I'll teach you how to anticipate certain things on your own, and then you check yourself with the things I reveal or do a review with.
Speaker A
And my belief is that you'll be better at reading price when I'm done doing this YouTube mentorship.
Speaker A
And again, I don't think I'm going to be doing more than four months, and that four months is actually including the month of March where nothing, nothing's getting uploaded.
Speaker A
Nothing in my private mentorship or on YouTube, so I will be vacationing that entire month, so I'll be doing those things during the month of March.
Speaker A
And then in April, I'll return back to the mentor that I am in my private mentorship, and I'll return back to the delivery of the lessons on the YouTube channel.
Speaker A
So what does the schedule look like for this mentorship on YouTube, obviously, Friday will be your first episode.
Speaker A
And then it'll be a Tuesday and Thursday upload, there will be assignments and PDF files provided for your learning throughout the week.
Speaker A
I'm not promising any specific schedule on that, but you'll be able to see them if you go to my community tab, I'll provide a way for you to get to the information and download it.
Speaker A
And I think that if you submit to this, you'll be far better than you are right now about reading price.
Speaker A
Expecting certain things to deliver, and you'll find that it's not as challenging when you have a good mentor, and you have sound logic, and it's not over complicated.
Speaker A
And that's my goal going in, and until I talk to you on Friday, be safe.
Topics:ICT MentorshipInner Circle Traderdemo tradingprice actionintraday tradingindex futuresforex tradingtrading mindsettrading educationtrading discipline
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