Pro Trader Webinar - Austin Silver - Spotting Opportunities in Volatile Markets

ities in volatile markets. My name is Austin Silver. I'm really happy to be here. Really happy to see some of you. I see some familiar faces in the Discord already. I know people are piling in. We're going to kick things off today. I've got a couple of things to hit you with, housekeeping things before we get into how I'm using Bookmap. Really, I want to kind of kick this off before I even start with the disclaimers by just saying thank you to everybody for being here. You know, we're in the middle of the week. I know it's summer. I know it's easy to want to be checked out, hanging out at the beach, working on our tan, but we're here learning instead. And I hope that you know over the next hour, you giving me that full attention, you take something out of the webinar. Hopefully that'll help you make more money this week. So, let me read through a couple of things here before we get into the content. First, a quick disclaimer, a general disclosure. All Bookmap Ltd materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. For a risk disclosure, trading futures, equities, and digital currencies involves a substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. So, please read through this hypothetical performance disclosure as well before we begin. Chad, good to see you. Stephen, what's up? David, nice to see you. Pablo, hello. Mac, what's up? Texas, what's up? Uncle Mush, good to see you. Thanks for being here, guys. So, we got a busy schedule this week. I'm here with you today. We've had Fausto on already. Scott was here on Monday. And then tomorrow, you got Massie and then Big Dog Bruce to finish out the week. So, don't miss it everybody. These are the same time as today for the rest of the week here in the Discord for Bookmap. 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It's good to see some familiar faces. Thanks for being on everybody. So, my name is Austin Silver. If you don't know who I am, I've see I see some new people here. So, I'll introduce myself for a second. I am the owner of ASFX. There's four of us really that make up the group. Myself, Randy, James, and Evan. We stream every single day. New York Market Open. We use Bookmap every single day. New York market open. I look to build my trading around my lifestyle. So for me, I don't usually like to trade in the afternoons. I like to be done my trading as quickly as possible. Make money and get out of here. So what I do with Bookmap, what I'm going to talk to you about today, it's going to be kind of focused around that, like maximizing my time for my money, not just sitting here all day and clicking buttons. I know you can do that. And with Bookmap, it's almost fun to do that, but we want to be profitable, not be busy. So we're going to talk about how I do that. And then as you see, I'm also the host of the day trading show. So we throw boot camps, I do the podcast. So we do a lot for the trading community. It's grown pretty popular. We've sold out two of these boot camps. We have another one coming up next May. Bookmap has been a awesome sponsor of both of the boot camps. So we're super grateful for that. And it comes in handy. I mean, last year it was a two-day boot camp in Tampa, Florida. Five-star hotel. It's 100 people in the room. We sold it out. We made money both days. And I showed everyone how I use this VWOP trade called the double break trade with bookmap and I showed it to them live just like we do on stream but in person of course it's more impactful and we made money together. So people not only got free accounts when they came to the boot camp which are you know worth hundreds of dollars they also got free trades right in front of their face. So that's what I'm going to show you hopefully here today too. And then the podcast I interview people like Bruce, people you know that have made a name for themselves in the trading space, whether it's through the trading or the technology or the software. I like to talk to all people on the business side. And then I also like to talk to new traders, struggling traders, sometimes really advanced traders like Scott Pini's been on a couple times. So I I really try to hit the gambit of everybody. So if you're interested in trading podcasts, if you don't know my show, the day trading show, please check that out. I would love to have you give me some feedback on that. I think we got like 4.4 four stars on Spotify. So, it's pretty good. You know what I mean? So, Stephen, good to see you. Chad, what's up, brother? So, with that everybody, as I go here, please feel free to throw questions in. Okay, I am in a long here that we're going to talk about why I like it and we'll see if this one wants to win for me. I've had a couple of good trades already today. So, I'm already in profit on these accounts. I'm copy trading to a bunch of prop firms, prop accounts, but I have a live account here as the lead account. This is a live account with a prop firm called Top One Futures. They are the accounts that I trade every day on stream. So I want you to note that the thing that I do with bookmap is I I usually have it set up like this where I can see my VWOPS. My blue VWOP here is a New York VWOP anchored to 9:30 today. I see these black lines here. That's my opening range high and low. The dotted line here is the overnight VWOP. So I see my VWOPS over here and I keep bookmap to the left. The main thing that I want to stress first is like I am the most simple bookmap user I think you'll ever find in the entire world. I I I would challenge any of Bruce's other hosts to how simple do you use Bookmap? Austin probably uses it in a more simple way. I promise you. So with my [clears throat] settings, which I will show you guys, please ask questions if you do have any. With my settings, I'm specifically using the trader map light. So I'm looking at ES. I don't trade NQ too often. I usually am trading ES. I'm a one asset kind of guy and I do trade options, but I trade ES first. That's my focus. So, I'm looking at the ES, not the MEES. And I'm looking at the trader map light that's helping filter some of the algos, which is something Bruce taught me on like our second, I think, podcast together, second thing we did together. Maybe it was a webinar. I forget what it was. But using that filter has really helped me see heat on the heat map as magnets of orders that I can trade to or trade from. So let me give you an example of what this trade like right now is to me. So what I'm liking is number one, I'm above my New York VWAP. I don't really want to be fighting the New York VWAP. Especially today we had FOMC meeting minutes. Not a speech or anything, but still FOMC is worth noting. Not the biggest FOMC, but worth noting. So, I don't want to be fighting the VWAP. So, if I take you out to like a 15-minute time frame, even more, you'll see I I want to stay on the right side of the New York VW. So, in this case, long. I want to be long right now. When I know I want to be long, I'm then going to look over at the book map and see what's going on either above current price or below. And I look at not just the heat for the colors cuz that's I mean, that's stupid simple. We don't want to be that stupid simple. I'm looking specifically at the COB, the current order book. And I'm looking to see where are the biggest blocks of orders that may that's the key word may act as a magnet. So you can see here on ES7540 has 140 now 150 contracts. As I'm watching that and I watch them add contracts on there. It makes me think it's likely that price wants to move in that direction. When I see less orders on below, the biggest block we have is like 111 here, 100 here. So it's smaller than this one. I'm watching those numbers to see if they stay flat at that current number or start to decrease. If they start to decrease and the orders come on above, I get more and more confidence that we're going to move into that block above me. And I can start to see the more that I watch this like these orders coming on and off here. That's alos in my opinion even right above current price in here and below a lot of this is algo driven orders above and below current price. So I'm not getting distracted by that. I'm not even getting distracted by the volume bubbles that I know you can put on. As you can see, I have no CVD on here. I have no stops, uh, icebergs. I have nothing. One of my business partners, Randy, on stream every morning, he's looking at that stuff. But for me, I keep it stupid simple and it works for me most of the time. Nothing in trading is ever going to work 100% of the time. If my 11 almost 12 years of trading has taught me anything, it's that nothing works 100% of the time. But with bookmap, with using the heat map the way that I'm explaining it, it often does help me know where I should be taking profit, where I should be looking to trade to. Let me go a little bit deeper and explain something else about these magnets about like the heat that I'm looking at. And again, there are people in this discord for bookmap. There are people on the internet that use this way different than me. And that doesn't make me right or wrong or them right or wrong. It's what works for me, how it complements my VWAP trading. Cuz if you asked me, I'm a I'm a VWAP trader first with like opening range and bookmap as like complements to what I do at its core. I'm a New York VWAP kind of trader. That's where I want to be. So, just to go a little bit more into like how I'm looking at these orders, something that I'll often do, especially at this point in the day, is if we see this block of orders at 75.40, I'm not necessarily going to marry the trade and need to hold it all the way into the 7540. I'll frontr run my exit and try to get out of that thing at 39 sometimes because it's often, and this is just my opinion, it's often that in the afternoon it'll try to fill those orders and it won't make it all the way there. So, it's just something I always want to be cautious of. And I always will have a stop in place with these trades. A stop at the point where I would first of all not want to lose more than that financially dollar-wise. I'm always thinking about that. But more it's at a price level. The position size determines the dollars that I lose. The the stop itself is at a price level that I think the trade idea is invalid or I would want to reestablish the trend or reestablish what side of the VWAP I'd want to be on. So in this case, at this point in the day, if we pulled back 20 points, almost 15 points lower to New York VWOP, I would not want to be in a long up here anymore. So that's why the stop on this trade right now is around that 7507 level, 7506. So I'm using the heat to know where I could be taking profit. I'm not using it to determine my entry necessarily. Let me give you an example of this from this morning. You can see this morning we were short near New York open. So you can see these entries here from 7508 down to 7503. You can see those trades on screen, right everybody? So let me take you back to 10:30 this morning on the bookmap. We'll stretch this out and I'll show you what it looked like so you can see. We'll scroll back here. This is one of the cool things I love about bookmap is as you scroll back the co the order book will will change. It will show me what it looked like at that time. So now just to to to my point about these big order blocks, right? I took the entry here at 10:27 this morning. I trade a one minute chart and if you come to my stream every day, you'll see me do this. So I take this entry at 10:27 as that New York VWAP is trending lower. Everything's trending down. So I'm like, okay, let's let's take the the VWOP trend continuation play today. Trump is bearish with this war news. So I'm like, I don't want to be bullish. I'd rather be on the downside of this thing on the on the opposite side of it. We also had a double break in play which I can talk about in a few minutes. But just looking at this, if I scroll this back to like 10:15, you can see what I'm talking about. You can see first orders above at 25 that would be up here. Those orders did not fill as you can see here. And as they didn't fill and price pulled away, it got thinner. See how that heat starts to die down. And what ends up happening? Orders start coming on down here at 80. orders start getting thicker at 92. So, as we are looking at the potential short at 7508, which I was in the trade right before 10:30, this is what it looked like. So, you can see it here. It's starting to get heavier and heavier down there at that 7480. So, as the trade plays out, where do we see orders go? More and more below. Now, we're at 130. Are you watching that COB number here, everybody? That's what you should be watching. So, as that's starting to increase 133 now, that's telling me more and more that this wants to pull down. Look at look at it now. You see how it's getting hotter and hotter. So, it's starting to give me a magnet to trade toward. But like I said, I'm not married to trading into that level. I'm using it as like a heat map. I'm using it the way that Bruce and everybody described it to me to kind of guide me, but I'm not married to it. You know what I'm saying? And then look, look at how thick it gets down here. Now, they're trying to get that price lower. inevitably it fills those orders right there. So that's the way I'm using the heat map. So now we're going to watch and see if this trade we're in now, we're basically at break even. We're going to see if this wants to make a move up into 7540. Why? Cuz look at all the orders all the way up to 7550 on the COB. That's what I'm looking at right now. Nothing on beneath us. Not heavy enough to pull us lower. So, even though we're later in the day and I'm far from New York VWAP, I'm still thinking the right side of this trade is to be on the upside for the drift higher. This VWOP here on screen, that's previous day New York VWOP. So, that's telling us who's in control since 9:30 yesterday, buyers or sellers. So, what we're seeing here is anyone that was long basically since yesterday is now back to break even according to that VWAP in in terms of trading US equities, you could say, cuz this is the S&P 500. This is ES right now. As the day goes on, it's 2:45. We have not too much time left in the um Eastern time. So, it's 2:45 Eastern. I know you guys are coming in from all over. We're just going to watch the book map very closely, and if we get any type of move in profit, we're not going to be greedy here. You know what I mean? Like I said, there is 150 contracts up there at 75.40. 40, but I'm not married to getting this thing all the way up to 75.40. We're at 75.25 right now. If we can get 30 35, I'll be happy with that at this at this point in the day. If it was like 9:30, 10:00, 10:30 this morning, of course, I would want to run more of a move out of it. But the later we get in the day, the more I want to derisk, you know what I'm saying? And get green. Just get something green out of it. I think, you know, on a psychological perspective, day trading is very difficult, but it's often because people give back money, not often that they just can't win. Most of us know how to win certain trades. Like, you'll find a strategy eventually that aligns with you. You'll trade that strategy and you will win, but it's about the losing trades and about giving back those gains. It's those mistakes that end up holding traders back and preventing them from growing. It's not usually a lack of information. You can't say it's lack of information when you have tools like Bookmap. There's no way you say the the determining factor in trading success is information. It's not. Sometimes more information holds you back. So often what I look at when uh when I'm talking to a trader who's not making as much money as they want or just a struggling trader, maybe especially in the prop trading world that I'm in, like guys who are not taking payouts, maybe some of you are prop traders, tell me in the chat if you are, but like when I'm talking to guys that are not taking payouts, it's often not the wins that we have to adjust. It's often the losses, the extra stuff. They don't derisk. They don't think in a perspective of loss. They only see the potential reward and that ends up leaving them with too much risk on the table. I think a lot of the time trading issues could be boiled down to three buckets either like your entry signal, your trade management or your position size. Like I think you could break it down into a couple of buckets maybe and dissect it in more detail on an individual basis. But at its core, it will come back to the way someone handles losses determines their success overall. So, can you size down when you need to be sized down? Depending on the time of day, depending on what you're doing, right? Can you take profits when you're in profit, not marry the trade? Like, there's just certain things that you're going to have to rewire your brain to doing differently, I think, if you want to be successful long term. Marcel's a prop trader. Nice. Chad said, "Yesterday made 300, lost 400 today. Should I stop it or make it to break even?" Lucid trader. Nice. Lucid's good. Yesterday I made 300, lost 400 today. Should I stop or make it? I don't think you should be trading the P&L in that way. Chad, I think some people would tell you to go keep trading it and everything. At this point in the day, I wouldn't be. I would just take what you did today, come back tomorrow, trade the week. If you trade the day, you end up being in what I would call like an overrisisked position because you end up trading for the P&L today, which ends up you taking too many trades or taking too much risk. But if you trade the week, or what I would like to rather you do is even trade the month, then you'd walk away. The question more should be, Chad, do you want to wait here to see if you get another setup that fits what you should be trading or do you want to just call it a day and go enjoy your life with your family? You know what I'm saying? But I think there's something to be said about different times in your trading career. There's a point in every like I think about when I started trading. If you go to my YouTube channel, everybody, it's ASFX. Uh Dan can probably put it in the chat. I got a playlist there of bookmap videos, but I also have a playlist from our boot camp sessions, the the thing I told you about that we're hosting in Florida. It's 100 people we did in the last two years. It's sold out. And in the first one, I talked about my journey. You can go watch it. It's like how I got started in day trading. And I think about the reps that I did and the hours that I spent when I lived in that apartment by myself and the markups that I would paste, print and paste on my wall, tape them up on my wall and study them, like how many reps I did and how much I think that made a difference in my trading long term. So, I think a lot of people just underestimate the the value of doing a lot of reps and seeing it on a month-by-month basis. We get too zoomed in on a day-by-day basis. It messes up the way that we trade. We we trade too greedy in that way versus just survive. Just make some money, survive. Like I can pull up I'll show you. I mean I have some really good stats over the last couple of weeks. I have a live account with the trade you see right here on screen. This is my top one futures account, but I'm copy trading to a bunch of prop firms. So I have this live account uh documented and linked here in my tradezella. So I can show you I I just put a YouTube video up about this though. But this is my stats on the live account going back into about a month now. A little bit less than a month. So if you see in June every day was green. No outsized green days though. a good week here over those four days. Nothing's like overly outsized. One red day so far this month. So, the stats on this account look really, really good. But this is 12 years of me trying to master VWAP scalping in some capacity. You know what I'm saying? And now with more information, it's helped me become a higher win rate trader, specifically with things like Bookmap. It's helped improve my win rate a lot. Yeah, it's a good win rate. I mean, I still lose trades. I don't want to ever give the illusion that I don't lose and that I don't have red days. But as you can see, like it's a live account. Can't delete trades from it. You know, the prop firm can verify it. So, I do pretty well. But, I mean, if you look at the stats of my trades, I can show you like I'm I'm a quick trader. I think this is where the money is being made right now. So, if you look, average whole time on all trades is an hour and a half. In my wins, an hour and my losses, way too long. 4 hours and 30 minutes. But again, about an hour trying to be in and out an hour. And sometimes that's with a small piece of the position. And I'm usually out of the full position quickly, as quickly as possible. So, we're going to try to get some green on this, everybody. Let's see. Are we going to make a push, chat, into 7540? It's got 150 contracts on it. If this previous New York VWAP, previous day New York VW wasn't above us, I'd be like, nothing's going to stop us. But it's this previous day New York VW that's right above us. But I see more orders coming on above than below. So, I'm thinking we can get a little juice here. We're not adding too many orders down at 7500. 150 still here at 7540. And I'm also looking at time of day. Again, this is like a just a feel thing from all of my years of trading. I'm looking at right now it's 251. So in my head I go 9 minutes until the 15-minute candle closes. So if this can push for 6 minutes of those 9 minutes, I'll [ __ ] take that. You know what I'm saying? I'll take a nice little surge here into the end of the day into the 7540. Let's go. There's 7530. Now it's got 155, 154. So I'm just watching the COB here, everybody. You see, I'm just watching that right there. And I'm watching below to see if anything super heavy comes on below. I have this trade copy traded to a bunch of accounts, too. So, but it's this VWOP. That's all it's doing. It's this VWAP. Remember, I said 75 35 would be great. 40 is a stretch at this time of day. 35 would be sick. See if we can give it eight more minutes. Let it cook a little bit longer. Thanks for the wisdom. By the way, what are your thoughts about VWAP bands? Good question, Chad. You know, I had Chris Dale at my uh event last year. I don't like saying my event. I don't know why I just said that. At at our event last year, and Chris is a VWOP band trader. I really like Chris. I've had him on my podcast a couple times. Chris's interpretation of bands works for him, but I can't scalp like him. He's he scalps faster than me. I'm not that fast, as you can see. Like, I still hold trades sometimes for an hour. So, I I'm not that fast. And then that hour also includes Asia session trades, which I hold it I've held those for longer. New York trades are even faster than an hour, but still Chris is fast. The bands weren't taught to me because I'm an OG Brian Shannon VWOP guy. If you go to the boot camp playlist on my YouTube channel, you'll see Brian Shannon's video. It's got like 70,000 views. His keynote was amazing. And that's the essence of the way that I trade VWAP. It's got 70,000 views cuz it's good. I even said to him at the boot camp last year when he finished, I was like, I think that was the best concise hour of VWOP I've ever had I've ever seen. And that's why it's already, like I said, 70,000 views. It's barely a month. So, I would say if you're a band guy, you talk to Chris. If you're not a band guy, you go and study Brian's stuff and study my stuff, you know. Do you limit how many trades per day you take? Like max wins and losses? I don't usually limit that anymore. I think for new traders, you should, though. Like if you're not where you want to be with your trading, you definitely should. You have to have a lot of control. I think you know self-control, self-regulation, you know, CB mixing is a good question. If you if you asked [clears throat] me what's the most important characteristic for profitable trading as someone like I've taken think I'm on 50 or 60 payouts now just from this account. I I can tell you self-regulation is the most important thing to think about because if you can regulate your emotions, your bandwidth will increase over time and you'll be able to trade more. But if you have no self-regulation, you'll constantly be on tilt. You'll constantly be on the emotional roller coaster. When I started trading, I could not trade all day. Number one, I would trade for the money, so I would burn it out. And number two, the mental bandwidth just is not there to make decisions like that all day. But now, so many years into this, I've there's way more days that I've traded than I've missed. You know what I'm saying? I've missed holidays for trading. You know what I mean? Not actually, but you know what I'm saying? Like I there's not days I miss. So, I've had so many reps now that that's where I think it pays off. So, I I I get the bandwidth to now not have to limiting myself into how many trades cuz I know I I know I don't have to tilt. My tilt days are far and few between now. But, it wasn't always like that. So, I don't want to I don't want to say that and have people think that I'm different than someone else. Like I'm the same as a new trader. I just have more years. It just makes a difference in this game. It's crazy. The more time you spend, the better you'll get at managing the accounts, managing the money, not going on tilt. But in the beginning, it's super tilty. It's super emotional. But I think that's where getting with a good community helps. And like getting around good traders helps cuz then you get their experience. It like rubs off on you. Their habits, it rubs off on you. You know what I mean? What other questions you guys got for me while we watch this thing cook? Still got good contracts up there on 7540. So, I'm sitting for a sec. [snorts] Four more minutes until we get to 3:00. I don't think we have anything coming in at 3:00 on the news, but we'll check. Hey, Austin. Can you hear me? >> I can hear you. What's up, Bruce? >> Yeah. No, I'm just wondering like uh when like these uh last well several months, I guess, uh uh with the volatility uh how do you trade um differently? >> I think you just have to be more scalpy. That's where I think I'm finding success is like not marrying trades, trying to be in them all day with Trump and the way that the markets react to his tweets and the way he says things. Being in trades is almost riskier than not being in trades. So, it's like I would not want to be in a position just hoping it reaches some profit target. So, I think I've adjusted in the way that I'm taking profit. You know what I mean? I'm taking profit quicker in some of the prop accounts that I'm trading. trading them heavier to get them past get the evals done faster just because I don't want to be stuck in this trade that I needed to go x distance in order to get more money out of it. You know what I mean? Trying to make the money in shorter distances if possible. >> Okay, your voices aren't clear. >> Well, I'm not working. Okay, I need to unmute I guess on uh Streamyard. >> No, >> let me see. Yes. Yes, let's do that. All right. Okay. How about now? Can you hear me now? >> That should be good. >> Okay. Um, no, I'm just So, that's interesting. So, you come from the kind of school of uh with the volatility uh you're not widening your stops. You're actually maybe making them and your targets smaller. Uh, and then so you're in and out >> trying to Yes. I think in some of these days, Bruce, where the range in the first 15 minutes is huge, then I've had to go with the wider stops and size down, which you just have to be comfortable with, you know? And I think when you don't know what you don't know as a new trader, you don't know what it means for different environments. And then, like I was saying a minute ago, more reps, you start to go, "Oh, I see what he means. These are bigger range days. These are tighter range days. So now I can adjust my size so my risk can still be appropriate no matter what the range size is. We just have to know how to adapt." And that's where position sizing and stop loss placement is, you know, something that needs to be understood. >> Price rotates back to overnight VWOP recession VWOP during RTH. What specifically do you need in the book to treat it as a whole versus fail? It's a great question. It's a great question. Let's actually use an example of that. Love this question. Iona, I hope I said that correctly. I'm going to pull up ES and we'll blow this up. We'll get rid of bookmap for just a second. So the question is about the retest of overnight VWOP like here which overnight VWOP is anchored to 6 p.m. the changeover of day back here. So I would tell you the way I think Brian explains it the way that Brian teaches it is that VWOP's never going to be respected perfectly. So anytime we approach a VWOP, you should always kind of expect it to play around almost in a way like this. Which is why today we didn't get sucked into longs here. we were able to actually be short on stream and everybody made money with us short. So I think if you understand that it's a zone almost around the VWOP which then could bring in the question of using bands which like I already said what I feel about that but I think if you just respect the idea that it's never going to be exact Iona then it's okay you know what I mean cuz then you can understand well I would like my thinking on it today was I would rather lose that's always what I'm thinking where would I rather lose I'd rather lose shorting here thinking there's another leg and I said it on stream I'm like we're not going to get new lows I'm not anticipating a break of this low but something back down this way off of that VWOP is likely after a strong move down like this pre-market. That's what I'm anticipating. I'd rather lose that than be long here, but it's really a lower high and it comes down. So, I'm always thinking from that perspective, too. So, maybe that will help change the way that you're thinking about it a little bit. Maybe if it doesn't help, please ask me another question so I can clarify more. It's a good question. All right, 3:00. We're back at this VWAP. I'm going to take this trade off, everybody, and just take that small win. two points there. And I'm going to hold it in this account here. And let's pull this bookm back up. Let's see if we can get to these 7540s. 7530 now. And you can see what I'm talking about. Like watch how the 40s don't budge. Now it's at 142 contracts. So 10 of them came off, but it's not budging. And nothing is coming on down here. So that's telling me this wants to go here. So that 40 would be right here. Let's drag that up to 40. Put this down there for now. >> Place. >> Okay. Let's see if it wants to make a move here, Bruce. Okay. Can you touch on how you place your stop and then manage the risk once in the trade? I don't trail the stop. As you can see here, I just took that trade off. I just take the trade off. I'm That's what I'm saying to Bruce about how I'm trading it different. Trailing stops gets me screwed all the time. I can tell you this is the exercise you should do. I'm not going to tell you what to do. Shark. You figure it out for yourself. But I will tell you this is the exercise that has helped everyone figure it out in our coaching program. As you trade, I like to do my stuff on Trading View. You saw that, right? As you trade, I want you to mark up where you get out of the trade and where you want to get out of the trade. So, like let's say, while I was in that long right here, I wanted to get out of it right here. I would put on the chart a little text bubble that says, I wanted to get out here or I did get out here. And then you come back and mark it up. And as you do that, I think you start to build the idea into your head that there's always going to be another trade. So, there's no use in trailing stop. And often where you think you should trail the stop, if you put that note like I think I should lock my stop here, it's where you should get out, right? Like if I would have trailed the stop here where I just got out, it probably will end up stopping me at that break even price. Most of them end up coming and stopping you. So you're better off just getting out. I hope I'm being clear on what I'm saying. Just it's better to be scalpier in this environment. Do you feel the setups work better in certain regimes at times? So Zeno, good question. So back to the the double break trade. So the double break trade played out today. I I'll show it to you and I can teach it to you in 5 seconds. And it has uh bookmap as a complement to it every single time. So basically what you're looking for is this. This price action you're looking at is ES everybody. That's what I'm showing you. It's on the one minute chart. And this is 9:30 right here, that white line. So the high and low in the first 15 minutes are here and here. It's signaled that with those black lines, the black horizontal lines. So we're looking for the first break of the range here. First body, first pin, doesn't matter. After the range is set, after 15 minutes, 9:30 to 9:45, first break. The double break is trading the opposite side of the range. Trading to the opposite side of the range, but we're not going to take the trade until we break New York VWAP like we do here. So, we break that blue VWAP. So, the price to be in the trade was 7511. You could have been in it here and then you can see where I took the position here. I I was in a little lower at 08, but out of it here at the bottom at 03. That's the double break trade. Once the buyers are faked out and induced to buy the breakout, you're getting short once we take New York VWAP and you're getting out where their stops are here at opening range low. That's the double break trade. And you'll look for this trade every day. It will work a lot. So to Zeno's question, do certain setups work in certain environments? This trade is crushing it right now. It's crushed it through April, May, and now June and and still into July. But I can tell you from trading this for years, it worked better 2 years ago than it did last year. So it has come and gone as market cycles have market environment has changed. But if you know the double break trade, you can add the break and retest trade. You can add a reversion VWOP trade. You can add a few other trades to your tool belt so that in any regime you kind of know how to use VWAP with bookmap to find an entry to find a way in. Like when we're trading a range, bookmap comes in a lot of handy cuz you'll see orders stacked on both sides of the range and I'll know that's where I want to have levels, stops, and take profits. How do you trade evals then funded your position sizing and risk worth? So Chad, right now I've had this live account with top one futures. I've taken like I said 50 almost probably 60 payouts from them on this account. I have that copy trading to a bunch of evals and instant funded and stuff. So right now it's all the same risk. It's all relatively low risk. It's just a slow stack to get it all done cuz it's so many accounts and I've never done copy trading before. This is my first endeavor. But before that I'm slinging evals and trying to pass them as quick as possible. And most of the time I'm buying instant funded accounts. I like instant funded because there's no eval. And when I've already taken payouts, why would I spend time in an eval? Time is more valuable to me than the few extra bucks to buy the instant funded. Like I was a part of Top One Futures when they launched. We help them, you know, build a really solid instant funded account. A lot of other firms have one similar now. Instant funded is a great option. So, you know, so so this is kind of box theory where box is the first few minutes and you're waiting for a break. I'm not familiar with that, but that's what I'm doing. Like I can show you specifically. ready. I actually have a little presentation put together that I'm going to uh film a YouTube video on, but I will show it to you guys right now. So, this is just a few of the markups and then we'll come back to that trade in a second. You guys should be able to see that fine. So, like this is a double break trade a few days ago. You can see the before and after. So, it's the essence is inducement break of one side of the range. So, you have to wait for the range to be set. Then it's inducement to one side of the range. Then once we break the New York VWAP with that's the entry signal. The stop is at the higher low of the session and you're trading to the other side of the session, the higher low. And then you can see this one dumps beautifully. So I'm not going to just show you all wins of course, but these ones ended up being good. The other side of this trade is a break and retest. Here you can see the double break isn't in play. VWOPS are trending. Everything's moving higher. So we're waiting for a pullback to VWOP and then we're getting in for the move here back higher. Right? So that's the other side of this trade. But the double break at its essence should look like this. A strong move inducing people on one side of the range. We're waiting. We're waiting. It takes New York VW. Sellers are stepping in. We're trading out to the bottom of that range down there. See that? And then here, I'll show you one more. This was this week. Broke the top with a pin. Closed under New York VW. Tried to move lower. It didn't. There was a trend here to the upside. So, the double break wasn't in favor. It will still lose. Like I said, the the better trade was the break and retest. But if you're someone that's taken all the double breaks right now because you're following me and I talk about it all the time, you lose this one. But we're going to lose trades. But I think with some discretion, like here, this is a good example. You can spot like you're not going to do anything on a day like this. When the market moves in one direction and then moves back in the other direction and it's just moving sideways like that, that's not where we're going to make our money. Maybe later in the day on a day like that, but not usually. So all this is explained to my YouTube channel. I got a lot of stuff on my YouTube channel. More questions. I like the questions. Please [sighs] still in this long on uh my alpha account here too from 75 25 75 75 25 75 looking for 40. Orders are stacked on 39. You can even look for 39. It'd be nice if we could all get it together on the webinar. Yeah, Bruce. >> Yeah, Austin. Um, so, uh, you're still, I mean, it's interesting because a lot a lot of guys like, uh, trade the prop accounts, um, with very, very tight stop, uh, and just take lots of small losses. >> Uh, you you look for your setup and then you actually give it a lot of room. >> Uh, and, uh, uh, and then and then just stay in it until it hits target or >> um, you know, uh, or you get stopped out. >> Mhm. >> Okay. Okay. Um, I mean these ranges are are pretty big. Are there times when you're just like, okay, I just want out of this trade. It's not going to hit. >> Absolutely. Like sometimes the range is too big and I'm like, I'm not going to take the double break right now cuz it's going to need a 27 point stop loss and at this time of day I'm not getting 27 points to the upside. So, it's not worth it. You know what I mean? So, yeah, absolutely. It it'll look there's definitely better looking ones than not better looking ones to to to say that about the setup for sure. >> Okay. Um, so, uh, uh, and then what if it, if it hasn't hit target, like what makes you want to get out? Time. Usually I want to be done by 11:00. So, if I can if it's getting close to 11:00 and we're about to pack it in for the day, I'm going to go do my workout, going to go do my other stuff. I'm done. My whole thing with trading, Bruce, is like I'm not the guy that's ever going to make the most money. I'm not going to ever be that guy. So, I just want to be the guy that has the most time freedom. So, I'm always going to market and push my focus to that, not making the most money. I can make a good living trading from 9:30 to 11:00, you know? So, I'm going to do that rather than force it. So, if I can get into a [clears throat] trade, be in profit, be out of it before 11, I'm a happy guy cuz I know I can do that on repeat, you know what I mean? >> Okay. So, and then you're potentially just taking maybe one to three trades then or something like that. >> Exactly. Some some days like I'm getting up earlier and we're running a little stream doing like this week I'm pushing the bookm sale really hard. So I'm getting up early running a stream pushing bookmap and stuff. So I might take a pre-market trade but I'll size it down. You know what I mean? And I'll come in and try to hit my full-size trade during the New York session on our main stream and then be done be out cuz that's where this double break trade's working really well. Like specifically about like if you go to my YouTube channel for the viewers and you go to my view uh videos here, you'll see everybody like it's a lot of double break. If you just scroll through VWOP strategies, the best VWOP, the best VWOP, like lot of double break, double break master class, my keynote from the boot camp was on this trade. So, there's a lot of research into this double break trade. So, once you're seeing it and studying it, it it usually presents and is done by 11:00 a.m. like today. So, you just you can be done. You don't have to be trading all the time. >> Okay, great. >> Yeah. >> Question. Usually a trade is taking long to play out, usually loses. I agree. That's why like that trade we were just in, I closed some of it here. The trade we are in right now. I closed some of it on the copy traded accounts. I'm still in it on this account because I think that's a like time is a variable in trading. That's very important to factor in, you know, and not just for options traders, just for anyone in general. I think as a day trader, I don't have a lot of wins that I sit in them for a long period of time in draw down or near break even. So, good point. What else, Chad? That looks good. You know, for everyone here, my stream is free every single day and I have Bookmap and I'm using it every day, calling out the way that I use it. But there's nothing that beats getting it yourself and watching it and studying it yourself. Nothing. So, if anything interests you, like this double break trade interests you, get the bookm pulled up and watch the double break levels. Use the opening range levels for this double break trade and see it go from level to level. You'll see it every single day. You don't have to come to my stream to do it. You can pull it up on your own bookmap and see it for yourself. I promise. Still contracts up there at 75.40. So, we're going to still be on here for a few more minutes, everybody, and see if we can get this thing moving. And I'll take any more questions, Angel, for uh the stream. It's www.asfx.biz/first. That'll take you to our free month and we're happy to have you. You'll see we're we're on there every day pushing bookmap. Randy, like the guy I was telling Bruce about before, he uses the MBO bundle. So, he's looking at the stops, the icebergs, he's looking at all this other stuff. He's looking at the delta. It's way more than me, you know? So, like it's uh it's good. It's it's a lot of fun seeing how many trades Bookmap can generate for you. So, you get to be picky. I like to use that as an advantage to myself. I know how many trade ideas I can get using Bookmap. It's never a lack of ideas, that is for sure. So, it's about finding the better quality ideas as best we can. But I'm very interested in how this plays out. I'm out of that trade here. This ends up being a nice little exit. Could have gotten it a little higher. 32 was the highest. I got out at 27, but I'm still in it on one account here on this alpha account. So, we'll see. Let's keep an eye on this. >> So, what are the other uh uh VWAP lines you have on your chart there? >> Yep. So, it's just today's New York VWAP, yesterday New York VWAP, and then overnight last night, which is like 6:00 p.m. Eastern. So, just three. >> Okay. >> Yep. >> And then high [clears throat] and then high and low. >> Yeah. The the black lines are the opening range high and low. Yep. Do you ever have anchor if you have like Brian's hand off? So, it's funny you say that, Shark. I I play with the handoffs, but I don't trust them. And that's what Brian talked. If you go to my YouTube and watch what he talked about at the uh seminar, we're playing off a handoff right there. The handoff would be the last touch of the New York VWOP, which happened at 12:39 this afternoon, Eastern time. So, you'd put a VWAP on there, and you can see we're hitting it right now. So, you could say there's some weight in it since it's been a few hours. But sometimes I'm putting these handoffs on and and they're so quick, I don't trust it enough, Shark. So, that's why I'm not 100% on handoffs for day trading. I think for swing trading, which is what Brian primarily does, I think absolutely makes sense. On the double break, is your entry the moment the retest? No. Good question. I the the entry and if specifically on the YouTube channel, I'll send you the video where I have like a text slide. The entry is when it breaks this one. When it breaks the New York VW and I like to use a one minute chart, Randy and some of the guys do a two-minute chart. You'll see it on stream, but that moment it breaks, that's and closes through, that's when we're looking for the entry. So, like specifically today, you can see I took the position here. There's my entry. that red line. It was in this candle. As soon as this red candle closed through the blue New York VWO, bang, I'm taking the position cuz I know I got to be in it. So, you use the break as a confirmation. Exactly. Cuz sometimes like you don't want to get stuck. There's been examples. I don't have any off the top of my head, otherwise I wouldn't give it to you, but there's been examples where if you get into it too soon, it ends up moving against you. You take on too much draw down. You just don't need to be in against the New York VW. Back to what I was saying at the beginning, like being with the New York VWAP, like even the long I was just in for two points, it just makes you easier money than being against it. When we're above that blue New York VWAP, I'm looking for longs. I'm going to make easier money. Should we only trade reversal on VWOP or ah, dude, I wouldn't even try reversals, Chad, unless it's like your personality, which it's not for me. I wouldn't even try it, you know? That's just my opinion. Like, I have opinions about trading. Actually, Bruce, I didn't tell you this. I'm working on a book. It'll hopefully be out by the end of the year about my way of trading. And like I just think that there's certain things new traders should do that the internet and the common knowledge does not tell them to do. And I think as a new trader, you pick one asset. You trade in my opinion a trendbased strategy. It's easier. And I also think you either pick long or short. And you just trade long or flat or short or flat for like a month, maybe two or three months. And that helps just build a rhythm of hitting wins, getting on the right side of things, and building good habits. No one's going to want to do that cuz everyone's going to want to take every other trade. But that's the advice that 12 years of doing this would tell me to tell people. You do that, you actually build confidence for once. And I think that's where you really start to see sky's the limit. So if you're struggling, you're looking at longs and shorts and flat. It's three decisions. I like to just take one away. It helps. And then the trend following thing is just be on the right side of VWAP. Just don't fight the VWOP. you're going to have every instinct in your brain to want to wire you and fight the VWOP. Don't. And often you check the bookm cuz bookmap won't have orders in that direction. Bookmap will have orders trading with the VWOP. So you'll get the confluence to not fight the VWOP. I think trendbased VWOP like pullback to VWOP with bookmap is one of the easiest strategies, but it's the extra stuff that traders do that then ends up giving back money, giving back losses, creating confusion. So it's simple, simple, simple. I I I can't stress that enough. I've had people come to the stream [clears throat] and it's a it's free for a month, so it's not expensive. And then it's $100 a month. It's not expensive. And they tell me it's too simple. It can't work. And they leave. And then they come back 3 months later and go, "I don't know why I thought that." I go, "Yeah, I don't know either. It's pretty crazy to hear that. I've heard it multiple times in the last two years. It's crazy." So don't think profitable trading has to be complicated. I would argue it's the exact 180°ree opposite. The people that are like myself that are taking consistent payouts, I just interviewed a guy today for the podcast, five figure payouts every single month the last year. They do the simplest stuff, the simplest strategies, the simplest bookmap. It is not the most complicated. Some guys do well with the most complicated, but I see the guys who are taking payouts. I talk to a lot of influencer traders. Simple is what the real traders are doing. I think some people over complicate it too much. Iona, how do you size these trades? It's really up to you. I'm not going to give position sizing uh tips. You can come to the stream and watch me size it. The positions you see are on my screen. I'm trading a 10K account and there's five micros and eight micros. So, less than a minute, but I'm not going to give you a size, a flat size. It should be a dollar-based risk. Everything in futures trading, in my opinion, is dollar-based. I'm going to risk 500 to make a,000. I'm going to risk 500 to make 300. Whatever. It should just be dollar-based. And then you adjust the contracts to that dollar amount that you're willing to lose on the trade. Good. What other questions? More. How can I help? What else can I do? So, we're in this. We're profitable now across a bunch of profit accounts. Like 1,500 bucks today, which is good. And then still sitting in this one here. Had some good options trades today. Doing some options as well. It's funny. I'm using ES on the bookmap to trade my options cuz it's like the same thing as trading spy. So, it's fine. What copier do you use? We uh we're announcing a copier partnership uh on Monday Shark. So you'll have to come to stream and uh and check it out. He thought the anchor view your thought on anchor view of highs and lows. Good Chad. I like the questions bro. My thought on anchor VWOP at high and lows. It's about how long since that high and low has been set in. For example, today you could put a high VWOP for New York session high now back here at this point which is 2 hours ago. I like that it's 2 hours of time and price in that VWOP. But if it was like right here, I wouldn't trust it for anything, you know? So, it's really just about how long has that VWAP been in play. But you'll never come to my stream and hear me go, I'm scalping this high a day, VWOP long. I want my entries as close to New York VWAP as possible. That's why I got out of this one where I did cuz I'm so far from New York VW. So, I think that answers that question. [clears throat and cough] >> [snorts] >> Good, good, good. >> How about uh uh Austin? Um if you can go through maybe like uh >> uh your planning for the day like what what do you do uh pre-market uh when you get set uh to trade? >> So typical morning is wake up, check my trading view from my phone, just see what's going on, see if anything moved, check Twitter, see the news, see if anything important's coming through. seeing if the world's ending again with the war or whatever. And then I work out and I'm looking at my laptop and I'm just watching ES. I look at the metals, I look at ES, I look at NQ, I look at Bitcoin, and I look at the Mag 7 and that's it. And then literally, I open bookmap and just [clears throat] start watching the heat map. That's the most important thing. I don't have a crazy pre-trading routine like some people think makes them more money. Coffee. You do coffee, get a little workout in. I get a good workout in most days and then we start our stream at 9:30. So, usually like [clears throat] if I take a trade, it'll be between 7 and 9. I'll try to get out of that trade. Like yesterday, I got out of it right before market open. It was good. And then I'll look for another trade once we get into the New York session and get going. Simple, Bruce. Simple simple pre pre I don't I got nothing fancy. I don't do any more of that meditation stuff. I'm not doing yoga. Nope. No none of that. Just wake up, read VWAP. Don't over complicate it. Every time I read the news, Bruce, and I distract myself with some stupid bias, I end up missing good trades. So, all I do, all I do is try to keep it simple and question myself every single time I start to think, hm, longs, hm, shorts. Try to see the other side of it cuz I want to make sure I'm not fighting VWAP, not fighting bookmap. I'm trading into orders. I'm trading with, you know, VWOP trend. That's where I'm making my money. But this comes from a lot of study, everybody. Like, I'm studying where I'm making money. I use Tradzella every day. I'm documenting all my trades. I do replay mode of all my trades. Like I study my own actions, too. I'm not willy-nilly with prop firms. Don't think just cuz I trade prop firms that means I'm a prop sim farmer, you know? I have a live account there, so it's not sim farm in here. I've seen your reference DVD. Is that something you no longer consider? Yeah, it wasn't helping me. It wasn't serving me, so I dropped it. [cough] [clears throat] Zeno, we have something like that already. Yep. When the double break fails on the retest, action never reclaims a level. rejecting do flip and reclaim in the opposite direction. [sighs] I would not flip until the high or low where the stop loss would go has been taken. Iona, so if we're short the double break and the stop is at the high, I'm not flipping just when it takes New York VWAP to the upside. I'm flipping once we take the high and take the stop loss out. When we make a new session high or low now, I'm going to flip and look for longs or look for shorts in continuation of that direction. Great question. Very good question. Thank you for listening and engaging. Go watch the videos on my YouTube channel and then let me know what else I can do to help. It's all free. Streams free for 30 days. VWAPs, it's all free. Free indicators out there. Good. VWAP and coffee. >> Yeah, man. I I I've done everything, Bruce. Like I was streaming back in 2018 when I worked at that prop firm T3 and I was streaming for them and I used to stream 5 hours a day and it was so hard. So like I'm just built to get up and work. So I get up, I work out and I just get to work. I don't have to do a bunch of stuff to kick my brain on. But now like I you heard me earlier, I'm wired to like by this time of the day, Bruce, when I'm done with you, I'm done for the day. I I don't work past 4:00. You know what I'm saying? That's even late for me. So my brain just operates differently. So everything kind of revolves around that. getting the workout done, getting the trading done, and then getting my time so that like the afternoon I can kind of do what I want, you know? I got two kids now, Bruce. I got another one coming in a month. >> Oh, congratulations. >> Thank you, sir. >> Yeah, that'll keep you busy. >> Exactly. That's why I'm very conscious of my time. I'm not conscious of my time cuz I'm 18 and want to go to the casino again and have fun and do nothing. You know what I mean? I'm conscious cuz I have a wife and kids that need me, you know? So the VWAP bookmap heat and position sizing. Yeah. Yeah. And in position sizing like Chad, there's so much that we can say about that, bro. So I would even just say it's VWAP and bookmap. And that that kind of rhymes when you say it like that. But to me, that's everything. And honestly, you could do more. I could do more. My goal going into the end of this year and into next year is as I work more closely with Bruce and the bookmap team, not only do we want to get more people using bookmap, but I want to get more in-depth with my bookmap use, which is why Ry's got that MBO bundle. He's helping us do the stop hunts and the icebergs and learn about that, seeing how that complements our trading. And like you'll see if you come to our stream, we do not just say, "Okay, here it is. Let's follow this." Randy will watch it. We'll watch it for weeks about how it complements what we do cuz it's still fundamentally VWAP driven. So, but once we see if it can complement or not, then we start to add it in and see how it can make a really big difference or not. And we're always challenging it. You know what I mean? Always questioning it. Thanks everybody. I appreciate that. I appreciate the love. I'm a little confused what I cons should consider as a prop trader. Chad, what are you confused about? Be more clear. Let me help you. What do you mean? What should I consider as a prop trader? What does that mean? bookmap bundle. I would tell you Chad, don't dive in too deep because it gets overwhelming. That is my honest advice. So, start small, start simple. I love the trader map light with bookmap that has since Bruce put me on to that, that is a game changer. I think that's the starting point. Like, if you ask me what is the ground zero, it would be like my bookmap you see on screen. No volume balls, just the heat, no CVD. I'm just looking at heat. I'm just looking at the thing with trader map light to try to filter out some of the algos and that's all I'm doing. That's it. And then build from there. Mac, how do you deal with periods of draw down? I've had a hell of a last month trying to find success through the first half of the year. I was receiving payouts weekly through February, beginning of June. Blew my account. Mac, I would tell it's I like your profile picture, by the way. I would tell you to take a break from trading. the the most likely thing if you have taken that many payouts and you were that consistent is your strategy is not the issue. So, I would just take a break. You got to refresh. I wouldn't change anything right away. That's my coaching experience. My coaching experience says if I got a guy that's already taking payouts and he's doing well, don't tell him to change anything in his strategy. Don't tell him to if other than remove stuff that's maybe adding more noise if he added something new recently. Remove, strip it down, take a break, reset, and then come back heavy when you're in the right frame of mind. So, it's like there's a a common occurrence in our group where I am telling people to go on vacation and it's gotten to the point where I'm ready to start paying people in our team to go on vacation to just decompress, take a break because if you run too hot in this business for too long, you you burn for sure. So, I think that's what it first sounds like, Mac, without looking at any of your trades or anything like that. Dude, that's what it sounds like. So, I would just go chill, bro. You did really good. Receiving payouts weekly from February through the beginning of June. You sound like Zack, the guy I just interviewed for the podcast. So, it's like, bro, that's amazing. Slow down for a second. Take a month off, take a couple weeks off, and then come back heavy. I subscribed to Global Plus yesterday. Could you please recommend how I should approach learning heat map and other stuff? Indicators, is there a road map? ish. Start with my YouTube playlist. That's why I've got it. Friends, I got four minutes before I got to leave because I have another call. So, let's get any other questions in here. I'm going to be on stream tomorrow morning. The link is in my bio and socials. You know what I'm saying? So, please join us. It's free. We're doing an all bookmate. [clears throat] Love the content. Yeah, Mac, hit me up, bro. But go take a break. So, actually, don't hit me up. Stay off social media. Don't consume any trading content on social media, bro. If you're already doing that, well, stay off social media. Stay off of YouTube. Watch history videos. Do something else productive. Don't spend your time on trading stuff cuz you already know how to trade. So, you just got to get in the right right frame of mind. Last question. If your view edge starting decaying, how would you eventually know? Hard number. Okay. This is a theory. I'm going to leave you with this as the mic drop. I don't think VWOP decays. VWOP edge can't decay cuz it's just a fact. It's not an edge. It just is what it is. It's been used by institutions. If you study Brian Shannon's work, also study Andrew Aziz has a published study on VWAP for the triple levered Q the NASDAQ TQQQ. Just take a little bit of study into it. Uh I promise you, I think I'm a smart enough guy. I'm not a genius, but I'm smart enough. If I felt like it was going to decay, I would never have committed to it. But the fact that so many institutions use it, the way Brian describes it and everything, just the way that it is factual, it is a volume weighted average price since a certain point. It just is what it is. It's undisputable. So to get movement around and off of that VWAP will always occur. Will a double break trade win at the clip that it's winning? No, it will change month over month. 100% it will change. Okay, hop in. I would love to have you guys on stream. I'm sure Bruce, if he will uh have me back, I would love to come back for you guys anytime and and share more. I love chatting with you guys, but it's been great. >> All right. Excellent. Uh yeah, thank you so much, Austin. >> Yeah, of course, Bruce. Thank you. I appreciate it. >> Yeah, we'll have you back. >> Awesome. >> Absolutely. >> Beautiful. All right. Great to see you, everybody. Thank you.