Hang tight while we fetch the video data and transcripts. This only takes a moment.
Connecting to YouTube player…
Fetching transcript data…
We’ll display the transcript, summary, and all view options as soon as everything loads.
Next steps
Loading transcript tools…
Trading Indicators - When & How to Use Them | TheChartGuys | YouTubeToText
YouTube Transcript: Trading Indicators - When & How to Use Them
Skip watching entire videos - get the full transcript, search for keywords, and copy with one click.
Share:
Video Transcript
Video Summary
Summary
Core Theme
This content introduces and explains a suite of custom trading indicators developed by "The Chart Guys" team, designed to help traders quantify their experience, identify entry/exit points, and manage trades more effectively.
Mind Map
Click to expand
Click to explore the full interactive mind map • Zoom, pan, and navigate
Hey everyone, I'm charting man Dan of
the chart guys. In this video, we're
going to go over our indicators and
going to describe essentially the
creation of these indicators, how they
can be utilized for entries and exits as
well as staying in trades and uh just
give you some some insight. Many of you
have some of these indicators that have
been included in, you know, membership
deals and things like that. But just a
little background, it's been a an
enlightening process creating these
indicators just because it requires me
to get out of my head as a trader.
Essentially, what we were looking to do,
you know, most of these indicators are
created from my style. We have Lori's
indicator which we'll look at couple
other ones but it's essentially you know
having to quantify
something that you know otherwise I'd
say for example I'd say a daily high or
low is the most likely scenario years
ago someone would say what do you mean
my brain says that it's the most likely
scenario from my experience that doesn't
really help someone else so I then had
to use Fibonacci to be able to quantify
and say when this happens this is the
most likely scenario. So, it's the same
thing with these uh indicators. You
know, I can say why did you buy here,
Dan? Well, I bought because we were at
extremes. What does that mean? What do
you mean extremes? I have to be able to
quantify. And so, it created a a system
where I as the trader take my experience
and I then have a conversation with
other chart guys team members who are
traders and developers. And it's almost
like translating what's in my brain into
a code that can then be quantified and
then utilized by by other people. Of
course, none of these indicators are a
fixall in terms of just do this and
you're going to be a profitable trader.
As we know, it is a number of a factor
of things. And I'll talk about
confluence of signals, which is
important for us to have a higher
conviction on certain setups. But uh
let's get into it. First things first,
this is the website. So chartguys.com/indicators.
chartguys.com/indicators.
There's a ton of information on this
website. So make sure and check it out
after this stream. Uh of course again
the 20% off sale. But every indicator if
you click on it, there's then a video
specific to that indicator explaining
it. So I'm going to explain it in this
webinar and then you know myself or
someone else is going to be explaining
it in a different way with different
examples in this video and you know some
written out examples and charts and
things like that. So definitely worth
checking out the website as well and I
posted that link in the chat if you
scroll back a bit and I'll post it in
the comments once this video is
complete. So again, uh, another good
resource to utilize for more information
to learn about these things. All right,
so first things first, we're going to
talk about the back burner. How many
times have you heard me say back burner
at this point in our lives? It is my
favorite. I have made the most money in
my trading career utilizing the back
burner trading strategy and it is ideal
in strong trending markets. I use it a
lot more in bull markets buying dips.
The reason being my trading career of 14
years, we've been in a bull market the
vast majority of the time. It does work
for bears when you are in a trending
bare market. In the 2022 bare market, we
were using it on the way down because we
were in monthly, weekly, daily
downtrends. But when you're in blue sky
breakout, there is no better indicator
for making an entry. And the reason I
call it the back burner is because you
don't want to chase something that's
going straight up. So you put the trade
on the back burner. You wait for it to
come to you and then the conditions set
up and you make the entry patiently
entering on consolidation to have better
riskreward rather than chasing.
So at this point we turn on the
indicator. This is RGTI. So, this is
your quantum computing stock that has
run straight up to the tune of 1 to
2,000% over the last bunch of months.
And the last thing we want to be doing
is chasing a name like this because when
it pulls back, even healthy
consolidation is a 20% drop on this
name. So, just an example, hourly, we
turn on the indicator here and we can
see what's this yellow, this yellow,
what's this red line? This red line
means the indicator is active. It's not
just hitting oversold conditions. What's
coded in is the context. We have to have
certain parameters reached in a breakout
for the signal to be active. And then
once it's hit, it's no longer active for
a while until the conditions reset. So
here back in
when was this? Thursday, December 19th,
we were in a blue sky breakout run.
We're coming from all-time highs. we hit
first hourly oversold conditions and
then from that point forward we see
another 200%. Now obviously not all of
these back burners are going to see that
kind of follow-through. Generally my
style of trading is I enter into a back
burner. I sell partial into the initial
bounce and then I stick my stop under
the low break even because in our
strongest uptrends that will mark a
longerterm higher low and we will see
continuation. If not, I stop out low
risk or break even. And uh there's, you
know, works on all time frames. If
you're a swing trader, all these
indicators, if you're a swing trader,
you're just focusing on longer term time
frames, weekly, daily, 4 hour, hourly at
the shortest term. If you're a day
trader, you know, hourly, 15 minute, 5
minute, even down to the two-minut. Uh
but, you know, the the hourly was a
great one here. You go to the 15minut.
What if it what if it triggers an
extended hours? I always have extended
hours on. For me, it it just means it's
the not the ideal scenario. The ideal
scenario is when the back burner
triggers in regular trading hours, I'm
not going to buy in extended hours,
generally speaking, if it hits, but it
just means to me if it's not ideal, what
does that mean? It means if I'm really
conservative, I skip it. I don't take
that trade setup and I wait for
something on a longer term time frame.
If I'm aggressive still, or maybe it
means I use a smaller position size.
There are multiple different ways where
if it's the ideal scenario, I'm more
aggressive. Or if it's the less than
ideal scenario, I'm less aggressive. So
on this day, back December 30th, the
15-minute back burner triggered
pre-market, but the 15-minute oversold
conditions from regular trading hours
still had a monster bounce on that
morning. So, it was just a less than
ideal scenario into that 25% bounce.
But again, I do like extended hours on.
I always have it on and it just means
ideal scenarios or not. So, I still pay
attention to it. And again, sometimes it
will mean, all right, 15-minute
triggered pre-market. I'm not going to
take the 15-minute oversold trade
because I'm being conservative. Or if
I'm going to try it, maybe I'll do it
with, you know, twothirds of the
position size that I otherwise would.
But, uh, again, can't speak highly
enough of the back burner. Easily my
favorite trading strategy, which means
it's easily my favorite trading
indicator. And again, when you're in a
strong trending market, as we have been
for the last two years in the broader
market, it is prime time. It's how I
made the most gains in 2017 crypto.
That's what led to me creating this as a
strategy and then eventually led to me
creating it as an indicator again with
the help of coders who know a lot more
than I do about coding.
So, Backburner is my favorite. Next,
we're going to talk about Superst. This
is our newest indicator. Turn off back
burner. Turn on superstack. So let's
talk about superstack first before we
look at it. Superstack indicator is
essentially when you are at extremes
across a multitude of time frames. So if
it triggers and you're on the hourly
chart, it means you're at certain
conditions on the hourly, the 15 minute,
the 5 minute, etc. If you're on the 4
hour, that means it's triggering on the
4 hour, the hourly, the 15 minute, the
five minute, etc. So, the longer term
the time frame, the more aligning all of
these shorter term time frames are. Why
I like this indicator and this signal is
because again, it shows extremes. I look
for it as an entry point.
And I just I have one more thing I got
to say about back burner confluence of
signals. Quick recap. I forgot to say
something. Pause there. All right. So,
RGTI confluence of signals hourly first
oversold back burner on December 19th
aligned with daily EMA 12. That's an
ideal condition. I have more conviction
in a back burner that is aligning on a
longer term looking for a higher low.
It's hitting an EMA 12 support and the
shorter term time frame is firing a back
burner. That's when I'm most confident.
And so that was an example of RGTI
confluence of signals means you have
higher conviction.
All right, apologies. So superstack a
bunch of time frames aligning.
And why I like this signal is because
let's say we're 4hour superstack
oversold extremes. Even if that doesn't
mark a long-term bottom, I know that we
will likely at least see a shortterm
bounce. Even if we don't see the 4hour
bounce play out from that point, I know
we will likely at least see a 15minute
oversold bounce play out from that
point. And with my trading style, that
means, you know, if I enter my position,
I scale out partial into a shorter term
bounce because it is counter trend. It's
just extremes counter trend. And then
that makes me in full control of the
trade by being able to. So, it it tells
me essentially you'll likely at least
get a shortterm bounce to position with,
even if it's not the longer term bounce
that you're looking for. And so, that is
key. One thing to note with both of
these indicators, back burner and
superstack, if there's a headline in
play, less than ideal scenario. Doesn't
mean it won't work. It just means it's
not ideal. The ideal scenario is when
these conditions are hitting and there's
no news in play. There's no headline
that's causing a massive drop. You know,
if if Tesla gets news that 100,000 cars
just blew up, the superst's not going to
work on the hourly time frame because
that's big major bad news. So, just be
aware that you want to be aware if
something is headline related or just
the technicals doing their thing. So,
Superstack when you're there's a number
of components here. When you're looking
at certain time frames, if you're
looking back historically, which is
important, you want to see how does this
indicator work on whatever asset or ETF
or stock that you're looking at. How
does it look at how does it play out
historically, you want to be zoomed into
the shorter term time frames because the
five minute is a factor in every time
frame and you can go back and look at
uh, you know, it essentially gives you a
more complete picture of all the
different time frames that have been triggering.
triggering.
That said, this is a heat map in the top
right corner which essentially gives you
a glimpse. This is telling me the RSI on
all these time frames. So, you know, RSI
on RGTI, the monthly chart, 87, the
weekly chart, 98. That's telling me
we're still at extremes on the longer
term time frames, even though short-term
we're not at extremes. So, that's a bit
of a way to keep a glimpse of things and
to be uh, you know, watching. And
another aspect of this of the super
stack, if you go into
the settings, I can put on the chart,
just like the back burner is the line
that shows you where it will trigger.
You can put that on the super stack as
well. So, let's just say RGTI, I want to
know where the hourly super stack would
trigger. There's my line. And so I could
say, all right, we would need to drop
down to the $14 range if an hourly super
stack were going to trigger from where
we stand at this point. So let's look at
a couple examples. First one being RGTI.
Going to turn off that
line for the moment. So RGTI, let's go
five minute on December 30th to show us
the 15minute super stacks. So this was
the one where the back burner fired in
pre-market. So did the super stack. So
again, not ideal for it to trigger in
pre-market, but it also triggered in
regular hours as well. And the 15minute superstack
superstack oversold,
oversold,
ended up with a 25% bounce. And then we
hit the 15minute superst. So what does
that mean? That means the 15minute the
fivem minute are both at extremes. that
marked the high of the day and we then
pulled back 7%. So essentially it can
help you if you're in a longer term
uptrend. The shorter term time frames
can help you buy the longer term higher
lows like a back burner can. But it's
also good for hey maybe it's time to
take some profit. So, for example, XLM Crypto.
Crypto.
XLM Crypto had a monthly superstack
fire. And we're going to look at it on
So, the monthly super stack fired on the
way up. Again, complete bull control,
massive breakout, running hundreds of
percent, and it triggered in the 44 cent
range. And it didn't mark the top,
right? I'm not just going to cherrypick
examples and find the ideal we nailed
the top and bottom on. No, that's not
how it works. This tells you, hey, it's
probably time to start thinking about
taking some profit. If you're getting a
super stack of overbought conditions
when you're riding an uptrend and you
know you've got some nice long-term
gains, that to me means start scaling
out some position. So, let's say you
know you exit a quarter at 45 cents, a
quarter at 50 cents, and then you let
the the rest run. We didn't again it
didn't nail the top. We kept running a
good bit further but you zoom out longer
term and we ended up pulling back you
know back down to towards 30 cents. So
from when it initially triggered yes we
kept running but if that's your signal
to start scaling out some profit then a
couple weeks later we're down you know
30% from where that trigger happens or
45% from the actual high that was hit.
So, if you're getting a super stack
overbought while you're in a strong
uptrend, take a little bit off the table
perhaps because again, the monthly
superstack tells you we are at extremes
on the monthly, the weekly, the daily,
the 12-hour, the 4 hour, the hourly, the
30 minute, the 15 minute, the five
minute all at the same time. And that is
extreme euphoria.
I'm going to use another example here.
uh the energy sector. So I recently
played the energy sector long for the
first time in a very long time. And the
reason that I did so again I didn't
have, you know, I didn't have the
superst indicator up when I'm looking at
this trade. These these indicators came
from my brain. I've got the super stack
hardwired in my brain through
experience. So I knew the daily chart
for XLE was getting very extreme.
Straight drop from the highs, almost a
waterfall drop. again the daily RSI at
that point down in the teens and
everything oversold and so that tells me
start looking for a long. So daily
superst fires
in the 83s we end up getting a little
bit more downside you know another day
another percent or so less than a
percent about a percent into the 82s and
that marks our climax bottom into this
oversold bounce. So again, just ideal
scenario of extremes. Was there a
headline to point to for the entire
energy sector? I'm sure you could come
up with something as the narrative that
was driving things, but there wasn't
anything that told me, you know, don't
take this trade. Another factor,
confluence of signals, extremely
oversold on all these time frames coming
up to support. This was the most
important support level for a long
period of time and we came up right to
it in extremes. Didn't quite test it and
now the bounce underway and again with
my style take partial profit. I now have
still in three quarters of this swing position.
position.
My stop is under this low and I can't
lose unless there's an insane gap down
on the world ending. So, partial
positions, confluence of signals with
some support. I just noticed this was a
good daily. I wasn't even paying
attention to the overbought signal, but
daily super stack overbought. Again,
didn't nail the top. We stayed above
that signal for another week, but that
was then a long-term top into months of
pullback. So, again, it works in both
directions. When you just run straight
up, hey, maybe take some profit. Again,
not necessarily, hey, aggressively short
but takes a profit. Then the top is hit.
Essentially, it tells you pay attention
All right, next one.
So again, that was the super stack.
We're now going to go historical RSI. So
this was a tag team effort where again I
I utilize historical RSI in my trading
strategies. I'm Jungle Funk's Joey
mentor and then Joey helps working with
you know our our developer team uh to
code this. So essentially it went from
my brain to Joey's brain Joey
translating to our developer and then
our developers putting this together.
Again same thing you know these are
these are different veins of the same
concepts. The difference is the back
burner is the first time an oversold
condition is hitting in a strong trend.
The super stack is a bunch of time
frames aligning when you're at extremes.
And the historical RSI is when you're at extremes.
extremes.
And I've used this plenty in my trading.
And again, just using XLE as the example
that we have up here. We can see the way
this works is the band, these blue
bands, the the extreme of the band is
the the highest it's ever hit in all of
the available data. And depending on
what Trading View plan you have, that's
going to determine how significantly far
back your data goes. So, just be aware
of that. That's a a perhaps a constraint
on how much data you have. But, uh, XLE,
the the top most blue line is the
highest RSI that's ever been hit on the
daily. And then you have the the channel
that's telling you this is, you know,
we're we're getting there. And you can
adjust things as always. You know, you
go to the settings and say, well, okay,
this is showing me a 5% channel where
we're getting within 5% of the most that
we've ever had looking back a thousand
candles, but maybe I want a little bit
more. Maybe I want 10%. Let me know when
we're getting within 10%. So, that just
widens the channel a bit. Uh that's up
to your personal preference.
I generally want it to be more extreme,
so I'll leave it on 5%.
But again, here's the energy sector.
Didn't quite get to that 5%. We came
really close. But again, just
historically, you want to look back what
happens every single time that we've got
XLE daily RSI getting into this band of
the most historical. I mean, happens in
2020, happens in 2019, happens 2014. It
essentially, again, it doesn't
necessarily mark the bottom, but it
allows for positioning. So, let's go
back here to 2014 energy sector. Here's
an example where we hit a new all-time
high RSI right at the top before
massively rolling over. This was the
most extreme the daily RSI has ever been
in its history. Again, didn't top out
right away, but over the next couple of
weeks, it was a topping out pattern that
then rolled over. The downside
again, did it mark the bottom? No. We
got down right to that range and almost
the most extreme daily oversold ever
right here. The bears had a lot more
follow-through over the next six months
from that point, but it let you know we
were at extremes enough to position for
a short-term bounce. Again, you get in,
you sell partial knowing your counter
trend. You stick a stop under the low if
you want to try for a long-term bottom
and then you stop out. No biggie. if if
that was your game plan, you know, it
had a 10% bounce, plenty of availability
to position within a 10% bounce. It
didn't mark the bottom because the RSI
cooled off on the 10% bounce and that
did allow for further downside.
So again, you got to be positioning.
This isn't a we're we're going to nail
the bottom and then go up for years from
here. You still have to be a trader and
and be doing the correct things in terms
of scaling in, scaling out, limit your
risk, place your stops, all that.
But again, it's a a great way for
aligning extremes again back here. You
know, here we are hitting the extreme
daily overbought band. That marks a
long-term top. I'm sure there was news
involved on that drop 2018 or that was
probably the market market had a big
drop there.
It's just a really nice guide of the
extremes of the extreme. Here was
another one. Again, when you get into
that band overbought, that marks a
All right, historical RSI.
Next one.
I'll look at questions. Feel free to ask
questions in the chat. I will get to
them when we are done here. We're
getting there.
All right. So, next one is the trade
keeper. Lori came up with this one.
Again, on our website, go watch the
video. She has her explainer video
explaining her indicator. The trade
keeper is so the three that we just went
over are essentially and looking for
entry and exit signals. The trade keeper
is designed to keep you in a trade. You
know, one of the the main things that
traders have an issue with I cut my
winners too soon. I don't cut my losers
soon enough. I wish I kept a runner. Um,
that was definitely, you know, years
ago, one of my top criteria of wanting
to improve as a trader was keeping
runners to let longer term time frames
and longer term trades play out. And so,
the trade keeper is designed to do that.
It utilizes ATR and it utilizes Kelner channels.
channels. And
And
let's just use some examples. NASDAQ.
Turn on the trade keeper. So, we've got
a bunch of dots. Now, the trade keeper
indicator is not going to be helpful if
you're in a choppy sideways market. You
know, if you're forming an equilibrium
and chopping around, you're going to be
getting long and short signals flipping
back and forth. This is for trending
markets to tell you essentially, hey,
stay in. You know, there's no reason to
be selling yet. And the way this works
are these green dots. So, well, colored
dots. So, the green dots mean long. And
this is the five-minute time frame of
the NASDAQ this past Friday, right? So,
we start strong. We do see some
weakness, but still green. You know,
don't sell yet. We're not ruining the
structure of the uptrend. And then the
bulls keep full control. Green is long.
Purple means caution. Purple means we're
losing moving averages on a longer term
time frame. So, it's essentially saying
heads up, we might flip here. And then
we go red. Red means sell. So here would
have kept you in long the entire morning
and then it would have had you exit, you
know, towards the end of the day, but
that's when things shifted. That's when
hourly consolidation began for the
NASDAQ after running up all day. And so
purple means heads up. Things are
shifting. Red means short. Yellow, let's
So yellow just means again this is an
overnight session so not as ideal but
yellow means we're getting extended.
So yellow means we're extending
significantly below the Kelner channels.
Doesn't mean sell just means we're
really ripping on that trend. So again
here's your short.
Red means short. Purple means caution.
We might flip to long. We might flip to
long. Nope. Not flipping. Not flipping.
Roll over. Yellow means we're extending
far down. Doesn't mean exit the trade.
Just means, you know, maybe you want to
take some profit into some extremes. But
then the red stays red. It stays short,
stays short. All right, things reversing
a bit. Purple means heads up. We might
be reversing. And then the green says,
"Yep, now we're long."
So again, just if you struggle to ride
trends and let runners run, this
indicator is designed to help that. And
again, all time frames.
If you're a swing trader, you're using
it on the longer term time frames. And
if you are a day trader, you're using it
on the shorter term time frames. Go
check out Lor's explainer on the website.
website.
The last one is Mountain Trend Scout.
So, this one was created by a longtime
chart guys member, Mountain, and he is a
coder and a trader. So, he came up with
his own indicator. I'm not going to go
in depth explaining this one because it
didn't come from my brain. Um, but it is
more designed towards essentially, you
know, if you struggle to identify the
pivots, the higher lows and lower high
pivots. Um, it essentially marks them
out for you. It, you know, marks key
pivots on longer term time frames. So,
right now I'm on the NASDAQ daily chart
and it's telling me where the most key
weekly pivot is. It's 19% to the
downside. You know, the key monthly
pivot is way down there because we've
been running hard for years. uh but
essentially if you struggle to identify
the higher lows and lower highs uh this
can help with that. I would certainly suggest
suggest
you know prioritizing learning those
pivots and price action because that's
the backbone of all trading and
technical analysis in my opinion. So you
definitely want to get good at it. This
can be an assisting tool, but it's not a
uh I I would I wouldn't want to not
understand pivots and how to identify
them and use this uh indicator. It's a
tool to help you identify those pivots,
but still got to learn those. So again,
NVDA daily chart. All right, here's our
daily lower high resistance. I took a
short there month ago. Marks the key
resistance. lets you know, you know,
we've got the key price coming up to
test resistance. So, helps with those
pivots. Again, Mountain Mark does his
own explainer video on our website if
you want to hear it straight from the
horse's mouth. Check it out.
All right. Backer, superstal RSI,
RSI,
trade keeper, trend scout,
extremes. The first three are extremes.
looking for entries.
The fourth trade keeper is helping you
stay in trades, not necessarily entries
and exits. And the trend scout is
helping you identify longer term, well,
not even long, depends on the time frame
you're on, but helping you identify key
pivots of support and resistance.
All right,
thank you, Toby, for answering some
questions along the way in the chat.
Gassan, thanks for the compliment, but
stick with it. So, Gassan says, "I
explained TA well, but he still is not
getting it." I'm using his nice
phrasing. Stick with it. Six months, 12
months later, people say, "Man, I
finally get it. It finally clicked."
It's like an epiphany. Just got to give
yourself time. Some people take longer
than others. There's nothing wrong with that.
that.
How much weight do I put in the golden
death cross? None. It's a lagging
indicator. Very late signals.
Poets love birds. Appreciate it.
Thanks, Jason. Wright. Oh, yeah. Bundle.
We got a bundle. Forgot to mention that.
Beck. So yeah, you can buy them
individually, but if you want uh the
four from the chart guys team, the
bundle has a discount as well. I need to
So just scroll down a bit. 4 in one
indicator bundle. It was already 20%
off. I think they're 36% off.
Is that super stack the same as the one
in Trader Pro alerts? Uh not exactly.
Same concept, very similar, but slight
variations in the criteria for the
triggering, but uh a high percent of
Uh again, you know, what's the
difference? This is more towards trader
pro crypto alerts. It's different. This
these are trading view alerts. You need
a trading view account to have them. But
I'll just answer this quick question
about the crypto alerts. Difference
between overbought and oversold climax
and superstack. Superst has a bunch of
time frames aligning. Overbought
oversold climax factors in volume.
Superst doesn't isn't concerned with volume.
Doesn't the break of the green dots at
Let's look at the trade. keeper real quick.
quick.
No, the dots are the dots you're saying.
If it means get out, the dots go red.
I assume you're talking about right
here. So, yeah, it's not the price
dipping below or above the dots. That's
what PR is. This is different than PR.
You don't hit the dot and then it flips.
The dots got to change the color to flip.
utilize the indicators. Can you use them
on any platform? Um, so the way that I
that it's got to be on Trading View and
the way that I trade is I got Fidelity
in my broker on one screen. I got
Trading View on the other screen. The
charting on Trading View is leaps and
bounds ahead of the vast majority of
stock brokers out there. So, I would
suggest using Trading View.
I don't have any compensation from
Trading View, but they did give me a
cool thing. Um, I would suggest using
Trading View when you're trading because
again, it's it's, you know, Fidelity
Trading, it's not even close. So, I
place my trades through my Fidelity
Broker on this screen while I'm watching
Trading View uh to make my trading
decisions. And there are there are
certain brokers where you can link to
which are my personal favorites. Again,
Back Burner. It's not even close.
Backer then Super Stack. I would say if
I had to
uh say the two that have been most
There is a bundle Brooks
but it's not pick and choose bundle.
It's not like I want these two. It's the
Uh, how do you determine when a high or
low is set? That's a a long explainer.
Got to go to YouTube, look at Joey's
webinar playlist, and there's six hours
of content that is essential. But
there's one one of the I think it might
be the first one, identifying those
pivot points. So, go watch that hourong
explanation because that's what is
required to answer that question.
Definitely can't answer it in a couple sentences.
So recently coin went to 250 he entered
at that price didn't have enough data or
conviction pulled out at 253 and then it
went up at 270. Trade keeper the right
tool definitely can help. Uh I would say
you know trade keeper as a tool
obviously but the most important thing
is establishing your trade game plan in
advance. The number one issue that
traders have is they act on emotions.
Right? If you don't have the trade game
plan you know essentially when I enter a
trade I know where my stop is and I know
where my target is and if neither of
those levels are being hit 98% of the
time I'm not acting because my stop
neither level is hit. So, I let the
trade play out until I either stop out
or my target is hit. Only two things
happen. If a trader doesn't have that
game plan laid out in advance, again,
every game plan is your entry, your
stop-loss, your target.
If you do not have that trade game plan
laid out in advance, you're sitting
there reacting to price and you're
reacting to your emotions. Oh, we just
dropped hard the last 30 minutes and you
know, my stop or my target isn't hit,
but I'm going to sell because it's not
as strong as I thought. You've got to
eliminate your emotions from dictating
your decisions. And the only way to do
that is with a set in stone game plan
with orders laid out that allow you to
act on that game plan. And you don't do
anything otherwise.
You know, natural gas. I'm in a natural
gas long. We just gapped up huge to
start the week. Everything in me is
saying sell partial position, but it's
not part of my game plan in in the end.
you know, would have worked out to sell
partial position because we pulled back
fairly hard from that gap up. But my
game plan is a longterm position looking
for significantly higher from here. And
I'm either going to stop out, break
even, or we're going to hit that target.
And the the risk of micromanaging is you
then sell a position and then it plays
out the way you thought it would long
term, but you didn't get the ideal
re-entry and now I've got I mean there's
so many times where that's happened to
me where it's like my trade is on the
weekly chart, but I'm confident I can
maneuver on the hourly and then I, you
know, have less position than I would
have if I just let it ride out. Got to
definitely suggest multiple monitors,
bare minimum two. I used one monitor on
a laptop for a long time and when I went
to two, I felt like an idiot. Like, man,
I should have done this years ago. What
Recommended Trading View plan for best
use of these indicators? It depends on
the the individual, you know, are you a
serious trader? Is it a hobby? Things
like that. Um, any of the paid plans
will give you the the basics of what you need,
need,
but um, you also want real-time data.
That's key. Again, if you're a serious
trader, you got to pay a few bucks a
month for, you know, real NYSE data
because otherwise your price levels are
a bit different than the real data. Your
volume is a bit different. If you are
serious, you gota you got to fork over
the bucks for the monthly data plans on
the markets that you're trading on
How much does the drum circles help my
mindset for trading? I don't do drum
circles that often these days. Um,
I mean, let's encompass nature, outdoor
activities massively. It's extremely
important to have that mental reset when
you're grinding, looking at the blue
light screen,
uh, for thousands of hours. You have to
have that reset. But it's different for
everybody. You know, me taking a hike in
nature or doing a drum circle, hippie
thing, whatever. You know, someone else
gets that from playing golf. I don't.
It's, you know, everybody's different.
But you got to have your outside,
ideally outside touching grass, uh,
escape to reset your brain, reset your emotions,
emotions,
Just did a crypto live stream yesterday.
Uh, indicators are onetime payment. Toby
is answering questions in the chat. Toby
is the brains behind some of these indicators.
Traderdeveloper
What time frame do I use to confirm
horizontal breakouts? All of them.
Again, it depends. You know, am I on
am I It depends. If I'm looking for a
swing trade, I'm on the weekly and the
daily. And those are the most important
pivots for me. If I'm day trading, the
daily pivots matter, but you know, it's
much more about hourly and 15 minute and
five minute time frames.
So, it depends on what is the the trade
setup that I'm looking at. If I'm
looking for an hourly higher low, I care
about the five minute. If I'm looking
for a daily higher low, I care about the hourly.
hourly.
Again, Joey's webinar series goes very
Thank you. Thank you, Swag. So trade
keeper, I forgot to mention that. Let's
Trade keeper. So you can change the settings
settings
to go slow trail or fast trail. And that
just essentially means how sensitive are
the triggers going to be? You know, if
you're a scalp trader, if you're on
their shortterm time frames, if you want
to be locking in smaller moves, you're
you're on fast trail. If you want to be
a little bit zoomed out, let it play out
a little bit. Give it a long leash. You
know, I I often say I want to give this
trade a longer leash. And that just
means I'm willing to sit through more
fluctuations to try and let the longer
term move play out. So that's what slow
versus fast would do. A fast is a
crashed any lawn. I have not crashed a
lawnmowers. So, here's a a good lesson.
I psychological barrier. So, I crashed
my lawnmower multiple times. We're off
topic now, but I've crashed my lawnmower
a couple times in this one spot in my
backyard where there's a hill and if
it's slick, I slide off into my flower
bed and I then have to with the help of
Joey rig up a primitive wench, which is
a bit dangerous to pull this, you know,
800,000 pound machine with hand by hand
using a wench. Look up a primitive
wench. It's so cool and it works. Um,
and then I put up a piece of wood. And
that piece of wood is not enough to stop
this lawn mower. If I slip, I'm going
right over that wood into this flower
bed. But the the visual of that piece of
wood being there is my reminder. It's
like a bumper in, you know, bowling
putting up the bumpers over the gutter.
It reminds me every time I see it when
I'm going near it, slow down, be
cautious. And that's almost like, you
know, just writing down your trading
rule next to you on the computer where
if you're in the heat of the moment, I
don't need a stop loss. I'm on top of
it. You look down, capital letters,
place your stop-loss, idiot. It It helps
keep you. It's a reminder.
See how I tied that into a trading lesson.
Toby definitely a genius, highly
Nicks loves a trade keeper. Glad to hear
it. All right, I'm wrapping it up.
Thanks for spending some of your
Saturday afternoon with me. I got to get
out and chainsaw more wood, which is the
story of my life the last couple of months.
months.
But feel free to ask any questions. Feel
free to email supportguys.com.
Toby would love to hear from you. and
make sure and check out the other
individual videos describing these
indicators more in depth.
Repost in the link.
Appreciate you all. Thanks for the support.
support.
I just put out a quantum stocks video a
couple hours ago. Check that out on our
YouTube channel and we will see you all
Click on any text or timestamp to jump to that moment in the video
Share:
Most transcripts ready in under 5 seconds
One-Click Copy125+ LanguagesSearch ContentJump to Timestamps
Paste YouTube URL
Enter any YouTube video link to get the full transcript
Transcript Extraction Form
Most transcripts ready in under 5 seconds
Get Our Chrome Extension
Get transcripts instantly without leaving YouTube. Install our Chrome extension for one-click access to any video's transcript directly on the watch page.
