THE TRADING NUGGETS

Snippets from the Wicksdontlie 2020 livestreams hosted by Rakeel Zahoor

January – May 2020

Visit http://youtube.com/wicksdontlie Mondays- Fridays (6:30 EST)

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 Rules and Guide

1. The summary below is a reflection of the writers understanding of ideas that were
shared on the livestreams and not a complete narration of the statements of the host
of the livestreams.

2. For any day that was not covered, it could either be that there were no livestreams,
or the reader feels that the ideas shared on those days had already been covered on
previous days.

3. Any error in this work is solely the fault of the writer and in no way reflects on the host
of the livestreams

4. Please note that this work is not to be sold as it is only for educational purposes in line
with the ideology of the host of the livestreams.

5. Please feel free to independently test out any idea shared in this book and on no
condition should you rely solely facts from this work

6. Please reach out to the writer of this work if you have any further concerns on any
statement he may have made in the body of this work.

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 Author’s Thoughts

The author of this work recently began live trading in April 2020 and in one of the livestreams,
he heard Uncle Ted advise new traders to go and watch past livestreams and understand what
was being done here. He picked up the idea and that he did. The author is a new trader who
struggles everyday to grow as a trader. He owes everything he will ever be to the masters
(Raja, Uncle Ted, Monty and Paul) who showed him the way and made him believe that this
is possible.

The author realised that the knowledge shared on the livestream was so great and he intends
to try and bring such to people who may not have the means to either listen to every
livestreams or the time to do so. He passionately identifies with the ideology of the group and
would love to one day be part of market fluidity family.

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 NY SESSION 30-JANUARY-2020

Raja

• Whenever price moves, start looking left. For example, if price is bullish, and you look left
and see a bit of consolidation, there is a higher probability that once price gets into that
area, it may consolidate a bit.

• Whenever price moves, ask yourself, “where will it possibly go to next?”

• Your learning curve to being a profitable trader depends on how good you are in
controlling yourself. It can take 6 months for some people and 1 year or 2 years for others.
There is never a one size fit all approach to it.

• The more you look at the charts, the more likely you will take a trade. So I would advise
you trade a particular session and always come around during that session and then wait
for your plan to play out.

Uncle Ted

• If there is a big fundamental movement e.g.: rates, NFP etc, just wait for that
movement for the week and plan your trade around them.

• A great way to look at a pair is to take a look at the higher time frame and then try to
determine the supply and demand levels. If you believe in the “Alien Ship” (I
understand this to mean retests) reference (the inverted triangle), you can then use it
to predict the movement in February (Ted spoke from a monthly perspective)

• You can expect a bit of pullback when price enters the HTF zones

• Most times it would make more sense waiting for the opening of the North American
session to take a position with Gold. This may not apply to you if you have already
taken a position in London or Asian and you are in the trade (you just have to then
manage it). The reason for this is that you do not know how the North American
session will react. Just have the patience.

• The mistake a lot of people make is that they look and see that everyone has already
got in on a trade and then they too will then begin to hunt or create these imaginary
setups where there is none, just so that they can get into the trade too- FOMO

• When you miss a trade, just ask yourself the following question: a) did i wake up late;
b) was i not paying attention to that chart; c) was it not on my trading plan. You will
have more success rate if you stay disciplined and meticulously follow your pair.

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• When you look at the HTF, and see the potential moves, you tend not to be too
involved in missing any single trade, because you have confidence that more setups
will show up soon. The only time to worry is when price comes in at the bottom or top,
but you can then wait and see where price will go to next.

• The better you manage opportunities, the better you mark your charts. This makes it
easier to get in on trades. People fail because they do not prepare for trades and then,
when they miss it, they then chase more trades and fail more.

• This all comes down to experience and contentment. Once you reach that
contentment level, which is not really about the money, but the idea that on a
consistent basis, you can find these setups that matches up with my trading plan and
then execute. Once you reach this level and keep finding more trading opportunities
that matches your trading plan, the less you need to take a trade just for the sake of
being in a trade.

• When preparing or mapping out your plan, the first thing you need to do is to
understand the economy of the pair you are trading and how the currencies within
that pair work together; understanding where the economy of the currency with the
most weight is in at the moment; and then looking at the chart and understanding
where the price is likely to go to next once certain things happens. (This also comes
down to experience and repetition)

• You have to understand why price did what it did. This will take an amount of research
and study as well as taking notes and creating these mental pictures in your mind. e.g.
how does GDP work in a country, how does interest rates work and what effects do
interest rate increase or decrease may have in an economy. Questions like this will
help you plan better.

• For me, when it comes to planning my trades, it’s all dependent on where price is;
how much further I think it would go; and how much room we have in that range.

• When we talk about studying and understanding the markets, anything that you read
or do is going to benefit you. So never think that there is a specified thing you should
read or do. It does not hurt to read more or do more than others are doing.

• Figure out your comfort level and create your own path. There is no formula to trading.
Find something that works for you and replicate that process day in and day out. The
time is takes you to figure that out, is the amount of time it will take you to be
successful. The journey to get to that point is long and treacherous and it takes asking
the question “why?”. It a treasure hunt and it all involves finding a puzzle and piecing
it all together.

• How I prepare myself for fundamental analysis is that I look at the state of the country;
the person running the country at the moment; what government is in power; their
GDP; is their stock exchange doing well; how high the country is in terms of rank; their

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 interest rates; any recent scandals, what has happened with their leader in recent
times and then I compared them with the other country.

• To put it all in perspective, you then back test and correlate these information with
what you see in the markets.

NY SESSION 31-JANUARY-2020

Raja

• Always view your charts each day with a fresh pair of eyes. Remove previous indicators
and drawings.

• This week was a good week for me because I did not look at the score. I just traded
for the fun of it. It is more like Call of Duty, where you play and do not look at the
score. Looking at the score just makes you stay in that score mode which is not always
the right mentality

NY SESSION 04-FEBRUARY-2020 (TUESDAY)

Raja

• Atimes we need to make rules to protect ourselves from ourselves. Eg- using
magickeys helps me remove the mental greed; being quick in the markets and stuff
like that.

• To secure profit, I would advise you close about 75-80 % once it hits 10 pips/or your
anticipated target and let the rest to run. Look at the runner as a risk-free trade, as
this will help you detach yourself from that trade.

• People keep holding on to losing trades without understanding what candles are doing.
If a 15min candle closed against your direction, just close 50 % of the trade.

• There is a big difference between the simulator and real time. The mental stress is
somewhat different. Try live back-testing if you want to start trading a particular pair.
Just watch it move and paper trade in your mind, just like I do currently with US30

NY SESSION 05-FEBRUARY-2020 (WEDNESDAY)

Raja
• Candles without a wick means there is no range for price to continue in that direction.

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 • The beauty of trading is that you learn on the job. The only way to mess up at this your
job is if you try to overtrade or over leverage.

• Take the easy trade. Just have a little patience. Look out for cleaner candles

• To get the basics of trading and to not get overwhelmed with the livestreams , go grab
the basics from babaypips or wherever breaks it down easy for you and then watch
the previous livestreams to understand what we do here.

• I first wait to see if my stop-loss is going to make sense and the I look for confirmations
to enter a trade. So my entry is always dependent on my stop-loss.

• Trust me man, 10 pips is all you need.

• Once price is ranging, it has to break one way, right?. Maybe you can use stop-loss or
buy-stops. But as a beginner, try using market execution first before you begin using
SS or BS.

NY SESSION 06-FEBRUARY-2020 (THURSDAY)

Raja

• Always understand where your stop-loss will be before entering a trade. ALWAYS

• The thing with gold or GJ is that they do not always come down for a full retest. Watch
out for that. If you miss the trade because it did not do a retest, then you ask “what
could I have done to take this trade?”. This will help you catch the trade the next time
it happens.

• When price comes into a range, there is a high chance that it will start ranging again,
so its advised you stay away.

• When you start thinking about “what ifs” you will lose yourself as well as the trade.
Always stay in the present.

• When you go back in the charts, you will notice that a candle that closes with no wick,
has a higher chance that price will go the opposite way.

NY SESSION 07-FEBRUARY-2020 (FRIDAY NFP)

Raja

• Never force analysis. If you do, It’s probably not a good analysis to begin with and you
will have a bad time in trading.

• Always relax on Friday and take it easy.

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 • To document a trade, take a trade picture (before and after) and if it a win, write down,
how you will take it again the next time and if it is a loss, ask yourself, “How can I take
the better trade next time?”. And repeat this everyday.

• If you can grind out one or two trades with 10 cents lots for each day, that 1000 USD
can turn to 4k-5k in 5-7 months, after which, the compounding then starts.. You just
have to put your consciousness to this. Personally, I want to trade 100 lots everyday
but I understand that it’s a step by step process.

NY SESSION 10-FEBRUARY-2020 (MONDAY)

Raja

• Nothing is risky when you know what you are looking for in the market. It all becomes
a matter of probability.

• You exit the trade in two ways. Either in profit or loss. You should be okay with either
one of them because they are all predetermined.

• Keep hunting for the same thing that you won in the past and keep repeating it over
and over again.

• The best entries are when you do not hesitate in taking entries.

• When you see a big move happen, always ask yourself, “How could I have taken that
move?”

Uncle Ted.

• Compounding in trading is like going to the gym. When you achieve a goal, you add
a little bit more to your weights (lot size). You have to manage your risk and do
whatever you are comfortable with.

• Whenever you start feeling pressured in making a decision, you are most probably
making an uninformed decision most of the time. See trading as standing up which
you do as comfortably as you can. Try and be as comfortable as you can be when
taking a trade.

• The reality of trading in your 20’s is that you just got out of school and most probably
broke. So when you lose money, it pains you more because you feel that this should
have been applied somewhere else. then you put pressure in trading, trying to get
back the loss and then you make more losses. Meanwhile, the money you were
trading with was never even the money you could afford to lose. Always trade with
money you can afford to lose.

• If you do not work full time or part-time, when trading, you will have a very hard
time trading. Think of it as living in your mum’s house versus living on your own. You

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 can easily waltz in and take whatever from the fridge because you know it will be
restocked soon. But when you live alone, you are the one who has to go get it. And
this brings out a different mentality.

• The biggest reason why 90 percent of traders fail is that down the line of say 3
months, you look back and see that you have just made only USD20 on your USD100
account, and then you feel like you have wasted a lot of time and this puts pressure
on your trade because you will feel like crap having put all your hopes and dreams
on this venture that happens to not be paying you at all. Because from a mental
standpoint, you did not prepare for the journey. You may say that you are ready
mentally, but this is a difficult process.

• But if you go get a job either full time or part time, this allows you let your trading
evolve naturally. It may take one week- one year or something like that. This lets you
ease off on the pressure as you see trading as a hobby to be done part time.

NY SESSION 11-FEBRUARY-2020 (TUESDAY)

Raja

• The only way you will mess things up is if you overtrade, over-leverage or trade a lot
of pairs during different sessions.

• Do not have unrealistic targets when mapping out your trading plan. Always
take/secure profits. This will remove the frustration you will experience if your
position initially went into profit and later on hits your stop loss/BE.

Uncle Ted

• Some people do not understand the value of money. they have these unrealistic plans
of making this crazy stupid money. But this does not build a lasting mentality. For
example, if you sit at a poker table with USD500 and make USD1000, why are you still
hanging around aiming for USD10,000. One might say that he lost USD4,000 the
previous day so he/she has to make it back with more profits. This is crazy. You have
to look at the now. If you want big money, you need to put in big money. The more
you stick around the table, the higher the chances of losing.

• But before you get the big money, you ned to grind out the small money. That is why
in poker, you have the $1 and $2 dollar games and if you win, you get to the $5 game,
but if you lose, you go back to the lower levels.

• Having a USD200 gain from trading and then trying to flip that to USD10,000 overnight
is not feasible. That will take you about 8/9 months- 1 year-2 years of steady grind and
you have to be prepared for that. People are not ready to do that. Because their
mindset is not comfortable with how much money is feasible per day to gain with the
money you are currently trading with. This is just payroll management man.

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• If you sit at a 1-3 game in poker and you only have USD200, you are going to play
horribly. But if you got USD20,000, you are going to be fine because you know that
long term, you will beat the markets.

• When you get better as a trader, you begin to see these lapses in people’s judgement/
in the markets which gives you opportunities, just as it is in poker and then you hunt
these trades and eventually keep winning.

• What happens when you are a swinger, is that you get to see these opportunities like
once or twice a week. So maybe you may want to mix a little bit of scalping with this
to maximise the opportunities.

• Try and take profits at the bodies of candles when mapping out your plan as these are
safer moves.

• I usually struggle to understand how people call sells in a bullish market or buys in a
bearish market, without confirmations. Always wait for confirmations.

• Each idea you take as a trade is independent of all other ideas.

• The market does the same thing over and over again. There are always variations but
the overall structure is the same.

• If there is going to be a move in the market, you do not have to chase it because there
will be multiple candles going in your direction. Do not be too quick to take a trade
thinking that you have lost the opportunity.

• Gold and GJ are like professional strippers. You sit there and they start talking to you
like. “Hey what’s your name?” and you will actually think that they like you and you
sit there longer than you should and suddenly you lose like 100 dollars and you do not
know where it went.

• When you look at the weekly ranges as well as the monthly, you begin to have a sense
of direction of the overall HTF targets. But the problem with GJ Is that it whipsaws a
lot, that is why even though you have the HTF target, you still have to keep on securing,
so that when the market hits you out, you still have your profits.

• If you know that you have a wider range, and you know that you are at the bottom of
the range for example, you simply look for major supports to take the trade all the
way up to the top of the range. Same goes for sells.

• If you are having problems understanding these ranges, just move to the lower time
frames like the 30 mins or 1hr and see how price moves within a particular range and
try and find those type of ideas on the higher time frames. It’s the same thing.

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 NY SESSION 12-FEBRUARY-2020 (WEDNESDAY)
Raja

• How you measure volume in a pair is to look at the ranges as well as the candle size.

• It is all a matter of taking the risk. That’s what its all down to.

• When you are looking at candle, please pay attention to the size of those candles as it
signifies the volume. This is why you have to wait for candles to close in your direction
before you take a trade.

Uncle Ted

• The questions about “how long it takes you to be successful” is a very subjective
question. And people should stop asking those sort of questions because it puts you
in a box and then when they do not achieve their own success within the repsonder’s
timeframe, they become frustrated.

• A liquidity grab is when price goes to the opposite direction without any reason but
quickly goes back in the former direction. It measn orders where take to continue in
its initial direction.

• Trading is not a task game where you move on to the next level when you solve a task.
Trading is a probability game where you use a set of rules you are comfortable with
and apply is when you feel most comfortable and hope that the outcome is positive.

• The best education you will actually get is actually doing things on the charts and
breaking things. It’s like a leggo game. The more you work at the charts, break it down,
execute, exit, win and lose, you will develop a style that makes sense to you.

• The more you execute, go back and refine your ideas, the less you become lost.

• You retain more of the knowledge you figured out yourself, than the one people hand
out to you. Don’t always ask how to do something without first trying it out. Go and
experience it and then come back and ask for help on how you can improve and a
mentor or helper can then help you re-evaluate your errors in a more in dept manner
and help you go to the next level. Stop asking what I think gold or GJ will do in the next
minute, this does not help you in anyway. Treat trading like having sex. You need to
experience it before coming to ask some sort of questions about it. You can also just
keep having sex and get better at it.

• When price is in a range, just let it be. You will lose more than you will gain.

• Always focus on the cleaner big candles. Do not stress yourself with the small trades.
If the trade is going to be good for you, you do not need to fight through a range as it
should flow naturally.

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 NY SESSION 13-FEBRUARY-2020 (THURSDAY)

Raja

• A gladiator candle is a candle that does what the other ones couldn’t do. Usually it the
candle that breaks through a support or resistance.

• Trading requires confidence in your abilities. Confidence comes with experience.

Experience comes with execution and execution happen effectively when you make a
plan and stick to it.

Uncle Ted

• When you look at the chart. You have to tell the whole story of the entire pair. Not
from one timeframe. Be able to visualise what’s happened on the weekly and the daily.
So that when you make decisions, you make it with some sort of bias in your head.

• When you are able to visualise the key levels from the higher timeframe without
having to flip back and forth, trading becomes easier at that point.

• The higher timeframe are like tanker ships. It’s very hard for them to switch direction
over the day. You get a pullback during the different market cycles during the day. Try
to keep this in mind when trading.

• Price cannot go down or high to such low or high levels without a catalyst

• Understand that you are playing with money. You have to put yourself in the best
position to win.

• You are not getting paid to move the markets. Your job is just to follow the banks and
pick up their leftovers. Once you humble yourself to this reality, you will be successful.
You need to be comfortable coming in at second place.

• Always remember that there is always an opportunity tomorrow. Forex will always be
here. No FOMO. If what you are looking doesn’t happen in your session, leave it and
come back tomorrow with a fresh plan.

• If you are always looking for pullbacks and retests, you are trapping yourself mentally.
Think about where there will be a break in the action eg 30min or 1hr. which can give
you an opportunity to get in. Be fluid.

• Usually when there is news event, I watch the 15 min candles. This is subjective.

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 • Your probable safe positions to close a trade in TP is at the bodies of candle. When
there is momentum, it may go to the wick and fill them.

• There is no magical solution in trading. It is an art that people look at differently. Once
you find that part that works for you, then you repeat it continually. The thing that
makes trading interesting is that if you are passionate about trading, you will find what
works for you with trial and error, you will succeed. and to me, it’s such beautiful thing
about trading.

NY SESSION 17-FEBRUARY-2020 (MONDAY)

Raja

• Try not to trade on bank holidays.

• Always trade what you see and never what you think.

• Lower timeframes are weak confirmations.

• Success is an option, not a necessity

NY SESSION 18-FEBRUARY-2020 (TUESDAY)

Raja

• The worst thing you can do is to let your position enter into a loss after you were
initially in profit. Secure something man.

• Capital preservation is key. Close some position as soon as price begins to go against
you.

Uncle Ted

• If you are having more losses than win, then you should start reducing the amount of
trades you take a day. This is because you have not figured out something. Look at
why those losses are appearing. The fewer trade you take, the more detailed and
easier it is to analyse later on.

• For my zones, I try to identify the particular price that has lots of candles tapping into
that area. I do not look at the anomaly candles that just flies out and returns in that
area.

• Never see this as a “I won more than you-game” if you have enough money to eat
where you want, hang out with friends, etc, then you are okay. If you have not gotten
there yet, then its still okay and once you keep persevering , you will get there.

• Always look at the whole picture from the monthly and weekly etc. do not get trapped
in the 30 min or 1hr candles.

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 • Your job as a trader is to be in second place after the banks. Never in first place.

• To have a no-trade day is okay. You do not have to trade every day. Last week was a
bit tough in terms of pips for me. But this week, I have been crushing it. It’s a matter
of sticking to the game and preserving capital.

• The more charts and trades you watch and discuss about, the more you reaffirm your
ideas and the more confidence you will have.

NY SESSION 19-FEBRUARY-2020 (WEDNESDAY)

Raja

• Most traders talk themselves out of the trade.

• Always ask what the probability of a candle moving in a particular direction and just
take the trade in the direction that has the highest probability

• No matter the positions I add, my stop-loss will always be the same.

• On Mondays, I am light in terms of position size. But on Tuesday, depending on the

volume, I may increase this. Then on Wednesday, and Thursday I do more. But I relax
a bit on Friday.

• When you look at a currency pair, try to look at the pair that is only influenced by one
currency in a particular session. Eg. (GJ, GA etc)

• Try not to overindulge in the charts. The more you stare at the charts, the more you
overtrade.

Uncle Ted

• Trading gold when we have hit a monthly high or low and there are no candles to the
near left is very stupid. Let the institution decide what next to do and then follow them.

• I am never looking to take a trade every day. I am always looking to preserve capital.

• You do not need to be the best. You just need to do the best with what you have at
the moment.

• Every single day, I wake up and say that I do not want to lose money. It’s all about
capital preservation. I always want to put myself in the best position to win.

• After giant moves, its hard taking a trade on that particular direction. It’s a bit risky for
me. Just let the institutions do what they want to do. If I wanted to take such a trade,
I should have planned for that big move.

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 NY SESSION 24-FEBRUARY-2020 (MONDAY)
Raja
• One thing with GJ in a bearish momentum is that it usually creates some signs of a
push up, and then subsequently push down. So you have to wait for confirmations,
which you can get from the lower timeframes.

• When indices are low, there may be a bullish trend on gold.

• Do not trade on fear but on logic. e.g. when you take a trade that you have been seeing
based on experience and you keep winning, once you lose a trade, you may see
yourself being more hesitant next time such setups show up. But if you understand
probabilities, you can take those same trades on logic and not on fear.

NY SESSION 25-FEBRUARY-2020 (TUESDAY)

Raja

• When candles are huge, then that means that there is a lot of volume.

• I cannot emphasise this enough, you get paid to wait.

• Always ask yourself, ‘what’s the probability of a candle moving in a particular

direction?” If the answer is yes, then you just take the trade. No “buts”

• Try trading a currency pair that is influenced by one currency at your trading time. Eg:
GJ, EJ, GA etc is influenced by the pounds or euros during the pre-NY and NY times
that we trade.

• Being stubborn with a trade or having FOMO and jumping right back in when you have
not assessed anything or planned out your trade cannot help you at all.

• The higher timeframe confirmations are so solid.

NY SESSION 26-FEBRUARY-2020 (WEDNESDAY)

Raja

• When price is in momentum, it will break zones and with GJ, it can be a bulldozer.

• Candles that close with no wick signifies that there is no range to fill.

NY SESSION 28-FEBRUARY-2020 (FRIDAY)

Raja

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 • Most people make losses during the week and then try to get it back on Friday by
going all in. This doesn’t always work.

NY SESSION 2-MARCH-2020 (MONDAY)

Raja

• Once you miss the trade, just try as much as possible to not jump back into the trade
without planning it out.

• People should not come to trading with the mindset that because have graduated
from university, they can venture into forex and make it work without a job. Most
people I have seen succeed have an external source of income and they try out trading
as a hobby

• Trading deals with identifying your weaknesses e.g.: greed= overtrading and then you
need to write it down and then begin to build controls around them. if its greed, then
you can reduce trading to 1-2 trades daily.

Uncle Ted

• Put yourself in a good position to win. If the candles are in a particular direction, take
the trade and if not, don’t. but try to look for ideas that are easy with clear candles,
so you do not have to fight through any support or resistance.

• I tend not to understand how people will trust other people’s analysis with their own
money. Aim to understand the charts and make your own judgements.

• If you are one year or less in trading, understand that you have a lot to learn. It may
be less if you have history of a financial background or have some poker experience.

• Understand that trading is more than just the charts. It involves external things like ;
risk factor, journaling, knowing what to risk, the time to trade, knowing your comfort
level and so on which when known, will reduce your fear and makes the unknow
known.

• Discipline comes from the fact that you keep repeating a thing and thus becomes good
with it. Confidence comes from experience and experience comes from education and
understanding what you are doing.

• Trading is a self-discovery journey.

• A lot of people do not know how to start to be on the right path and that is why we
do what we do. Trading is trading as we buy or sell once the price moves up or down,
but the internal path of it is what really matter here ie: the psychology. People need

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 to strip themselves down and unveil all these inner issues they may have like greed;
anger issue etc. once all these is being figured out and admitted, trading will become
easier as you begin to know your triggers. These issues are okay but it needs to be
identified and people need to take responsibility in controlling it.

• Extra income from your job makes you less worried about trading.

• Do not put timelines on when you will achieve your trade targets as a new trader. Let
it come organically. Put yourself in the best position to help yourself.

• Always think logically. When there is liquidity grab, where would it go to next?

NY SESSION 3-MARCH-2020 (TUESDAY)

Raja

• I think a trade should be exited when the pip target is reached.

• I would recommend reading “10 Essentials of Forex” for anyone who wants to read
about forex.

• The sooner you realise that trading is simple, the sooner you will succeed.

• I think trading after a big move is foolishness and possibly a result of greed.

Uncle Ted

• I get paid to be in second place. I cannot take a sell in a bullish market unless the
institutions change direction and show me that the direction has indeed changed. You
buy when price is up and sell when it is down. You cannot call tops and bottoms.

• I think that a lot of tools and indicators were built to solve the market and I do not
think that the market is solvable. These tools sort of cloud your thinking of what is
happening actually in the market. As the internet has become more well known,
people are starting to realise that it’s all noise. As we grow as trader, we will begin to
realise how the market moves and won’t need to use all these indicators

• Trading is dead simple. Focus on the trend and aim to take pieces every singe day. You
can’t get all these big moves everyday. Take those 5-10 pips and go home if that’s
what is presented to you.

• The first thing you have to do is to determine your main driver: where your motivation
is coming from? what are the daily triggers in your life? and how do you react to it?.
Eg: if you get angry quickly, where does it usually come from, do you become self-
destructive after you are angry, do you oversleep or over-eat as a way to self-destruct.
If yes, you will see that when you are angry with your losing trades, you may overtrade.
Are you angry because of your current financial situation, your current situation in life
etc. get answers to this. Answer this before you take trade because as you deposit

17
 funds and hope to make so much money to better your life, you need to understand
that trading is a slow game that is all about self discovery. You have to get a job to
supplement trading as this is a long process. Treat your 9-5 as an adult daycare, as you
begin to tell yourself that you have something outside that because trading may be
giving you $5 or $10 bucks by the side.

• The small wins shows you there is light at the end of the tunnel. I saw my mistakes in
trading as adding more days of my “jail sentence (being my 9-5 job)” so you have to
tell yourself that you have to be level headed in order to shorten the jail sentence. Try
and use these positive reinforcements when trading.

• There is always going to be that 1 person who does not believe in trading as they may
see it as gambling. Stay away from those people or stop discussing trading with them.
Remove those triggers and then try ingrain yourself into a trading community.

• It is not the charts that influences your mental health and it is not your account side
that controls emotions, but what goes on around you. If you can mitigate this or
remove it completely, then you will see that trading gets better. It’s a gradual step
that will yield results overtime.

• You will get to where you need to go as you take these small steps. It is not going to
be all downward spiral for you. Just get up and put in the work daily.

NY SESSION 4-MARCH-2020 (WEDNESDAY)

Raja

• Number one mistake people make is buying at resistances and selling at support.

• I reduce my lot size when I have to take a trade with a bigger stop loss.

Uncle Ted

• When I plan out my trades, I sought of look beyond the current price action and look
to see where the next big opportunity is (eg: Clean candle movement) and strike on
that.

• There are trades that you may see where price is going but you just couldn’t find an
entry, maybe based on range, risk or candle patterns. Get used to that. This can
happen like 80 % of the time. So you just sit on your hand.

• The biggest goal is not to lose. As a new trader, you need to take small wins as you
build your account. Do not try to be the hero and then aim to catch those whales.

18
 • Get used to making decisions with the facts you have at that time and living with the
outcome.

• When you take a win, you have to understand that you did better than 90% of the
market

NY SESSION 5-MARCH-2020 (THURSDAY)

Raja

• The thing with gold after a massive move is that it may not give you that perfect retest.
Also note momentum that comes in at the end of the hour.

• If I expect a 30 min candle to close bullish or bearish, I begin to look at the 15 min to
close in that direction too.

Uncle Ted.

• We missed these USD$10 moves on gold last year and we were always getting stopped
out and I had to go and back-test it to find out what candle patterns presented itself
on the charts before these moves happen and this year, I have caught like 6-7 of these
moves.

• People need to learn how to decipher information or leverage information. When you
go to baby-pips, you may not have to read from start to finish, you can skim through
and find what you want or what gives you what you need at the moment and go away.
You do not have to read all the pages in a book as it has to be seen as a resource
material.

• Money is only important when you put emphasis on it. When you focus on happiness
and family and see money as just a thing that is a bye product. You need to understand
this. You can’t buy some intangible needs that you require. Try to achieve this before
getting the money and you will notice that money comes easier.

• People have these preconceived notions that having a mansion and throwing parties
all day is the life. You have to understand that people have their lives and won’t always
be at your house all day. We see these stuff in movies and tend to believe that it is the
ideal life.

• My disposition changed when I realised what really mattered. It wasn’t just achieving
goals; it’s about understanding yourself. When you break some psychological barrier
which can be as a result of your upbringing or your circumstances in life; you begin to
see new levels open up for you in trading.

• The last half hour for gold, I have noticed that you either get a massive move up or
down around 8:30 am EST and it begins to stabilise around 9 am

19
 • You need to understand the nuances of the currency you are trading. By being
consistent with a pair, you will be profitable.

• The best thing you can do as a new trader is to sit on your charts and find out why?
Just sit and question why a candle moved the way it did. The more you do the
homework, the better off you will feel.

NY SESSION 09-MARCH-2020 (MONDAY)

Raja

• When you sit and binge watch webinars, it helps your understanding, but you really
have to master your winning trades and copy it the next day. It’s all about execution.

• Some indicators may work for some people but does not work for me. I believe that
price action is primary.

• Try and keep it simple, support and resistance and then try to work your way up.

Uncle Ted

• When looking at GJ, ted mentioned the “flash crash” area. I noticed that this was an
area where the daily candle looking left rejected strongly with a long week. That
increases the probability that price may do same once we get into that area once again.

• Always try to go back to history, it has a funny way of repeating itself.

• I observed that once there is massive panic in the equities market, the US30 and gold
will tank, and then rally up the following Monday.

NY SESSION 10-MARCH-2020 (TUESDAY)

Raja

• Risk is very personal. I have a 120k account and I can decide to go crazy but it’s all very
personal.

• I was always stupefied when Ted always says that some candle momentum may
happen at this time or that time and stuff like that. I never really understood it until I
began to be on the charts at particular times every day.

• You cannot avoid a fakeout because it is a fakeout.

• I usually wait for about an hour after a loss to take another trade.

20
 • I have noticed that as my mark ups/zones got better, my trades get better. Try and
use the first months to get yours zones right. Next will be to start reading candle right.
It is not the other way round.

• Sitting and watching charts for your timeframe helps a lot.

Uncle Ted

• There is no absolute in forex. It’s all probability. You just have to show up and draw
your charts and observe candle patterns and execute.

• You have to be able to always focus on building out a story and that makes sense to
you.

• As a new trader, you need to start training your eyes and begin to start seeing those
nuances ingrained in a particular pair.

NY SESSION 12-MARCH-2020 (THURSDAY)

Raja

• When stops are huge, you lower your lot sizes.

• Just pick a time and focus on the charts within that time. You do not have to be at the
charts all day man.

NY SESSION 13-MARCH-2020 (FRIDAY)

Raja

• Always try to get the easier trade where candles have an easier move either up or
down. Do not fight with the markets bro.

NY SESSION 16-MARCH-2020 (MONDAY)

Raja

• At the beginning, I think you should focus on just executing and not adding positions.
Execute well and have a decent stop loss.

• There is a lot of waiting involved in trading. If you have a job, you would have to wait
for like 3 years for a raise. Its like that with trading. If you are patient, in a year, you
can move from 10 cents lots to 1 lot in a year only if you are patient.

• I always look to see how I could have taken that trade I missed.

• Its normal to miss a trade because of hesitation.

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 NY SESSION 18-MARCH-2020 (THURSDAY)
Raja

• Execution is most important

Uncle Ted

• Understand that after a huge move up or drop, price may likely take a breather to
continue. So you have to understand that one candle in the opposite direction does
not mean that the pattern has changed.

• There is a correlation to people’s grades in school and how they approach trading.
Some took shortcuts in school and now they want to do the same thing again in trading.
It doesn’t work like that. You have to use logic and critical thinking skills when trading
for you to be successful.

NY SESSION 19-MARCH-2020 (FRIDAY)

Raja

• Being patient is a huge part of trading. I cannot emphasise it enough

NY SESSION 24-MARCH-2020 (MONDAY)

Raja

• When I look at the HTF, and my stops are high. I then drop down to a LTF or I lower
my lot size to be able to enter the trade.

NY SESSION 26-MARCH-2020 (WEDNESDAY)

Raja

• Try putting yourself in the best position to win

• Every time I look at a trade, I look at the buy and sell scenarios.

• You cannot be greedy in the market.

• Your first two trades will most likely beyour most profitable trades.

NY SESSION 26-MARCH-2020 (THURSDAY)

Raja

• If price is in a range, identifying support and resistance within the range is risky as the
probability of price going in your intended direction is low.

22
Uncle Ted

• You have to be comfortable with the fact that even if your trade works out, but it did
not give you the opportunity to take it. That is okay.

• If the market is going to trend, its not going to be one candle. There will be many
opportunities. Do not put yourself in a position to enter a trade quickly

NY SESSION 30-MARCH-2020 (MONDAY)

Raja

• Always buy low and sell high. Buy at support and sell at resistance.

• Please always have a stop loss.

• If you want to understand leveraging, risk and margins, just watch “The Signs 1.0 and
2.0” from the YouTube channel.

• Start closing your positions when candles begin to close against you.

• If price is ranging on your pair, please do not jump unto other pairs to take trades. This
will remove your focus from your partner(pair). The more you understand your pair,
the better you will become at trading. It goes with the “one wife happy life” slogan

Uncle Ted

• I never used the simulator. I just literally sat down on the charts and mapped out big
moves and asked, “what candles did before that big move?” this has helped solidify
my foundation to be successful. I just map out these big moves and the time it
happened and asked why? That’s it. People should not just draw support and
resistance and just click buy and sell and hope to take the trade. It has to be more than
that.

• The biggest problem is that people are comparing the income from trading with what
they earn at their jobs. But this comparison is not equal at all. If you break it down,
you probably earn around US$200 a day but you made about US$15 in trading in an
hour. People then fail to add up the monetary value of the job satisfaction, the
commuting cost, the hours at work, the less freedom you have at work etc. All these
will make that US$15 bucks from trading look so great. Its all perspective.

• The key is to put as much money away for yourself so you do not work as much and
then you begin to transition into full time trading. If you successfully do this, you will
see trading become fun because you allow it grow organically.

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 • The biggest thing that helps your positive mentality is knowing that you are making
money in trading by the side and still working. This helps you begin counting down to
the day you will quit your work.

• It’s so simple. If the Daily, 4hr and 1hr is bullish, the trade is going up. Simple. I know
its counterintuitive but it works. There may be times the market may be stupid and
hit you out, but the higher probability will be in your favour.

• The trend will last for more than one candle. The will be multiple opportunities to
enter trades.

• You trade with probability and discipline.

NY SESSION 1-APRIL 2020 (WEDNESDAY)

Raja

• Just try to trade in a particular session and trade 1-2 pairs.

• I think that the first retest are usually the most probable.

Uncle Ted

• You need to begin to look at the return on investment and not the dollar amount will
really help your trading. A 10% return on a USD$100 account is massive. Do not look
at the us$10 but rather the return on investment percentage.

• Just work on what you are doing and tune out all the noise. Block off the IG traders.
Channel the focus on something else. Try not to compare yourself with anyone. Never
lose focus.

NY SESSION 2-APRIL 2020 (THURSDAY)

Raja

• When you understand how much you are risking every single day, it reducs the
emotions

• I come to the chart every day and I decide what my risk will be. I then decide to either
break it down to 2 or 3 trades or jut risk it all in one trade. It’s subjective.

• You can never let the market hurt your feelings. The only thing that can hurt you is
your over risking and over trading.

• There are two types of loss. The one where the probability is not in your favour. And
the second one is where you failed to see something on the charts and took the wrong
trade. The latter needs to be learnt from.

Uncle Ted

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 • We made all those notes, and discussed the trades and why price moved the way it
did in August. We have now been presented with almost a similar scenario in March
and we killed the market because we understood the hand we were being played,
whereas, in August and September last year, we were being stopped out and it was
quite frustrating.

• One trade in a day, week or month will not define you as a trader. People are so scared
to be wrong because they panic a lot. People should live a die by the method and the
process and not the trade.

• You have to understand that once you take a trade, and lose, you need to ask what
could be done better. Imagine that you are in an accident, would you sit there
debating that you are should have done this or that, NOO. You just register it in your
mind what you did that caused the accident, and you get on with your life trying not
to repeat the same mistakes again. That applies to trading.

• I am always looking for candles that have a tail (liquidity wicks). It shows me that
orders were collected to move in my direction.

• In my history of trading, I have always found the higher time frames, a better predictor
of price movement when the lower time frames are just not giving me a clear price
movement.

NY SESSION 6-APRIL 2020 (MONDAY)

Raja

• Most times, price does not usually just go to the target. So you should have to map
out how much you are willing to take as soon as price begins to move in your direction.

• One thing I really struggled with is taking late entries. But over time, i got better.

• If you are having problems with holding, I think you can let a small position run. It will
start small, trust me. If a small position runs into profit, this then helps your
psychology and help you grow to a point where you leave more lot size as runners. .

• Always try to see the HTF to see where price will go to. And then look at the LTF for
entries and stop loss.

Uncle Ted

• Your homework should be done before coming to the charts. When you see these big
moves that you missed, you just have to ask why? And if you hypothesize the reason
for that, then you will write it down and note that. So when that situation comes
around again, you would have been ready for that.

• If the stop loss does not make sense, then there is no opportunity.

25
 NY SESSION 7-APRIL 2020 (TUESDAY)
Raja

• Keep in mind that the New York session open moves may not do a retest.

Uncle Ted

• Do not be stubborn and hold a trade. If you get stopped out, who cares. If the trade
starts getting back in your bias, then you re-evaluate and decide if you will enter again.

• The way to back-test is to look for these small little ideas on the lower timeframe and
find them on the higher timeframe. This is where you start to evolve as a tradeR
because you understand what is happening on the LTF and you are moving it to the
HTF

• The more you begin to see these setups on the HTF, the more you become more
patient and confident, you then start to see these bigger moves. When trades are
beginning to enter into profits for you, you will then begin to look at the HTFs and start
looking at whether your stops make sense in light of the HTF movement. Because
sometimes the HTF will dip a bit before going in your direction.

• As you start to see profitable ideas in the markets, you mind will start to see those
setups every time. It’s all about experience.

NY SESSION 11-MAY 2020 (MONDAY)

Raja

• Prices are always looking left.

• Do not be greedy. Just take your 10 pips or whatever the market gives you and come
back the next day.

• Overtrading is done when you take mindless trades. You have to always take planned
out trades.

• The concept of when price makes a low/high and pulls back, with the probability that
it will retest that low/high has been my bread and butter for the past 2 years.

NY SESSION 12-MAY 2020 (TUESDAY)

Raja

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 • When entering a trade, always try to ensure that there is cleaner traffic to the left and
then just manage the draw down.

• A good range should be like 30 – 40 pips so you can anticipate getting like 20 pips easy.

• You have to be confident in your trades. Don’t doubt yourself.

• If you cut your losses short, it means you are letting your winners run.

• I set a specific amount of money I am willing to lose everyday.

Uncle Ted

• EURUSD has the smallest spread because it the most traded. It appears to be the most
manipulated currency pair

• A lot of people mark up their charts well and still execute poorly because they are
worried about missing these good moves. I think the problem is that the range is not
big enough for you. Because you can never get a better entry or a better exit. The
bigger the range, the higher the margin of error allowable. The bigger ranges allows
for more margin of error.

NY SESSION 13-MAY 2020

Raja
• Try to ask questions oftentimes. Always try to validate and independently analyse
facts put out on the internet.

Uncle Ted

• We always want to maximize our trade ideas. So you can take a runner alongside your
main trade and then let it run if the trade is successful.

• People should take elements of what is discussed here and implement it in their own
life and trading style. If it doesn’t make sense to you, then do not take it. Eg; the fact
that Raja trades only one pair and is successful may help you reduce your pairs if this
makes sense to you. If you take 10 trades or trade 10 pairs and keep failing, then
maybe it is time to step back and review your trades and try to adapt anything we do
here to work for you.

• What makes sense to you will be clearer as you take more trades and execute and
then review yourself.

• Think of a NASCAR race, everyone has the same car but they then have different car
settings like softer tires, faster transmission etc. that is how it is with trading. The live
stream is a base to get something that will help you in the way you trade.

27
 • Sometimes you take 6, 10, 40 pips etc. its doesn’t really matter, but the idea behind
that trade should be relatively the same. Get used to applying the knowledge and
using your cognitive skills and critical thinking.

NY SESSION 19-MAY 2020 (TUESDAY)

Raja

• Whenever I look at candles, I always look to see how I can execute at the moment.

• How to not be emotionally attached to a trade is to be able to know how much you
are risking and being okay with it. Always try to secure something and then let the rest
play out at Break Even.

• I think that your education should be directly proportional to the amount you have to
trade. Eg: if you pay US$2,000 for a course, and then start out your trading journey
with US$200, it doesn’t make sense to me.

Uncle Ted.

• Yes, the US30 is made up of equities, so you need to monitor that too. But the futures
market also helps give us a hint too. When I back-test US30, I try correlating the
earnings and news of the companies contained in the US30 and see how it affects the
movement of price.

• It should not bother you that other persons are making 30% or more in one trade,
provided you stick to your trade and make 1-2%. Do not judge yourself by what others
are doing. Even if you do not have a trade all week just because you are trying to follow
your own rules.

• So when price is a bit slow, start asking why? Then go back and check google, new
events in the economic calendars etc to help you understand the market sentiment at
that point in time.

• It all comes down to risk management and capital preservation.

• (powerful explanation about brokers ) review the livestreams fro today or listen to the
podcast in the further resources below.

NY SESSION 21-MAY 2020 (THURSDAY)

Raja

• As a new trader, I do not think you should be using buy stops or sell stops just yet.

• One bearish candle doesn’t mean the price will go bearish

28
 • Most times, when there is news in London, it will be corrected in Pre-NY/NY

• If you wait, you will get your trades.

• It’s not about making money at the get go. It’s about reducing your losses first

• There are no such things as lions or wolves in the market. You have to be a rabbit or
gezelle that even with a 1 or 2 percent risk of being caught, they flee, because they
know that there is plenty to eat and if it does not happen today, then it will happen
tomorrow. Use that same approach in trading. Take what you can and leave to come
back again tomorrow.

• Imagine the different sessions as a 20yr old, 50 year old and a 90 year old. The first is
the London session, the next is NY and the last is the Asian session

Uncle Ted

• Something to note that uncle ted did today. he came on and saw US30 flying up with
the pre markets data in negative. He scoured the net and tried to figure out why. He
discovered that the poor market data that came out was bad but the market
interpreted it as good because it was not as bad as the previous month.

NY SESSION 22-MAY 2020 (FRIDAY)

Raja.

• In life, you can plan a lot of things but life has its own plans for you.

• There is no such thing as using one strategy on all the pairs but there is such a thing
as trading one pair for a very long time.

• I am more interested in investing for the long time and playing the game for the long
term.

• Fridays have haphazard movements and most times do not usually do what you want
it to do. So you should just be careful.

• Sometimes, not always 100% accurate, the volume kicks in at the last 15 min of the
4hr candle

• You need to have enough range to take a trade

Uncle Ted

• If you are going to be good at something, do not look at past events and use those to
judge your future success. E.g. my friends play online poker and succeed with it but I
was not good at it. Reason was because I was not being honest with myself and not

29
 showing up during the weekends, taking group classes etc so it was me cheating
myself and thinking that because I know them that I should be as good as them even
when I did not do as grind as much as they did. This is not true. Applying it to trading,
and having understood my errors in my past, I approached trading with a better
understanding of myself.

• My first big test was when I lost about 90k in one week as a result of trading the news;
over leveraging; trading against the trends etc. my lesson was not to trade the news
again. The mistakes are there to be learnt from.

• The chioce is either to stop fucking up and just grind this out. For example, for a year
of losing my 90k, I never traded the news though other people did. I never looked at
the money I should have made but rather the bad trades I protected myself from.

• Whenever I take a loss, I make notes (mentally or on my desk)

• I look at my old trades and notice how far I have come. I have adapted. Its all a process.

• You can risk any amount you want, provided you are comfortable with it.

• I cannot sit in the market with a slight air of poor confidence. I have to feel 100% sure
in the decisions I am taking. Sometimes I see Raja take trades and because I am not so
confident in that idea, I sit it out. Do not let people think for you when it comes to
your money.

• Take what people have shown you, learn and leave them. Do not be attached to them
because you need to grow.

• Block out the noise and grow. Do not think that because you are 22 years, that you
cannot earn 20,000 USD. if you do, you limit yourself. Because you have to remember
that the market doesn’t care about you, it only cares that you either make good or
bad decisions. That’s all

• Do not look at your friends making pennies and then limit yourself in trading by feeling
that you are making so much because you made 5000 USD a day in trading. You
deserve it because you put in the effort and your work ethic paid off. The more you
put yourself in this position, the more you will feel good about yourself.

• Do not judge yourself based on the result of others. Focus on yourself, but be brutally
honest with yourself.

NY SESSION 27-MAY 2020 (WEDNESDAY)

Raja.

30
 • Every day I always aim to reduce loses to a minimal. That’s it. I do not worry about the
wins. Because if I reduce the losses, my wins may still be the same, but when
compared to the losses, they then become big/better and finally puts me in the green

• I trade only when I have the time. That is why I trade in the morning. You need to treat
trading like a part time venture. You do not have to sit at the charts all day.

• I started a reset back then with US$5000. The first 5000 profit was the hardest. I think
my next mental barrier was at US$50,000. But the major thing is to keep loses small.

Uncle Ted.

• When you become a more proficient trader, you should be comfortable taking trades
on your own, without copying others. When you make trading your own, it becomes
easier at that point. Because when you copy trades, you have to understand the
trader’s personality and his nuances, which deviates or removes your focus on
yourself and your improvement.

• Trade ideas may be disputed by a lot of people, but that doesn’t invalidate their views
or show that one person is right or wrong. However it is all down to their comfort level.

Further resources

1. Chart with traders- EP 082: How to become the trader you wish you were w/
@FuturesTrader71---- https://chatwithtraders.com/ep-082-futures-trader-71/

2. ExpertTrader Episode 6: From World Series Poker to 8 Figure Trader; A Convo With
Ted Safranko-- https://www.youtube.com/watch?v=TOGzB3GYYFA

3. ExpertTrader Episode 9: Secrets of the Forex Industry: What Your Broker Doesn't
Want You To Know-- https://www.youtube.com/watch?v=dwqwSeVwYiI

4. How Traders Can Apply A Poker Mindset To Beat The Markets w/ Uncle Ted-
https://tradingnut.com/uncle-ted/

5. How Making $2,500/Week Can Screw With Your Trading w/ Raja Rakeel aka
WicksDontLie- https://tradingnut.com/raja-rakeel-wicksdontlie/

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