The Difference Between Pattern Trades and Non Pattern Trades (Trade Recap) transcript

What is going on ladies and gentlemen? Uh break even day for me. Uh it's funny. I was trading my tops up on stream and uh I bought this tops up account and I actually blew it. Well, I didn't blow it, I hit the daily loss limit. And I was basically using this to explain the difference between a pattern trade and a not pattern trade. So I'm just going to kind of be using these executions as an example. And this is how retail traders think.

Okay. So the only trade I took in my live today was this one up here. Okay. I actually took this long up there and I went break even. All right. I saw in live time that we just cannot break the LR and on the last wick to the upside right here, I went break even and thank god I get out because uh yeah, I think I lost like 20 bucks on this trade, but that was slippage. But I went break even because if you look at the 15 second here, um dude, it's just I know if I was right, we would have ran that trend line liquidity and we just didn't.

So the second that closed like a dogee candle back in my break even after sleeping that I'm like, "Yeah, I'm out." Okay. Um, for people in my premium premium discord, you can go back in the recording, you can, you know, kind of listen to the second I I just clicked and I took my hands off the mouse and then literally not even two seconds later, we just dumped. But, you know, break even trade for me. And then the other play that I thought was really good and not a pattern trade was this.

And after this was a break even trade, I totally like I'm not trimming live count anymore. Okay. I like this 30 second sauce 15 second. Okay. Uh, I thought it was beautiful. We swept this low inside the F gap. And ideally, most of my plays, I want us sweeping the low and then getting the play right after. I don't want us to come down now, do a bunch of and then keep getting IPGs off of it. I want us to sweep the low, get the play, and then boom, we go up to the high or wherever we're going.

Okay, so that is what I uh that is what I want. Okay. Now, my explanation all that time, which I'm going to post on Instagram for when I logged off my live account, was right here when we got this candle down. It's like 956, you know, and I got break even on this. I'm like, "Yeah, I'm not trading live anymore, you know, another break even trade." Because theoretically, okay, if I go into Trading View and I teach you the logic and how candles should move, should we have retraced here off of a perfect sweep with LRLR above if we're going to get good price action?

Hell no. Absolutely not. Okay, I know for a fact that we would not have retraced there, right? That this should have worked and I know this should have worked based off previous experience and I know it shouldn't have retraced. When I see this get stopped break even, that's where I'm like, "Okay, I'm done. I'm going to EVA, whatever, and everything else until further notice is a pattern trade." Now, in my stream, it's funny.

I said after that candle, I go, "Okay, now we had this long right there, which I took, you know, and I said this is a pattern trade, guys. It's complete pattern trade. I took this. This fails, this fails. I'm like, "Okay, if you guys want a good trade, we have to res sweep the slow at that point. We have to because there was no clean delivery here, right? See how we closed below this for a rally gap and then we closed back above and then we got the long.

No clean delivery, no liquidity sweep." And at that point, we engineered this this low right here, right here, and this low right here. So, every single one of these inversions, even this one, pattern trade, pattern trade, this one, even this was a pattern trade. I took all these and this one actually almost went on. Okay. Um, this wasn't a Okay, wait. This wasn't a pattern trade. But this was a pattern trade right here.

This long. Okay. So, every single one of these from there on out after that 15 second came break even was a pattern trade. Only if we reset the low because we were engineering so much liquidity here and so many orders. I was like, "Okay, we have just too many orders here. Now, every one of these longs is not going to be good. That would be your live account play again." Okay, so we finally rewed it after all the other plays failed.

And I tell everyone, okay, I'm like, this is the good play. This is not a pattern trade. And you can see what should your executions have looked like. Um, I did call this in live time right here. This is what your executions look like. I took this my Apex account, not my live account. I was breaking my live account. So, I'm not going to I'm I'm basically I'm not green for the day, guys. Okay. Uh because I did not secure any payouts from this trade.

But this was not the pattern trade. We swept the low side for a value gap. First DP equal highs scale half and then other stop break even. That was the trade. And then we got this trade right here, which this also wasn't a pattern trade in my opinion. This was a good trade right here. It was and I'm going to go back to Trading View for this, but I called both of these. is I said these are not pattern trades and every single play there's a loss.

I'm like before I even took I'm like this is a pattern trade and it's because of the it's because of everything I just explained basically. Okay, but this one right here um I was like this isn't a pattern trade. It was a one minute OB plus IBG. Okay, so look at this. So was that and that one I was like okay this is not a pattern trade because at that point did we have clean delivery? Yes. Did we have a liquidity sweep?

Yes. Clean delivery. Bodies held disc. Did we need to go back to any of these lows down here? No, we didn't need to go back to this low because we already swept it. So that again, not a pattern trade versus the ones before. No clean delivery, no liquidity sweep. You're just trading IPGs in the range. You know, way worse. So that is my trade recap for today. I know this could have been a blur. A lot of you and some of you were like, "Oh, it's bad price action." Now, what about the short here?

This short terrible. I did not like the short. when I guess my bias. I like the long because I like how the short failed and I like how we got the short after. Okay. I like how we got the long after the short failed, but the second we're not accelerating here and squeezing this these failed shorts out. I that's I just exited before this candle dropped. I'm like, "Yeah, this is cooked." So, that is my recap for the day.

I'll see you guys in the next one. Uh tough day if you uh you know are newer. But yeah, uh I by the way, the play that I did take earlier, which I'm pretty green on my funds is this one right here. I for didn't take my live account cuz I didn't log in fast enough, but I post some execution on social media. Um yeah, I thought this was a banger. We still have the 4 hour sell side and I posted on my story. I was like, if we sweep this low, what in the world is this?

I have no idea what this is. Um okay, anyways, we're just going to ignore that. We we did sweep these lows by a couple ticks. We'll probably come back down and re- sweep them, but for the initial sweep on the 32nd, I thought there was pretty good reaction and OB and good break even and yeah. So, all right. Peace.