Summary of "$17,000,000 IN TRADING"

The video is a live trading session and discussion focusing on trading strategies, mindset, market analysis, and personal experiences from a trader who has made significant profits (up to $17 million) primarily through trading Gold and other instruments like NASDAQ and Crypto. The presenter shares detailed insights into his trading setups, risk management, scaling strategies, emotional control, and lessons learned from both wins and losses.

Main Financial Strategies and Market Analyses

Trading Setup and Market Structure Analysis:
- Focus on higher time frames (1-hour and 4-hour charts) to identify overall trend direction.
- Use of swing highs and swing lows to determine support and resistance.
- Trading corrections within trends, especially waiting for price to make higher lows and lower highs on smaller time frames (5-minute, 15-minute).
- Trading Gold primarily due to its consistent setups and clear trend behavior.
- Use of Pivot Points (pivot point high and low indicators) to assist in identifying swing points.
- Understanding key levels where sellers or buyers become active to anticipate price reactions.
Risk Management and Stop Loss Placement:
- Stop losses are placed below key support levels or swing lows for buy trades.
- Preference for using lower time frame stop losses if higher time frame stops are too large.
- Importance of closing trades when price approaches target levels rather than waiting for exact hits.
Scaling and Position Sizing:
- Emphasis on quality setups over quantity of trades.
- Scaling involves increasing lot size after consistent profits rather than chasing many trades.
- Example given: Turning $3,000 into $13,000 by holding onto a strong trend and adding to positions strategically.
- Risk-to-reward ratios of 1:3, 1:4, or better are preferred for scaling.
- Advises against overleveraging and emotional trading that leads to rapid losses.
- Encourages partial closes and holding positions through trend moves.
Emotional Discipline and Trading Psychology:
- Strong warning against overtrading and chasing losses.
- Example of a trader who made $1,000 in a trade but lost it all by entering multiple impulsive trades afterward.
- Advice: Stop trading for the day after a loss or a good win to avoid emotional decisions.
- Use of tools like phone “bricks” (apps or devices that lock trading apps) to prevent impulsive trading.
- Emphasizes self-discipline and patience as keys to long-term success.
Tax and Business Management:
- Uses business structures (registered businesses in the US and Europe) for tax efficiency.
- Writes off expenses such as electronics, office space, travel, and business dinners.
- Recommends hiring professionals (CPA, lawyers) to manage taxes.
- Advises using Coinbase for Crypto transaction tracking and linking it to business accounts to avoid double taxation.
Market Instruments and Preferences:
- Primarily trades Gold, NASDAQ, and Crypto.
- Has traded forex pairs but prefers Gold due to clearer setups.
- Avoids scalping and lower time frame trading without confirming trend on higher time frames.
- Shares personal history of switching between instruments based on market conditions and personal preference.
Mentorship and Influences:
- Mentions learning from traders like Zack Morris and observing traders like “100x” who make multi-million dollar trades.
- Recognizes the role of luck early on but credits consistent work and learning for sustained success.

Step-by-Step Guide / Methodology for Scaling and Trading

Step 1: Identify the overall trend on higher time frames (1-hour, 4-hour).
Step 2: Use swing highs and lows, Pivot Points, and market structure to find entry points.
Step 3: Wait for confirmation on lower time frames (5-minute, 15-minute) such as higher lows or breaks of lower highs.
Step 4: Enter trades with appropriate stop losses just below/above key support/resistance.
Step 5: Target risk-to-reward ratios of at least 1:3 or 1:4.
Step 6: Scale position size gradually after consistent profits rather than chasing multiple trades.
Step 7: Use partial closes and hold trades through trend continuation.
Step 8: Stop trading for the day after a loss or significant win to maintain discipline.
Step 9: Use tools (like phone locks) to prevent emotional or impulsive trading.
Step 10: Manage taxes and business finances through registered entities and professional help.

Business Trends and Insights

The trader uses content creation (YouTube, Instagram) to support business write-offs.
Travel and lifestyle are integrated into the business model for tax advantages.
Prop firms are seen as useful if managed well but not essential.