ICT Mentorship 2022 Introduction

Summary

In this video script, the speaker, known as the 'Demo Baller,' addresses the skepticism around the effectiveness of demo trading and emphasizes the importance of discipline and personal responsibility in trading success. He outlines a mentorship program to teach simplified trading concepts, aiming to transition viewers from 'yearners' to 'learners' and eventually to 'earners.' The speaker also discusses his choice of TD Ameritrade for live trading demonstrations, stressing the platform's credibility and the applicability of his teaching across different trading platforms.

Takeaways

• 🎯 The speaker, known as 'Demo Baller', emphasizes the importance of a correct mindset and discipline in trading, especially when transitioning from demo to live accounts.
• 📈 The speaker will be teaching a simplified version of his trading concepts through a mentorship style on his YouTube channel, aimed at helping traders find consistency in the market.
• 👨‍👧 The content is tailored specifically for his daughter, aiming to provide a straightforward and uncomplicated model for trading that is easy to understand and apply.
• 🚫 The speaker warns against seeking complexity in trading strategies, as it can lead to 'analysis paralysis' and hinder the decision-making process.
• 🛑 He stresses the importance of personal responsibility and discipline in trading, cautioning against the misuse of trading tools and the dangers of overtrading and overleveraging.
• 📊 The speaker plans to demonstrate his trading concepts using a live account on TD Ameritrade, a reputable and regulated broker, to show the applicability of his teachings beyond demo accounts.
• 📅 The speaker will not be providing any content during March 2022, as he will be on vacation, and encourages students to be prepared for this break in mentorship.
• 🔑 The speaker promises to teach concepts that repeat frequently in the market, aiming to improve students' understanding of price action and the ability to read market bias.
• 📉 He acknowledges that not all students will succeed and that individual experiences will vary, emphasizing that success in trading is a personal journey that requires dedication and hard work.
• 📝 The mentorship will be structured in stages, moving from yearning to learning and eventually to earning, with the goal of fostering independent and structured learners.
• 🌐 The speaker will use TradingView as the platform for teaching and demonstrating his concepts, due to its reputability and the speaker's familiarity with it.

Q & A

What is the speaker's moniker and what does it represent?

The speaker's moniker is 'Demo Baller', which represents his approach to teaching trading concepts using demo accounts for the purpose of demonstration and his own protection.

Why do some students struggle to apply the speaker's teachings in live accounts?

Some students struggle because they either cannot submit to the process and time required for their individual development, or they rush and act outside of the provided instructions, leading to failure in both demo and live accounts.

What is the speaker's approach to teaching in his mentorship?

The speaker's approach is to teach a stripped-down version of his concepts in a mentorship style, focusing on a specific trading model without introducing too many complex theories or advanced concepts.

Why does the speaker emphasize the importance of not rushing into live trading?

The speaker emphasizes this because rushing into live trading without proper training and understanding can lead to significant financial risk and potential loss, highlighting the importance of discipline and personal responsibility.

What is the speaker's view on the use of advanced trading platforms for beginners?

The speaker believes that advanced trading platforms can lead to 'analysis paralysis' for beginners, as they may become overwhelmed with too many options and tools, which can hinder their learning process.

What does the speaker promise his students in terms of learning outcomes?

The speaker promises to improve students' understanding of price action, how price is delivered, and how to read the bias on an intraday and daily basis, aiming to help them find consistent setups that repeat over time.

What are the three stages the speaker plans to take his students through in the mentorship?

The three stages are yearning (having a desire to learn), learning (submitting to the structured learning process), and earning (applying the knowledge to become profitable).

Why is the speaker not providing content during March 2022?

The speaker is not providing content during March 2022 because he will be on vacation, taking road trips, and thus will not be working or providing any new material for his students.

What platform does the speaker choose to demonstrate live trading outside of a demo account?

The speaker chooses TD Ameritrade as the platform to demonstrate live trading because it is reputable, regulated, and does not allow for manipulation of trades post-fact, ensuring authenticity of the trading results.

How does the speaker plan to address the challenge of trading with limited margin?

The speaker plans to show students how to work around limited margin by trading micro accounts or using other platforms that offer lower margin requirements, allowing them to participate in the market with smaller capital.

What is the speaker's view on the necessity of personal responsibility in trading?

The speaker strongly believes in the necessity of personal responsibility in trading, stating that traders must own their successes and failures, and that he cannot co-sign for their failures or take responsibility for their actions.