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Mastering Price Action & Orderflow w/ @Luckshuryy
Recorded: Sept. 25, 2025 Duration: 1:10:30Space Recording
Short Summary
In a recent episode of 'Spillill the Alpha,' Luxury shared insights on project launches, partnerships, and the importance of focused trading strategies, while highlighting the growing trend towards advanced trading tools in the crypto space.
Full Transcription
Thank you. you you
you hey hey yo how's it going dude good man how are you getting long all good all good chilling
having a great evening same here nice nice we'll give it a couple minutes for people to join in sure um let's see have you traded today how are you handling
this uh this down going market today have i traded today no not at all um wanted to short yesterday
didn't see any you know i had a short bias but no actual reason to execute. So there was actually no trade taken, even though I wanted to see downside yesterday.
We saw it, but there was no execution.
I haven't traded until today or yesterday.
That was it.
Okay, nice.
Yes.
Yeah, I mean, honestly, it happens.
Sometimes you just don't have something concrete enough.
Yeah.
Let's see.
We have a bunch of people.
Is this your first, you said, you mentioned to me that this is your first time doing spaces, right?
Yeah, first ever space.
First ever.
All right right congrats
thanks it's my uh my honor to take your spaces virginity exactly i was about to say the same
thing yeah that's sick um all right i think we can just jump right into it um before we start
i want to uh thank all of our listeners thank you so much for coming this is episode number 23
second season of spillill the Alpha.
Today we have Luxury with us.
How should I call you?
Yeah, Luxury.
That's it.
There you go.
Perfect.
It's a brilliant name.
I want to welcome all of our listeners.
And if you don't follow Luxury, I think you have to.
don't follow luxury i think you have to i think he's a fantastic addition to the timeline not
I think he's a fantastic addition to the timeline.
only that he posts actual setups and trade ideas when he has them he also posts every single day
like this is legit this is legitimately one of the very few accounts that posts educational info
every single day pretty much and i think just having this on the timeline and seeing this you know every single
day when you open twitter is a huge addition if you go to his profile right now you'll see a lot
of write-ups a lot of you know profiles a lot of different um infographics i guess you could call
them uh with different explanations of how to execute trades how to search for ideas setups
and stuff like that um and yeah i think it's just
a fantastic addition make sure to give him a follow um i know that you also have a youtube
channel right yeah correct yeah i have the youtube as well so you can yeah so you can check his
website check his youtube channel subscribe um he is the lead of exo charts if you guys do use
extra charts you're probably known from the discord and if you don't you should check it out uh we He is the lead of ExoCharts. If you guys do use ExoCharts,
you probably know him from Discord.
And if you don't, you should check it out.
We will go a little bit deeper into just price action, order flow,
and stuff like that, and we'll discuss that.
But if you don't use ExoCharts
and you want to get into this type of thing,
you can check he has a free ExoChart course
on his website, which is really awesome
um come again i was gonna say the research has been done i've you know i forgot that
free course on there yeah um always uh and yeah last thing huge thanks to kuma for making these
spaces happen now live with up to 50x leverage and over $10,000 in rewards every single week.
All you have to do is trade and get a piece of that reward.
Well, first of all, actually, I want to know a little bit about your background.
I know that I've been following you for a couple of years now.
I don't remember when did I find your profile, but it was probably around 2021, 2022 or something like that.
How did you get
into crypto and into trading overall um it was around 2018 um i had one of my friends who i you
know i'm still friends to to this day he's no longer doing really trading or anything nowhere
near as much he kind of gave up after like the first few months
beyond 2018 but yeah he got me into it I was doing accounting at the time
wasn't the biggest fan of it you know if I'm going to be honest you know being an accountant is a bit
rough but yeah I started from there he introduced me at the time. It was like to Binance.
And from there, it was kind of like a bit of a blur to what happened.
A few years passed by.
I believe like a year and a bit in, I end up leaving the accounting place and kind of
going on a bit of a trading run.
And, you know, I uncovered certain people like tom dante back then and
you know the girls was at the time you know sm smb capital lance and you know really serious
traders and i'm probably i would test the biggest advocate at the beginning in the beginning because
i only now to this day realize how lucky i was to find those guys so
early on when in reality there was you know i'm not gonna put names out there but there's a lot of
other educators i could have found um that could have led me really far astray and i think that
in itself was probably the biggest point as to what led me in the right direction to begin with
um so yeah 2018 descending triangle time
if anyone remembers that on bitcoin so did you jump in you jumped into crypto straight away not
into like tried fine or something like that correct yeah correct straight into crypto um
never really been into tradfire too much so certain thing you know nowadays a bit more
tradfire like slight parts of it but when we
even say crypto it's really just been btc and i think you know that's also important um to state
you know even when someone in in real life to say ask me about you know what do you trade or
do you trade whatever because sometimes i like to do sometimes work in like public spaces i find it
peaceful to some extent um they always ask what you trade and i say crypto um but i'm
hesitant in saying that i sometimes say just bitcoin because i 90 percent of the time i'm
trading bitcoin maybe ethereum never really alts on the intro there or anything maybe like
for long-term players or anything like that i might do alts very rarely but you know because i feel like when you say these you know i trade alt coins
i trade meme coins it puts a bit of a cloud over things to be honest so to some extent i mean not
that that matters really if you're making money you're making money but i primarily trade bitcoin
and i think that's a bit more of a mature uh I slightly go about things, you know, and I've
been doing it from the beginning.
Yeah, 100%. I mean, I'm on the same boat.
I don't touch any altcoins. Like, I would
say that out of, you know, out of all
my volume, 97%
is just BTC and ETH.
And, you know, sometimes
I'll just want to have some fun and
if some friend is telling me that he's long
some altcoin, I'll just either copy trade or just, you know, try to trade something that's volatile.
Yeah, too much of a boomer for that.
2018 is a very interesting time to start trading because, you know, volatility was dying down.
And then, you know, we had the big dump from 6k all the way down to 3k
um how long did it take you starting in that period to you know just start to feel as though
you're starting to get the hang of things just making a profit finally and was there like a
pivotal moment where you said um you know that's it i'm gonna do this for a living i'm quitting my job and you know just going with it well
that is really interesting you say um back to that part i was already you know very early on
i would really only look at like um i was looking at patterns you know still very early on in the
days i'm looking at patterns you know descent that's why i mentioned the descending triangle
um so i made money through just that big short really like you said from six to three k at the time um i made money from shorting that holding
that for a little bit uh went on a bit of a run and you know at the time i think it's really
important to also put out to the fact that in 2018 i was 17 17 at the 17 18 at the time and really important to say um because i think if i wasn't you know i see it
nowadays a lot more if i wasn't 17 18 um i wouldn't have taken that risk to go i'm gonna go full time
and do this you know um at the time my mother actually said to me she said you know take the
risk now you know you know you can't there's, you know, you don't like doing what you're doing.
We've stated that you don't like doing accounting, but you can't just, you know, do something else randomly.
You have to kind of put the time in and get to it.
And that's where I was like, you know, you're right.
I kind of just got to put the work in and get into trading but more importantly um the take the risk aspect just came from the fact that i thought i was young and it's the time
to do it now rather than you know much later on and you know i can afford to lose everything back
then you know i can't i mean even from a age perspective now i still could to some extent but
uh yeah it's just you know the right side of risk at the time, I would say.
Yeah, I mean, the younger you are, the better you'll be able to handle risk and stuff like that. Just in the sense of, you know, it's totally fine to start over when you're 20, 25 years old.
Because, you know, suddenly you'll find yourself 35 years old with kids and a family.
And, you know, you just cannot take that risk.
And shout out to your mom
dude when i told my mom that i'm dropping out of college uh just to do uh just to do with like the
business stuff i've done after college uh she basically disowned me oh damn yeah no i think
i think that's interesting you said that as well my dad was on the opposite side of it as
well i mean everyone at the time was very excited that you know i was an accountant let's just put
this into perspective here em was really excited i was an accountant but um i wasn't you know
everyone thought it was an amazing job and you know everyone's like why are you leaving to do your own trading thing and like you know you're at a stage now where you know parents retired um
yeah that was one of the biggest accomplishments and it was it's just crazy to see how people's
outside perspective can change um especially when they don't know what's going on in the inside
really because yeah when I was doing accounting was probably my lowest point of everything you know i realized what i definitely
did not want to do with my life um at the time so yeah that's kind of where it all began so you
basically came into trading knowing that you want to quit your job and you've done it basically
instantly pretty much right yeah instantly at the time you know when i started finding trading and
you know i shorted that move down and it was around like three, four, five months into it.
I was like, yeah, this is, you know, I was sitting in the office and I had my phone out and Binance on it.
And, you know, you're seeing the money coming in a bit and you're like, well, what am I doing here?
You know, at this moment, because at that time, I still, you know, even back then I was a big saver.
So just to talk on the funds aspect of of things because that's what's important um you know i'd saved up a bit
at the time you know month on month i was saving basically you know back then my parents would
would not charge me for anything um you know so i was very fortunate on that aspect to i don't have
like really any bills at all so like i'd put aside like 200 pound or a hundred pound for going out on the weekends and stuff.
But the rest of it, I could like completely save and pocket it, you know, and, you know, that helped a lot as well.
So, you know, I always keep that in mind.
100%.
Funny that you say that you were short all the way down to 3K from 6K because I was your counterparty at like 5.5K.
And I got wrecked
i wasn't trading leverage back then i was just trading spot and well i remember i we you know
me and my friends thought like oh yeah the triangle broke but it's gonna fake it's gonna
it's gonna reverse now and go higher um i mean it's interesting to say that you know i i say i
was short from six to three k uh that doesn't mean i knew what i was doing and i think uh it's interesting to say that you know i i say i was short from six to three k
that doesn't mean i knew i was doing and i think it's also important to you know i did this as
much as anyone else did was i i realized uh early luck for skill i would say you know uh there was
no really severe structure around the way i was trading back then i just kind of saw the triangle
shorted and you know like who knows what if that triangle was broken to the upside massively how would i have handled that
i'm sure you know things would have been slightly different back then you know
so i would have been happier yeah exactly but um yeah just don't mistake early luck for school i
would say looking back on that now and it's something that happens really often especially um considering that a lot of people join crypto when they're in a bull market
and uh it happened to me as well i joined in 2017 and you know i i think bitcoin was still low
four figures and um you know altcoins were pretty much non-existent like they were just like in the pennies and stuff
like that ether was sub 100 and i remember me and my friends were just buying xrp eth btc everything
and we were just printing money all of us and you know you very quickly fall into this
into this illusion of like i'm a genius this is this is how i retire my family in two weeks
and then you blow it all up you know yeah yeah it's a classic it's a it's a rite of passage um
what do you feel were the biggest mistakes in like the first two three years until you like became
fully consistent consistently profitable and everything uh what do you feel were the biggest just mistakes and you know just general challenges that you've had um definitely the first one would be not
having a plan you know it's very cliche to say but um just to not have a sort of structure or
you know if i compare my written plan and stuff all of that stuff that i have written down now compared to what i had
back then it's like it's night and day um you know from the sizing i'm going to use to the
entry triggers to where i want to enter to the rules i have that just doesn't exist you know
that doesn't that doesn't exist back then um yeah sorry um yeah that didn't exist back
then so i would say the biggest thing the biggest mistake i made back then was definitely not having
a plan um and i guess also part of that meant that i would trade too much i would over trade
so that would like kind of be the second mistake i made was definitely over trading but that was definitely due to the
not having a plan you know once you have a plan everything becomes clearer and it you know it
reduces a lot of fog in a lot of areas of your trading you know allows you to be patient it
allows you to have conviction um you know i'm sure we'll talk more on plans and stuff like that but
it is a massive massive game changer for me that i would say just not having one is
it's detrimental it's literally detrimental 100 i feel like a lot of people find themselves in
this situation of over trading and it really does really often just ties into you know into them not
having solid plans in the solid you know system it doesn't have to be some crazy edge and it can be just a very basic system that
easily helps you overcome that how did you change that in in yourself yeah that's super interesting
to say because i think um when we talk about the plan and you know number one you have to want to
follow the plan to some extent um so that was like a non-negotiable but also in relation to plans
itself most people think when they say a plan and a system it mainly when many people think you say
system they think that it is systematic mainly meaning that every single thing you're doing is
kind of mechanical it could be done by a bot or robot no that's not the case a lot some
parts of my system are actually discretionary you know um it's harder to define to a robot or
some sort of mechanism whether you're in a balanced or imbalanced state and that's kind
of where your discretion comes into play as well you know all that you have to take into account
all these different factors um and then maybe when it comes down to solely the execution part that stuff is done
semi-mechanically you know i want to see x y and z um but there's also certain things i don't want
to see and i have to take that into account so you know when i talk about systems and plans i i also
really think it's important that it's uh understood that i don't have a completely mechanical system
a lot of it is actually some of it is discretionary you know the way in which I decide my decipher my bias for the day um is all discretionary and
it's more so the waiting for the level you know this defining level so it can be somewhat
discretionary to some extent but you know defining level executing you know have some sort of system
and plan around it in that sense that you know it's guide it needs to be guided by certain rules otherwise you're just kind of guessing and there's no framework at all and i don't know i
i think it's also important to say that even when someone comes up with the plan or the rules etc
it's hard to follow and that's probably the harder part i think most people can create a plan um
it's about how do you convince yourself to follow it and and you know the honest answer
to that is that i don't know what to say to someone in that case because for me it was like
i know if i don't follow the plan i might as well not be here you know like that's the harsh
reality is like if i'm not following this plan i cannot be here um i'm just wasting money um
and that's a massive part to it and then you start tracking okay on
which days am i following the plan on which days am i not are there any external factors as to why
i am following the plan or why i'm not you know and then you start you know you start journaling
everything you're kind of doing and you know i'm kind of a regimented semi-autistic person i would say to that extent um so yeah i've been a ramble there
but you know it's important yeah you know i i a lot of my stuff is very regimented i kind of do
the same thing almost every morning um and i'm looking for all these different tools and ways
to kind of optimize that as much as i can yeah i think i think it really comes down to even having some basic uh you know guidelines like like
you said it's just having this framework of of what you want to see what you don't want to see
it's basically like um like i think tom dante was the one who spoke about it in some of his videos
where he shared like his templates and stuff like that where you know his templates
for his trades contain like what is the daily bias what what do i want to see after my entry
what do i not want to see what happens if it's been an hour and and like nothing happened like
stuff like that which are very very simple questions that will really help you eliminate
a lot of wrongdoings in you know in a fresh new trade
or even if you're just flat or something and i was wondering if you know i checked your website
and it does have a mentoring space there so i do i guess you don't mentor anyone right now but you
used to right yeah there's still people keep in contact with like
rarely but yeah okay yeah there you go so if anyone listening wants to be mentored you can
contact him through the website i guess um well but yeah go ahead yeah go ahead no no go ahead
i was gonna say no you know it's really it's a lot of the mentoring is to keep me on my toes with
you know what we're discussing now to some extent you know it's very lot of the mentoring is to keep me on my toes with you know what we're discussing now to
some extent you know it's very much talking about early mistakes keeping myself grounded
and it's more so done on that basis to keep myself on my toes and whether to see if they're
the right fit you know there's tons of emails i haven't even gone back to so i can't promise i'm
gonna get get back to you but you know take a shot if there's anything interesting anyone wants to talk about, I guess.
Yeah.
So from your experience of working with other people or even just from being on CT or being active in the Discord,
what would you say are the most common issues of traders you've worked with or interacted with?
Are they similar to yours or do you think there's something that happens often that's a little bit different?
One thing that I've seen countless times is like these endless blow ups.
I was going to say the number one thing, but one of the number one things is down to kind of what i did which was just over traded um and this second part is that you know they would
have a few okay weeks um so i knew someone who'd have like a few okay weeks a few okay months you
you know consecutive months and then they'd have two days where they blow up the whole account. I found that really interesting, you know,
and, you know, they blow up the whole account, you know,
months of, you know, work.
And it really got me thinking that you really can't drop your A game
in this business at all.
Like, when I mean at all, I mean, you know, you can do, you know,
even right now for me you know i feel
for anyone you can do years of great work um and you can blow that up in a day you know and
you you can't allow that to happen i've seen it all too many times you know and that's why
one of the biggest things i'd actually recommend is having like risk parameters in place um and what i mean by that is like you know i say it now but in reality it's it's almost so
embodied into me in what i do now where it's like you know you can't take more than x amount of
trades per day so that's one of the things i gave to that guy you know i said look you know
you take you're taking on these days you're categorically blowing up every time you take
more than three trades in a day like it starts to go into mayhem you know don't take more than three trades in a day stick
to that for a week it becomes a habit and you know it's part of your kind of your yourself your being
um you know you're not allowed to lose more than x percent in a day i think everyone talks about
per trade risk but also per day risk is important as well um just so you don't you know because i feel
like good night sleep can kind of reset everything you know um so when you know you risk three percent
a day you go to bed you wake up it's kind of like a fresh state fresh slate um so yeah you know
preventing you going into like a maddening spiral of you know revenge trading exactly exactly and you know it's it's hard to do to say because
especially in crypto and like most people that i know and everyone most people here that want to
be here we're trading on our own there is no one sitting on our shoulder you know you know
that when we get to three bad trades that says hey stop here you have to make it happen yourself
um and that can be difficult
to do especially because it's very easy to lie to yourself you know and you need to be very harsh
with yourself in this business i think is like number one thing and like be constantly brutal
with yourself because yeah things can really spiral out of control um just with a few clicks
you know i've seen it firsthand you know how easy it is to leverage up to the max and not even leverage up to the max but just continuously in out in out you know
i've seen someone get you know this is probably happened to so many people where they get into a
trade they get out it's a bad trade they lost and then i saw it in the journal the guy literally a
few seconds later re-entered the same trade and like it was like something i really wanted to get out like there's
no actual thought you know there's no actual thought process between the first trade and the
second trade there's no gap and processing i think that's really important you know like there should
be some sort of lead so i said to him look if you get out of a trade you have to wait at least 15
minutes to get into the next one because it means you haven't planned and prepped out the next trade anyway um and it's gonna end badly so yeah that i've seen so many mistakes
let's put it that way you know you have to be on your a game um because if you're not one day can
really just completely wipe you out and you want to do everything you can to prevent that from ever
happening yeah i think i think the knowledge of knowing yourself and, you know, being honest with yourself and your emotional situation and like, how stable are you at this moment?
Did the last trade affect you in some way? Did the P&L of today somehow change the way you can or cannot see clearly?
It's just very hard for a lot of people. And I've been there as well. We've all been there, I think, where, you know, just get so emotional because of a loss or or a big win even or a losing streak or something like that
and you just you know you just give in to those emotions and you know you do at a certain moment
ask yourself am i being emotional right now but you're so proud and you know you you can you don't
allow yourself to be honest with yourself and saying, yes, I am.
That you just, you know, you lie to yourself and keep going, which is how that usually happens.
And like you've said, it's those blow ups that that are very common.
Like, again, we've all been there. There's nothing to be ashamed of.
But it's funny that you mentioned that because just a couple of days ago, I was talking to a friend who opened a long on some altcoin.
And he was like, dude, I really hope I wake up and it's up like 25%.
And I'm like, what if you wake up and it's down 25%?
And the first thing it told me is like, why would it be?
And I'm like, motherfucker even you don't ask yourself
that question when you're you know talking about upside why doesn't suddenly matter about the
downside like you know yeah exactly i mean something also super interesting to touch upon
there is that in you know when you're measuring your actual trades it should be based on trade input over
the output um so even before you know the outcome of a trade you should kind of be measuring
your efficiency to some extent as to how you're taking a trade so you know uh and and and the
simplest way to put this is like you could take a winning trade which is horrible and you can do a losing trade which
is done perfectly um and you know win or loss doesn't even matter in the equation whether as
as to whether you're doing actually things right over the long run it's more so like how is your
input because that's measurable if your input to the trades all over the place uh you know you can't
measure it like it's impossible to measure an input that's like all over the place uh you know you can't measure it like it's it's impossible to measure an input
that's like all over the place so yeah yeah 100 not not only the outcome determines if it's a
good trade or not like yeah we're here to make money pnl matters but you know the end of the day
if you gambled if you're you know you just lost your mind you went 25x long on i don't know on some
shitcoin or solana or something and it went up 20 you didn't it wasn't a good trade it was a it
was a very successful gamble yeah but not a good trade um exactly yeah and i want to switch yeah
go ahead i was just gonna say that can backfire on you
you know you know the amount of times i've seen it happen people i don't think people talk about
losses enough um and that's something i really want to talk about more more upon at some stage
even more um you know on the account and you know it's like breaking down you know i've done like
breaking down losing trades and go go and watch them by the way because they're important you know um yeah they're losing your youtube channel yeah
yeah on youtube and even on twitter i posted it on on x you know now as well just videos of you
know me talking through a losing trade and it really helps because you get an insight as to
what i thought and what actually happened so you know it's not all sunshine and
rainbows in in this business like professionally i mean if if if you're looking at the statistics
themselves literally most traders that i speak to that are long-term profitable that are you know
at this point getting into angel investing and whatever because their their portfolio has grown
getting into angel investing and whatever because their their portfolio has grown have a crazy high
um you know losing percent of trades like we're talking like 60 or 70 percent um and they just
have a good enough system where their you know rewards are much bigger than their losses and um
so yeah it's not just about about winning all the time or something like that
losing streaks happen losses happen it's a huge part of the job and uh you know for example i've
spoken to my girlfriend not long ago and i told her like she you know we're walking the dogs and
she asked me how was your day i was all it was shit i lost a bunch of money i just took like three trades today and all of them lost money and she was like oh that sucks it sucks it's uh you
know and all that i was like nah it's okay it's a part of the job you know days like this it's hard
for them to relate you know say i have a girlfriend it's hard for her to relate exactly and obviously
she tries to but it's hard to relate directly to what's going on as well especially with like the
certain numbers that we deal with you know it's numbers on the screen but it's actually you know take the money out sometimes
hold it it's real money you know um taking a few losses it's part of the business so
you know just how you manage it yeah it's literally just an expense like the money in
your trading account should be treated as as just a
business expense it's money you're willing to lose it's money you know that there's a good chance
unfortunately against you um you know if you look at the generally you know worldwide statistics
of traders um and you know if you if you put let's say, $10,000 or $1,000 on the line on a risk you're taking in a trade,
even if you take the loss, it's the risk you've taken to potentially make a bunch of money.
And that's, you know, I think that the better, you know, the longer you're in the space,
the longer you're trading, you should see a progression over time where you distance yourself from this emotional connection of like oh shit i
lost a bunch of money um you know you probably will never fully disconnect from it because you
are human at the end of the day unless you're like mega autistic but it's just a fucking trade it's just the the premium you're paying for doing business
yeah exactly yeah um let's switch things up a little bit i want to talk more about your trading
in particular um i know that nowadays you mainly trade order flow and stuff like that. And I was wondering how was your strategy in trading looked like back in the day when you just started out?
Like how did your just methodologies and tools you use and stuff like that develop since then?
Good point.
I mean, I think it brings it back to say in the beginning, was you know strategy implies that there was planning involved which there wasn't in the
beginning you know so you know to say there was strategy planning from the very very get-go that
didn't happen but um you know it it was more pattern trading you know your trade patterns
you know basics basics classics type thing yeah exactly you know like you but your trade patterns you know basics baby bips classics type thing yeah exactly
you know like you but the thing is you hadn't i had no plans with them you know like whether you
know there was no i think pattern trade is actually fine you know i look back on it pattern
trading is perfectly fine but you've got to have like a system around how you do things how you
actually draw the patterns number one and how you execute upon the patterns you know breaking out or
whatever it is part two you know how are you you know drawing the patterns you know breaking out or whatever is part two you know
how are you you know drawing these patterns you know triangles whatever how you join them wicks
bodies time frames you know you've got to really quantify all of that stuff and then it's you know
at what point are you executing if there's a breakdown okay um what do you want to see you
want to see a certain increase in relative volume um uh but you know you know do you want to see a close below
or whatever or wick below but it to be in the beginning there was no plan uh it it slowly
evolved to like just candlesticks um patterns you know like shooting stars hammers uh that type of
stuff um sr levels again really with no significant plan
but still a shift in the way i was trading and then it went over really to order flow and you
know relative volumes uh you know i would say open interest and started quantifying it there
um but do i use order flow in every single aspect of my trading
right now not necessarily i use it really to execute you know i'm looking for certain things
that i want to see exactly to execute at my certain levels um it's kind of you know if i
talk through the process it's you know i'm where do i want to enter the trade is that isn't actually
based on too much order flow you know i do that through a candlestick chart.
That's where I want to enter the day.
And then it's more so, okay, if price gets to said level, you know,
and I want to execute there for a reversal or whatever or continuation,
whatever, then it shifts over to order flow and some sort of, you know,
system that I want to see.
And I want to see X amount of relative volume,
X amount of delta percentage on x time frame you know it starts to shift that way so you know my system nowadays is you know do i have a bias number one um you
know now i've got a whole system for how do i decipher that you know are we one time framing
are we in a state of balance or imbalance that type of thing
do i have a certain level that i deem as must be hit through data that i've collected
so do i have a bias if not okay i still mark out certain levels for like over extended periods
um i haven't really talked about it but like you know session-based atrs and you know for
like really extended moves um you can use that to track the session-based ATRs.
You know, if price really extends, then I'm not just going to be sitting there.
There must be something to kind of look for a potential mean reversion play.
So I mark out those levels.
But most of the times, if I don't have a bias, it's not going to really overextend anyway
most days.
And those days revolve sitting
sitting around doing nothing most of the time or collecting data whatever it may be generating
ideas if i do have a bias then it's about okay next day next phase let's mark out my levels of
interest for that bias to play out and also let's mark out where this bias is invalidated
i learned that one the hard way where i didn't actually mark out where my bias is invalidated i learned that one the hard way where i didn't actually mark out
where my bias was invalidated i'd get married to the bias and you know let's say i wanted to long
the day and price kept dropping initially it starts to look appealing i long and then it starts
dropping more and more and more and all of a sudden my long bias has gone out the window and i'm just
kind of hoping um so you know bias doesn't be 100 correct all the time but it's just about having a system
around that and so you know i've decided you know where am i wrong on the and this really helps as
well actually you know where am i wrong on this bias if i have one i mark that level out and then
where we are in current price and it gives me like a nice window that's really important like i think
that's key like where am i wrong on this idea and where current price is it gives me like a nice window that's really important like I think that's key like
where am I wrong on this idea and where current price is it gives me like this this nice range of
okay from here to here I can look for longs and it narrows down my levels of interest you know a lot
makes it a lot clearer so I want to actually get involved in the day that way so mark out the level
set alerts if it gets there you know what do I not want to see?
What do I want to see?
And, you know, if I have a system for that as well, you know,
so it's like two, three pages of, you know,
pages or like notes of details, you know, my bias, the level,
the execution.
And those three things kind of all just come into play eventually,
you know, if it hits the level
that's what i want to you know i want to see x amount of volume a reversal a close back above
certain level um and that type of thing and i think also based on that if i have a bias it means
i have a target you know really important if i have a bias it means i have a target level i'm
really interested in price hitting so people always struggle with like tps and like
looking for you know sometimes a first trouble area or like the first sign of resistance for me
if i have a bias it means i have a really significant target i want hitting so like
that's the number one thing i would say i've never really struggled with is the target side
of things because i have such high conviction and where i want price to go on the day because i'm executing based on bias um yeah and i i kind of let it ride to to there or thereabouts if not higher
and beyond that you know i kind of have a trailing strategy but that's kind of my system
that's really solid that made some sense and i think i think even if you you know even if you
don't expand into like the technicalities of, just someone listening to this that doesn't have some framework or system can just use these basic things you've mentioned and just go over them.
Like, for example, the moment you open your charts, you just woke up, had your coffee, went to the gym, whatever.
You turn on your PC, you look at the charts.
Okay, what is my daily bias? where does that bias become invalidated um you know where do i want to do
business and and like you've mentioned in between those things it's a lot of boredom it's a lot of
just dead time we're just waiting for the market and i honestly feel like this is the number one issue
for most participants um because you know again and i mentioned this a thousand times
uh in every every single episode almost when you're in a space where you know the market is
volatile and altcoins are even more volatile and you have like 10 new shiny things popping up every
single day and you follow a thousand people and 500 of them are sharing trades and you know 10x
is here 100x is there it is really hard to have this patience of telling yourself okay i'm interested
in doing business here this is the only thing i'm interested in today and then you're doing nothing um yeah it's hard i mean but this is this is the reality of things that this job is very boring
yeah i i think that's super interesting to say you know i've never
you know i'm not going to be the one who's there who has a hundred different alts laying around
great tech queue on you know like uh my watch this kind of popping off
i think that's really interesting like i've really niched down my and narrowed down my interest
into bitcoin and you know when you've been doing it for that long when you've narrowed down your
interest that long into a certain market there is you know i didn't think it existed really to this
extent but you do have like a sense of not one with the market,
at least because I still have every wallet system, etc. in place,
but you can feel a lot of the certain parts of the market a lot better than...
If I'm going to go pick up a random altcoin,
I don't have any edge there at all.
I don't really have any edge at all.
So, yeah, it's hard to... It's really important's really important really just to nail down I would say
one market to begin with and then slowly slowly expand as you go on and I would say this actually
you know I think for someone who wants to take actionable insight from this you know there's
kind of four things I would say that come from this which is at the beginning of the day come
with a routine
um in the in the sense of you know i'll tell you what i do you know routine in terms of like my
levels you know create a routine in sense of where your high time frame key levels of interest you
know mark all your levels go from top down approach if you want to go that way whatever it is have a
structure behind it you know i'm going from sometimes the day you know the daily to the hourly to the 15 minute you know and i'm marking out certain levels on those and you can
you know create a plan on that and i think most people struggle on that front where they have no
idea where to start um and it doesn't matter just start writing something down because over time
you're going to evolve and adapt to that anyway you're going to change it as you go along it's
something that you're going to constantly be changing so where you start doesn't
matter it's just you're going to be changing it regardless you know wherever you start um
mark out those levels you've done that okay what's your bias for the day have a plan and for that
where do you want to get involved today now that's that's three already and then what do you want to
see if it gets there that's four and answer those four questions in a bit of detail.
And over time, you can adjust, change, and adapt.
And you'll build upon that as it goes along, to be honest.
And yeah, just build upon those four.
And that's something really actionable to take on board.
I'd highly recommend it.
I spoke to some really, really interesting people.
And it's not too dissimilar from what I see really, really insane traders that I admire doing.
That's a really good point.
And like I've said, it's just starting to do something.
And then I feel like the biggest caveat to that is making sure you collect the data, right?
Make sure that you journal everything make sure
that you you know follow up with all this data that you're collecting because you know there's
a very nice saying that uh that i tweeted it back in january 24 uh too many people spend too much
time trying to perfect something before they actually do it instead of waiting for perfection run with what you've got and uh fix it as you go uh yeah and it comes you know it applies to trading as well
but so many people that like i'll give an example i have a really good friend
he's listening to the space right now and he's he's trying to get his trading uh better he's
he's not a good trader he's working on it but uh there's been a time where
i was like what what does your journal say and he was like oh i don't i don't really journal i just
remember the big mistakes and that's it i was like you'll never did nothing will come out of this i
think i think uh that's interesting is that every single really good trader i've spoken to and
you know they find the journaling the reviewing they find it interesting you know they get excited over going over documents over building their own guides and handbooks you know and
if i know the actual trading part is you know it's gambling to something you know
the roulette wheel is exciting but that's not what's going to make you money and you know if
you can find the the documents the building your handbook building your flow diagrams building
the building that exciting it's going to get you a long way you know because you can if you like it
you're going to be consistent and if you're consistent at it it means you can review it better and if you can review it better i mean you're
going to improve so it all kind of leads down the spiral from that source which is just try to enjoy
journaling doing this doing that building your hand but you know one thing i would do it's a
small detail but it's i would say it's an important detail. I use Notion, like a documents app, whatever.
Build something out.
Start typing it out.
Build all these different pages.
Find it interesting.
I mean, that's what I do.
I started from Discord.
I just made a server.
It was just me with different pages and everything.
And I was just writing there.
One of them was like end-of-the-day journaling, where i just rant and write whatever i want the other one was trade trade ideas did
i follow up stuff like that you can just start super basic yeah exactly yeah discord as well
i've been there as well same spot um discord's really good as well you know so you can build
different channels out whatever you do just just be you need to find something you're going to be consistent at because if i say you know it's also really important you don't go
too far down one side of the spectrum to say um where i you know you said you're going to write
out a three let's say you're going to write out an essay every single day like that's just not
realistic you're not going to be consistent at that so you need to find something a really good
detailed kind of medium to some point as to what you're going to be consistent at and what's going
to be valuable you know to you later on you know in terms of review process yeah 100% came into
that um I want to go back to your trading and I know you're leading the extra charts team which is really awesome
it's a tool that I've used a lot I still use it quite often not as often as I used to
three years ago when the market was a little bit more lively
but I wanted to ask you many traders including let me just see what the name was we have um oxtanw3 uh saying is order flow just supply demand on steroids or
am i missing something key here and it's something that you know i see a lot of people mention when
you know other traders like adam are posting order flow charts and different metrics and stuff
like that um and you know i just wanted i was wondering what's your opinion on this whole topic of you
know that a lot of traders stick to very very basic technical analysis methods you know just
a star flip can a star flips candle closes sfps whatever that might be um why do you think people
don't really well not a lot of people, rather,
look into the more advanced side of TA, like order flow footprints and etc.? It can be complicated.
If you don't know what you're looking at, there's a bit of a learning curve to it, for sure.
Without a doubt, there's a learning curve to it.
To understand what you're looking at, understand passive-aggressive flow,
understand the DOM, understand this, understand that,
is important, but that's not the whole picture anyway.
You know, just to answer your question,
I think that's the biggest reason,
is that, you know, number one,
there's an abundance of software out there.
Number two is that I think it's a bit,
it can be complicated for people.
Yeah, the learning curve is way stiffer than,
like way sharper than just learning Japanese candles.
Exactly.
And I think, you know, just to put it on the other end of the spectrum,
I think a lot of people that try to get into it think it's going to be the Holy Grail,
when it's really not.
It's not that either.
You know, it's not you have to get into it.
It's just another subset of tools that either you know it's not you have to get into it um it's
just another subset of tools which allow you to enhance your system really you know you can start
to see deeper things and create systems based on it which is it's quite a boring answer to be honest
to say because i'm sure you know i've probably used the word system a lot in this this discussion but
it that's really what it's down to you know i don't do anything unless it's part of my system anyway
but you know in relation to the order flow um you know it's showing you market
or they're showing you the aggressor but inherently that's showing you what's going on on the passive
side um through aggression and you know measuring aggression and you know you can start building
systems on cvd divergences if you pick just something there for example you know what time
frame you want to see it on you know and when you have all these different you know bitcoin you know crypto
it's just fragmented anywhere between all the different exchanges um you can start to build
like really comprehensive systems you know just something to take into account is um if i give an
example you know you want to see a cvd divergence on the five minute followed by a break of structure
which is on two x relative volume you know you can build that out and that's part of a system that you can't do you
know to some extent regular japanese counsels i mean you can um on trading view and stuff like
that with indicators and stuff but you can go really deep you know not just through that but
through you know the dom and tpo and all these other tools but it's just again like i'm saying
tools to build a system around but
you have to understand them first to then you know build a system around it um you know most
softwares have you know we have like liquidations right and okay you understand what liquidations
are but how do they you know reference really to you know how can you use that to exploit the market
and capture a reversal or something like that you know by identifying liquidation cascades okay liquidation cascades cause
reversals how we're going to spot that and how we're going to build that into our system well
if we see you know 15 million on hyperliquid or by bit combined whatever you know that's part of
a sign of a liquidation cascade in my book i'm going to note that down you know and that number 15 million i came up with will adjust and you can change that
over time or whatever so you know these are just tools they're tools and that's how i use them
you know and they're really they're really good tools if you know how to use them
yeah well you will know how to use them if you check luxury's uh course for free on his website
yeah i think i think that's important to say actually that you know um
most people put out like courses and stuff and whatever but like this is
genuinely it's this it's a free course there's no like sign up
nothing required just put your email in to and that's not even my choice like
yeah you just put an email in and then you get the whole thing
um and it's yeah it's detailed and use that to kind of build some foundations of understanding
order flow and tpo and you know aggregated order flow and footprints and you know you know you're
gonna get somewhere but again i i love order flow more than probably anyone you guys will ever speak to. But again, it requires a level of putting it into a structured plan,
like you said as well.
Yeah.
Well, that's really good.
We have official Elvis in the comments asking,
can you please answer this?
If price gets to a key level,
what do you look out for
with order flow and footprints to confirm buyers sellers are stepping in okay uh yeah that's
interesting so what i would look for personally i mean if we're talking like the primed ideal
situation is now i'm going to get a bit technical here. So slightly. I want to see.
This is recorded.
So if you miss any sentence, you can just listen back.
Yeah.
Okay.
So if Bryce is moving down to my level,
I'd ideally like to see an increase in open interest
just before we get to my level.
Not too far back because that's like the origin of the whole downtrend,
but just before we get to the level.
And then I don't want to see any, know what i don't want to see i don't want to see massive wicks into the level number one on like the 30 minute i don't want to see that
massive wicks because that generally means we're going to come back and fill the wick
so why would i want to long somewhere now where i know we're going to come and revisit later
necessarily is kind of like my my thinking there just just partially um so we've
seen the increase in open interest does that mean i'm going to just jump in there and then no because
i still still based on this hypothetical thing that we've got going on right now that's not even
that's not bullish at all so we've seen the open interest increase no wicks and then prices started
to bounce and i want it to bounce um and just about get back above where the open
interest had increased from you know so where we saw the open interest starting to increase
price needs to get back above where that originated from if it does that those new shorts who have
been shorting down there because you know open interest increasing means people are actually
opening positions I want to then see you know those positions underwater and you know i'm going to be capturing
to some extent you know they're they're being underwater they're going to start to unwind
their positioning causing full fuel back to the upside so i'm just you know leveraging off that
momentum info and again that's part of it you know i must have a level back to the upside to target.
Otherwise, I would be doing this with all these little intraday micro rotations.
But yeah, really the stars have to align for this to work for me in my case.
But yeah, open interest increasing, back above it,
and look for further move to the upside.
Alternatively, it's a combination of the order flow and candlestick you know structure like i said the wicks are really important i don't want
to see that i don't like seeing massive wicks they really don't work out for me so there's that i
want to see liquidations i also want to see volume spike as well after this so there's those different
factors take into account but overall you know look for a combination of where is new positions opening into your level and at what point are they pushed offside and
that's kind of answering both of the questions there yeah what i what i really loved about
order flow when i was getting into it like i said i i'll be honest i don't use it that much nowadays
um but what i loved about it especially when I was still trading the lower timeframes,
was that I feel like a very good way to, you know,
differentiating Japanese candles
and like more advanced order flow is just, you know,
when you're looking at just candlesticks
and, you know, Japanese candles,
you see just the technicalities,
like the levels, you know, support levels and stuff like technicalities like the levels you know support
levels and stuff like that it helps you kind of like define the risks of trades right which is
also an important definition because a lot of people think that when you're doing you know
when you're posting some ta levels it's like you're trying to predict the future no you're not
you're just they're helping you define your risk um but when you're looking at you know footprint
and stuff like that you really get
into the psychological side of trading like you see where are people of side when are they you
know about to throw up where is their pain zones and stuff like that which to me was so fascinating
like when i started learning like the whole you know auction market theory and everything
um and yeah i think like honestly i'll add to your answer i think every
single person needs to look into it if you're trading it's worth to check it out you might
find it you know useless you might tell yourself this is not something that will help you
um but it is something really really cool if uh i think yeah i think yeah i think it's good that
even if you don't use it fully you still have an
understanding of what you know it helps you to learn how markets work really like yeah what's
going on behind those candles exactly and that's super important you know i i don't know one single
professional trader who actually doesn't know what like passive aggressive flow is you know what
maker and taker you know that type of detail it's very basic
but you know you don't really need to dive into that if you're just using candlesticks and
that's why i think it's important you do just just take a little swim in the shallow end
of the order flow and footprint and market profile stuff you know yeah there you go um i was wondering
about like the cycle like mentioning the psychological side of things
how do you manage the you know the stressful aspect of trading like just the volatile swings
and you know dealing with the stress of being underwater or just having a you know huge win
whatever that is like trading crypto feels like a really you know psychological stretch
stretch and yeah how do you handle that it is if you
have to manage everything and i've really isolated myself from managing positions a lot i don't
really have to manage anything anymore um what i mean by that is i used to manage my trades
constantly until i you know again i my journal literally told me that, you know, I'm losing money through managing.
You know, I'm cutting losing trades.
I should, you know, maybe sometimes on the other occasion, I'll cut a losing trade that would go on to be a full loser.
But more often than not, sometimes I'd cut winners too short.
You know, if something was deadling, I would, you know, I would cut it when I shouldn't have.
And that was overall affecting, you know i would cut it when i shouldn't have and and that was overall affecting you know monetary returns so what that meant was i would make more money by doing nothing
you know i'd enter my stop would be placed you know basically a lot of my stuff is i'd you know
look wait for my entry does it come yes if i'm in once i'm in it's either my stop is here or my
target is here and what if the stop is here
that's fine i'm out if my target is here you know the rest the remainder of the position i start to
trail on um there are a few other things to take into account um but when i'm doing that because
i've got that type of setup in place um it means that i don't have to stress so much over the actual trading itself.
I mean, I still will, let's say I have a massive winner.
Like I said earlier, the outcome of the trade doesn't bother me anymore.
And I think this is just more of a psychological thing that I've trained myself to do,
that I'm much more irritated and psychologically stressed out with myself
if I take a trade and like the input process
is horrible you know even if I have a massive winner and you know I knew it was a bad trade I
shouldn't have taken it if that happens ever nowadays it not rare you know very very rarely
happens you know that's more psychologically stressful than actually the out you know the
big swings in volatility I would say i i measure
everything based on my input like because i'm very much you know subconsciously aware that the
outcome will take care of itself so it's all about measuring and you know just keeping an eye on you
know how am i inputting every single trade am i planned am i you know is it following my process and if it's not that's where i get more psychologically stressed out it's a massive problem you know i start
thinking why why am i not following it yeah i feel like if any person trading takes an approach
that's similar to yours where everything is really way more data-based right like you know you're analyzing
the numbers you know what you're inputting you know what's the output that's coming
at the end of the day it really helps to disconnect from the emotional side of things
because you're not just you know jumping into the water not knowing what's gonna be in there
yeah i also want to say that i i'm not a data wizard like you
know i'm i have my plan and everything like that but i'm not a data wizard i think most people
make me out and think that i'm like some sort of data wizard but i really am not i'm not even close
i know how to use excel i know how to use certain other programs etc but i'm not a data wizard from from that perspective you know like
there's um if you have a basic plan like you know text and not even numbers text you can adjust and
refine that as you go along um and i think that's also really important to point out that it's not
just you need to be like some form of quant wizard you know it would help if you know like some very basic numbers like i do i guess
but you know just write things down and gradually improve them over time yeah
dude don't don't nowadays nowadays most of my journaling is on the notes app and on my iphone
yeah that's what you need as long as i think that's in that's insanely important and and as long as you can go back you know you've got the date as to when you've done it you can go back and find the date anytime that's all that matters
really you know that's all that is really matters you know um is that you saw them somewhat
structured and and you know i don't want people kind of rejecting or neglecting the idea of of
what i'm going about because they think it's too technically above them it's really not there's no excuse for
it brilliant um i have two last questions for you um and before we jump into them i want to say
uh mention matthew is in the replies saying your exo course was very helpful and you guys uh and
as you guys said i learned literally everything about order flow and although
i use only like 10 of it nowadays it helped me a lot to just understand what's going on behind
the candles so there we go guys make sure to check out luxury service oh thank you um i was
wondering what advice would you give your younger self or someone listening to the space right now that is just you know in his first steps in the trading world that's interesting i would say trade less narrow
down into one coin that's it those two um but just think about trading less and think about
trading one coin it will give you a massive advantage you
have a lot more thinking space beyond that those are the two actionable things i would say to
both my younger self and anyone else listening really um trade less and narrow down what you're
trading you know seriously uh you know i've talked about enough plans and all of that stuff i still
view that as extremely important but if you can think about those two you know narrow down um you know what you're trading
and how often you're trading you have a lot more thinking space and with that thinking space i'm
sure you'll naturally gravitate towards thinking yourself on your own that you need your own plan
and all of this stuff anyway so yeah yeah it's really good
advice i feel like it's really good advice especially nowadays where you have you know
10 000 new coins every single day um oh yeah and also like you know when you're trading one thing
you really have the time to focus on just improving your skill set rather than just getting used to you know different flows uh you
know different uh way of you know how the coin behaves and stuff like that which you know once
you start really focusing on one asset you will notice that you know it has its own kind of like
behavior that thing um yeah trading less things is is huge i think any i think any person that has more than
10 things on his watch list that are active that like he's trading actively is mental
oh it's crazy that's it's absolutely crazy yeah you know i mean i can understand having like
you know i don't know maybe like 10 or even 20 swing positions, you know, stuff that you don't really like touch things that you just bought because, you know, you want to have some beta or something like that.
But like actively trying to day trade like 20 things is just mental.
Very.
It's beyond absurd.
People taking final. very it's beyond people taking you know go back to like one
two and if you
only then like can you think about
you want to expand like most
people if they took one pair they're not good at you know
they're making no money you know so
why are they trying to take ten you know
it doesn't make sense
it's like the people have one
kid and he's a messenger like let's have
another kid it'll fix our marriage oh exactly that's a great that's a great analogy yeah well
i have one last question for you um and uh i was wondering what do you believe making it is and do
you feel like you've made it oh that's a good question that's more of a personal question i i'm let me that's interesting i i think making it is
i i say this but you know it's being able to do what you want with who you want wherever you want
i always say that but have i have i made it uh no i haven't made it to be honest um and i'm on that path with
i think with most other people uh i think if you if i look at my life now and go you know
a lot of people would go well you know he's made it but there's still a lot of things that i i want
to do that i haven't done um you know, both from a life perspective and a trading career perspective that I want to hit, you know, so there's still a long way to go.
You know, I want to be able to, I want to hit, you know, eight, nine figures, is it nine, eight, nine, yeah, eight, nine figures in trading.
eight nine figures is it nine eight nine yeah eight nine figures in trading you know that's
that's where i want to really head towards um going and i'll be open about that and you know
how i get there and figuring out that path is what i'm really working on next you know how do i get
to 10 fifth you know 10 20 30 million and and eventually maybe 100 and that's you know it's a really nuanced path
to be honest and yeah that's just a personal approach of the way i'm going about things so
we'll see if i get there and hopefully you can all follow me along for the journey to be honest
yeah well i've been leaving you still young really young and you've got all the time in the world i'm
gonna be 30 next month and it's already over for me so i failed in my journey but it's not over at
all it's never over yeah it's never over um well that's pretty much it from me thank you so much
man this was really really awesome i think uh i'm pretty sure the audience really enjoyed it as well and uh i
really think you should be uh we should we should do this again sometime this is definitely this
is really awesome uh is there anything else you want to add before we wrap things up no nothing
in particular i want to say everyone thank you for coming along you know hopefully you found something
valuable go listen to it again maybe there's something i said that i could maybe you brushed over i don't know but um it's been awesome delta thank you
again for the insightful questions as well make sure to give him a follow guys um i think again
like i said earlier this will be a fantastic addition to your timeline if you have any
questions go bug him in the dms check his website out i'm sure you can learn a lot from it i was
just telling him earlier today how cool his website is and i wish that i had a website like that
um but yeah make sure to check that out and again luxury thank you so much for coming me this was
really really awesome uh before we end the show uh thank you to all the audience for coming as well huge huge huge to have you guys on with us it wouldn't be the same
I will have updates on
future episodes and stuff like that
in my profile and in the Kuma profile
so make sure to give Kuma a follow
to stay on date with that
there will be notes on Monday
shout out to our
note taker Manuel who is
in the background via end of kuma account
taking notes that i post and steal all the credits for uh and there will be a recording available
once this space ends so if you missed anything if you want to hear something once again
uh you can just play it around as soon as the space ends. And again, huge, huge, huge thank you to Guma for making these spaces happen.
Now live with up to 50X leverage.
We are giving out $10,000, over $10,000 actually, every single week.
And all you have to do is trade.
And the more trading volume you do, the more you will get.
We also have a weekly raffle
that we give out $1,200 in rewards,
which again, the more trading volume you do,
the more raffle tickets you will have.
And also we have five new listings this week
and over 30 new markets
that we have launched with improved liquidity.
So make sure to check that out.
And if you have any suggestions of coins you
want to see make sure to give us those suggestions in the discord vaults are coming really really
soon and also a points program so all the farmers all the people that like uh speculating on points
and stuff like that welcome welcome uh so everything is on its way will be coming sooner
than you guys think.
Make sure to check out the blog and join the Discord
if you want to stay up to date on everything.
Or just come to MySpace next week on Thursday.
And I'll give you all the freshest things.
That's pretty much it.
Again, Luxury, huge shout out to you.
Thank you, man, for coming.
To all of our listeners.
Thank you, guys.
It wouldn't be the same without you. And I'll you guys next week bye-bye thank you bye-bye see
