12x CHAMPION Reveals His “3-TOUCH” Strategy That Won Robbins Cup (Step-by-Step)

He is back. This is world champion Patrick Nil. He's currently first place in the Robins World Cup championship and has placed top five in this competition 12 [music] times. So I flew him out to Dubai for one thing, to show me the exact strategy he used to become one of the most frequent world champions ever. >> So Price can come beneath the range here, right? [music] >> And then reclaim, right? And you'll you would take a long right here at this circle. >> Yeah, that's is the perfect trait. >> I love when it [music] has the third confirmation. >> Yeah. >> Then then for me it's good. >> So three. >> Yeah. >> Here or here? One, two, three. Somewhere for sure. It's much early uh P or B or D. But I I wait very long because then it the probability is more uh bigger [music] for the breakout. >> Patrick uses one of the most sophisticated trading processes I've ever seen. He uses price structure to identify fair value ranges to define where he wants to trade, specific confirmation patterns to filter false breakouts, then the structure of the move to determine his entries, stops, and [music] targets. So that's that's pretty much the the model then, right? That's all. >> But then Patrick said something that completely threw me off. This strategy, the one he became a world champion with, is actually incredibly [snorts] simple. Simple enough that anyone can understand the framework. >> And most time this is a really good risk cre [music] uh risk ratio. Perhaps I have my stop here or even over the film. So, I have my risk ratio [music] from three and then I feel comfortable. That's that's a perfect perfect way for me. >> What you're about to watch has never existed before. A 12-time Robins World Cup champion breaking down the exact strategy that won him each and every title live in person step by step from the very first thing he checks at the opening bell to the exact moment he enters and exits a trade. And then Patrick reveals the process he uses to stay consistent through losing streaks, recognize when market conditions no longer fit his edge, and avoid the mistakes that cause traders to abandon good strategies too early. Nothing in this video is financial advice. Everything discussed is just the insights of one of the greatest traders in history. Now, let's see what Patrick is made of. Now, Patrick, can you walk me through what the start of your trading day looks like from from start to finish and ideally how your strategy fits into your analysis and where you take trades and exit them? >> Yeah, sure. Yeah, I can try. [laughter] >> When you look to the markets, the markets, they they have rules. >> They always move like this. have a little bit that once more. Come down. >> Now, Patrick, before you explain more, why do markets do this? >> Because um when you're when you're a big player, you can't you don't like this 70% the markets they are searching liquidity. >> Mhm. And you you see here 70% of the days you're in ranges >> and there the the big players can can get their orders right >> here. And when a big player wants when there's not much um enough um liquidity, they go in one side and push it up. >> Mhm. Okay. >> And and search the next liquidity or here. So, but that's that are the the things I'm looking and so you have 20 30% of the time you have the trend. >> Mhm. >> And the rest of the day or you have the ranges. >> And Patrick, when you mark these ranges here, do you have a method that you use? >> For sure. Yeah. >> Yeah. >> Yes. It's I don't tell it. No. [laughter] Not not in in the secrets. Okay. But uh there is a there are some rules to sign the the zones. Yeah, for sure. But in the in the whole you you have uh big big dump or vice versa. >> Yeah. >> And and then you have you sign your you your your zone and it's important to be you can tra if you can trade here or here or here that are the the positions you can trade. So then you would take trades at the lower extreme of the zone and the upper extreme. >> Yeah. >> We start here on the P. >> There are some if you you can wait if you go up for this. >> Mhm. >> Or you I love to wait till it comes down for this. And here I go short because when Yeah, this is the good the good thing if you have trend following. >> This is the best trade. >> Yeah. >> But uh I love to to to have this trade when it comes back because then I have I take my take profit near the the beginning of the move. >> Mhm. And most time this is a real good risk cre uh risk ratio. Perhaps I have my stop here or even over the zone. So I have my risk ratio from three >> and then I feel comfortable. Yeah, that's that's a perfect perfect way for me. And when when it goes up at the moment, we're at alltime high and you you have nothing in the past. Where do you take your take profits? >> Mhm. >> It's it's difficult. >> Yeah. So >> it's the better way better way. >> So then um quick question. If you take this short here, you said the target goes down here, right? >> Yeah. It normally goes real fast the way back. Do you so would you put the target let's say at the previous uh range is that >> that's the second >> when you for this example you have a second move up >> Mhm. the next the next range. And when you have this this short trade, you you wait to this. I would take my first uh take profit here on the on the upside of the zone. >> My second takerit here on the here I would look what happens. >> Mhm. >> And uh the the the last take profit I would take here on the beginning of the whole movement. Yes. So you're kind of trading from fair value to fair value to fair value. >> Yeah, that's correct. Yeah. And if you trade here or short, you have so much uh risk ratio. >> Yeah, >> that is that's is would be good when you have it every day. >> But no, you don't have >> and so on the long side you you said if it's going to all-time high, right? Let's say there's no previous fair value, you still take the long trade. >> Yeah, for sure. Yeah, it's also it's it's it's the better trade. >> It's you have uh stren strong in the market and then it's better to to trend follow. >> Mhm. >> But for me the feeling is better goes down. [laughter] I'm happy. But also this is okay. Normally I wait for how do you call you? You don't go in the market. You wait for confirmation. >> And if it goes too fast, I'm often not in the market. >> Well, what what does confirmation what is that for you? >> If we have a candle who goes out or two and it goes back to to the the upside of the zone and when we have the next candle who who ends over this candle, it's for me confirmation. So, one candle breaks out to the upside and the next candle closes higher. >> Yeah. Or goes to the to the zone and and then close higher. >> Uh, so it dips back in the zone and then closes higher. >> That would be great. Yeah, >> that would be great. And then you >> looks exciting. [laughter] >> And then you enter on a market order. >> Not every time. Uh most time I have a limit order here >> and and wait and hope that is still they fit me >> and yeah so that is more the breakout strategy right and you would do this to the short side. >> I I call it also breakout but breakout down or >> Yeah. >> And and the best the best is if it goes down to here and closes here and then you can take the whole move up. That's the perfect one because you have uh a very uh slow no very small stop loss perhaps here. >> Mhm. >> And um a huge huge uh strike in a home. >> Okay. Yeah. So, so I'm actually wondering then so price can come beneath the range here, right? >> And then reclaim, right? And you'll you would take a long right here at this circle. Yeah, that's perfect. >> Really? And you wouldn't target the top of the range? You would keep holding. >> Yeah. >> And so why does price then when it does this specific move not stop at the top of the range? Why does it keep going? >> You don't know. [laughter] But but for me it goes down. He wants down and his the power was too to too >> to too less >> and goes back. So hey, you have the confirmation. No, it go doesn't go down. So he goes up. Mhm. I see. >> But truly, you don't know. Sometimes it it goes to here and then but back you don't know. But the risky rod is so so beautiful. And >> yeah. So what then for this trade again would you take some profit here? >> Yes, >> you do. >> When when I have several positions, I would I would take one to 30% perhaps. I would take here and the rest. >> 30%. And so you'd be like break even. So you can't lose. >> Yeah. Yeah, >> I often take uh the multiple of three. >> Mhm. >> So I I can close one or two and the rest or or a multiple from them. >> Right. And uh would you do this same trade on the upside and reclaim the range to the downside? >> Sometimes I do for sure. Yeah. But when when it I don't like it because when it goes up there's so much power. >> Mhm. >> And the prob probability is not the best to go down. >> Well, why do you why do you think it's like that? So you favor that strategy on the long side, right? >> When power is in the market, >> normally there comes more power. >> The it's it's the better trade. >> Yeah. And that's just how maybe go uh I'm sorry oil and the DAX are their um they favor you know. Yeah. Okay. >> It's it it's different where we are when the market comes comes back down and the next time he is here and make here or so then it's perhaps totally different. >> Mhm. >> It it depends what what's in the in the previous session happens. I am not the best printer. >> So Patrick then for your range trading. >> Yeah. >> Do you set like a limit order at the bottom of the range here? >> Yes, >> you do. >> That's here. It's there you have peace. >> Here what we have a a B and sometimes you have range and then it's easy to to make a limit order here or here. And where would you put the target if you take >> the other side of Cass? >> So the if you long here >> target there >> and no partials when you use this just all out. >> I have no strict rules. >> But normally no no partials >> and we're >> but here here it's too too too early. You don't know that it's it's a D here. Here I would take sorry there I was too too fast here. Yeah, >> that's that would be too fast. Yeah. >> So, where does your stop loss go? >> I would look right. If we have something and sometimes if you have I have nothing to to to look >> I look to to this and I don't know we have 200 points >> and then I took a stop loss for 30 points 40 points. So I have a risk reward from more than three. So you so based on where the target is that's will factor into where you put the stop loss >> sometimes. Yeah. When I have nothing to to do. >> Yeah. >> Normally you have perhaps here is a low or >> when I'm at home I have market and volume profile and there there I have zones and then then you can take your your stop loss on the zones where you >> make in in market profile. So you do use volume profile with this? >> Yes. When I'm at home on the screens. >> Yeah. >> I I love if we have >> perhaps here a zone from market volume profile and then it's perfect if we make a under the zone or the in the zone >> P or B. >> For sure when we are under the zone and make this then I would love would love to go here short. So then I'm curious with the breakout strategy version you you have drawn a couple times where price comes down pulls back. >> Mhm. >> Right. And then keeps going. >> Yeah. >> How important is that pullback that that that first pullback? >> For me it's really important because otherwise you need a confirmations. You have often forced breakouts. >> Mhm. and and to avoid them in trading. I want to I want to see the confirmation. >> Mhm. >> But if you don't have here or you are not in the trade, it's >> it's a bad day. [laughter] >> So what makes this confirmation though? >> This is it because it breaks that low right there. It forms a low. >> It's a second lower low. Yeah. >> Okay. So it forms a low, pulls back and then breaks it. >> Yeah. That's the confirmation breakout >> for me. Yeah. >> Yeah, >> for sure. Sometimes when I when I see in the footprint or order flow something for sure sometimes I go here short or sometimes here >> when you see something other conf another confirmation. >> Yeah. So oh so what is what do you consider confirmation in order flow then? If you see now I should show you that but there's some some things I look and um and then if you if you have there confirmation suck you can go shop. >> Yeah >> but mostly I'm this year I'm often traveling and I have no footprint no order for on the >> on the journeys. >> Well Patrick then some of these zones are smaller some of them are bigger. >> Yeah. >> Does that affect anything that you do over with your strategy? I like it if you have a huge movement and a small zone. >> Really? Why that? >> Because then you can if you if you go the macro go like this uh like goes up and you go here long, my goal would be here on the upside. >> Yeah. >> And my stop loss would be somewhere like here. >> Yeah. And when you have a risk risk reward from I don't know eight. >> Mhm. >> And if you have a zone like this and you go long here, where do you put your stop? >> Well, if >> pretty low. >> If nothing is in you put it on the I often put it on the low and then you have your riskreward. It's not even too >> Would you still take this this trade? >> No, I I would I would take the range. No, but you trade the R because it's a good range trade, right? It's still a good range trade. I mean, stop here, target the >> But the breakout trade, not so much. >> I wouldn't trade. >> So, that's interesting. So, then basically, you're saying these smaller ranges are much better for the breakout trades >> for me. Yeah. >> And the bigger ranges are better. >> And I love it. If you have perhaps here another range and and they are on the same same level, then it's really cool also for for range trading. >> Yeah. >> Oh, when two of these ranges are aligned basically. >> Yeah, that's perfect. >> What makes that special? >> It works better. [laughter] >> Good enough for me. So with the with one last thing here, why do you think the market makes this big move down forms a range and then if you break out again completely reclaims a big portion of what it took of of what was lost initially? >> Yeah. The markets that are the rules of the markets. >> Yeah. Yeah. >> Yeah. But I often move myself. When you have here something like this and you would I I'm not a drawer. I >> No, it's okay. You should see me. I'm terrible. >> So when you have something like this, it have your breakout in the upside and make something like this. Then for sure I would move my here. Perhaps another P. I would for sure take my stop to here. >> So I move up and up. >> So your stop would keep going under fair value. So you would have to let this range form first, right? And then once it's formed the P >> perhaps. Yeah. >> Stop underneath. >> There are several rules. I I I move my stockings >> and >> because then it's too much weight though. >> Yeah. So the P then of this right and for the audience the P is big move up range or big move down is the B into range for the P. When does it actually become a P? >> I love when it has the third confirmation. >> Yeah. >> Then then for me it's good. >> So three. >> Yeah. If here or here. One, two, three. somewhere here >> for sure it's much early uh P or B or D >> but I I wait very long because then it's the property probability is more uh bigger for the breakouts. >> I see >> it's but sometimes you are not in the markets if it goes up like here. Yeah. Do you waited too long? >> Yeah. >> Yeah. It's very hard to classify a range. Yeah, >> at the right time, you know. So now with uh the P here too, you know, sometimes you can get a move or a range that kind of forms, [laughter] wait till you see this uh that that forms kind of like this, right? It it the it keeps kind of making new highs and lows. So do you change your P here? Your your range high and range low because if we're in let's say three, you might draw it like this, right? Maybe up here. But then if we make >> sure there are some rules I I increase or increase my my zone. >> Yeah. >> But yeah, these rules are >> Yeah. >> secret. >> Secret. Okay. I won't ask too much. >> No, but but that's >> for sure. You must a little bit increase or >> make it smaller. >> Absolutely. I I don't want anyone coming after me for asking these questions. >> All fine. But also this when when it's too much then I I make a break. I make nothing. When I don't when it look it doesn't look good for me then I break make a break. >> I understand. Okay. >> But it's not so much trades. I work in the 15 minute ch minute chart and this is more than one day or one day >> to to have a real good pee you need a day. >> Yeah, a day. >> Wow. Half a day. Yeah. >> Wow. So, is there ever a time where you have a pee and but you won't trade the range in it? >> Yeah. In the evening when the pee is finished in the evening, I don't take it too. >> And why why is that? Because in the night it have no I don't see the markets. >> There can be so much things in the night. >> Mhm. >> In the day also but they are nearer in the market. And so when you have this at 2:00 4 when and you work two more hours you see if it goes back or upstairs. Um but if here you go to bed, you have 8 hours >> till you see the the market. That's too too long time. >> Now these you know you're primarily a swing trader, but range trades can sometimes go much quicker than >> Yeah. >> So you don't mind closing early on in the range model within the same hour within the same day >> sometimes? Yes. >> No. But the real nice setups, they often took two or three days. >> They often close much too too fast >> and then you see it in after some days you see, oh, it would be better if I waited three more days and then it goes to the go. >> Well, Patrick, then also, is there ever a time where you're in a range trade and you close the trade early? You don't wait for it to hit the target or hit the stop >> for sure. >> What? Why is that? There's often in the smaller time frame something there also in in perhaps in the one or five minute uh time frame or I sometimes I close because when Europe is in the morning and we make a huge a huge pee a huge peak and a soul and then you have 2:00 in the in the afternoon then the American wake up. >> They often test the low and then they go up and then I change some something my sometimes my logic. >> Is there a system to to this part or are you kind of taking the PD model here and just projecting it downward to the lower time frame? >> No, there's no system. >> For sure. It's good if you do it, but it's it's too much work from time. So where on what time frame are you looking at this then? >> I love the 15 minutes. >> 15 minutes. >> And when I go to the bigger time frame, I'd use the I I first use the 4 hours time frame to to for the big picture and then I go down to the 15 minutes and sometimes for sure for the execution I take the five minutes or the three minutes. But the the normal decision is the 15-minute chart from >> So then to be clear for these basically fair value to fair value these right here you would 15 minutes but for these entries you had over here >> each candle 15 minute shot >> really but for the five minutes you said sometimes for the execution right? Yeah, I take for the execution sometimes a lower time frame but the normal chart I look is the 15 minute. >> Yeah. So I'm curious right here with the breakout method might you look at this structure to form on the five minute >> sometimes. Yeah. Then >> I am looking but but the decision is even is most time the 15 minutes >> most time 15 and what but what makes you go down to the 5 minute >> the stops are slower uh is slower smaller >> yeah ah I see >> it's more precise >> in in what conditions do you want your stop to be smaller >> when the target is not so I see >> only because the risk risk version >> I see >> sometimes I say okay it's okay for me when I want to have 300 points >> then 40 point stop is 50 point stop is totally okay but when I only want to have 50 points it's too much >> I see and Patrick also then for the breakout method is there anything that makes you not take this breakout about when you see it. >> It's only the time. >> The time >> if you're really near before important news. Sure. >> Mhm. >> Or so so 2:00 in the afternoon. It's the the market often changes. >> And in oil in oil. >> So pretty much every time then this happens, right? pretty much almost every time except for when the market is late. You are taking this long this short. >> Yes. >> Really? Oh, >> for for sure. >> I love when I have a confirmation in market volume profile or in the footprint. That's the best things. But when I don't have anything, >> it works. So then could I say that you get your third point on each, right? Three points. Three points. And if you have three points and then this break up or this breakdown happens because three points for our P in V and then we get the break, that's almost always a trade. Ever thought about getting into prop trading? Perfect timing. Right now, we have the perfect offer for you. You can grab a futures challenge or crypto challenge for just 9 bucks. Links in the description below. Now, back to the video. >> Yeah. And I see it. Yeah. >> Yeah. And then also, >> sure there are differences. >> Yeah. >> But I prefer that. Yeah. H and then also um you need three points just to take the range trades too, right? >> Yes. But uh yeah, that's right. >> Is there anything else? >> It's better than your drawing is better than mine. >> Is there uh anything else that you look at then >> on the normal charts? Not know >> sure higher high lower low market structure you look at all things a little bit but the main thing is is this. >> Well then how about with the way fair value is created right because we can go up down up or you could just go up fair value up fair value up fair value. Do you look at the sequence at which these form? >> No. >> No. Really? >> See, sequence is >> the the order like in order like if you get three fair value ups in a row or if you get three down in a row or if you get one up, one down. >> For sure. Yeah. >> Yeah. And what do you do with that? >> Like how do you analyze that >> when you have three in a row? >> Mhm. >> I love to to have the thought. There's so much power. Then you wait that it goes goes lower. >> So on that fourth if we get four three values up what are you looking for on the >> but you don't have so much so so often three or four in one row. Most time it comes back one time. So it's not it doesn't change your trading too much then based on how where these form whether they keep going up or they're up down up down it this doesn't matter too much. >> No. Okay. But I for sure I love if if they go up when you have like like here two piece >> and it comes back to it goes really fast back to to the to the entry to the first to to the beginning of the movement for the for sure I love to to to go in a trade here. And I'm sorry, I think I I forgot, but for the breakout trade, it's clear where the stop goes. But let's say you're at the all-time high again and you take the breakout trade. Where were you looking for a target again? >> It depends. Sometimes I um I make this um the same like this. I put to here and have here my my target or I I I manage the the the the stop-loss >> and have no target. >> So you trail the stop loss >> but normally I I I always work with a takerit. >> Mhm. >> And then I double this into >> So in case there's not like a next fair value area to target. >> Yeah. You do your stop loss how you normally do and then calculate the RR. >> Yeah. >> The the reward risk and then place your target based on the reward risk you want. >> No, I take uh No, no, it's not risky, but I take the the move. >> Yeah. >> The initial move I take and copy this into. >> So it goes one to one. So this is one unit risk. That's one unit. >> Wait, we speak when I the I go here long >> the >> take perhaps my my stop loss here >> and my target I do I make this and copy this on the >> I see I see >> and then I manage my my trade really small. >> That's really interesting. How did you what made you do it like that? It's hard. It's only experience >> and you have really and that's often the point when when you have something like like that it you can put it. >> So that's that's pretty much the the model then right >> that's all. Yeah. >> And news and fundamentals more macros right don't they can just with discretion you look at them and say oh okay let's hold off there's not really like a system there. No, for me. >> Yeah. So, it's more experiencebased. So, for someone who wants to Whoop, sorry. For someone who wants to, how can someone who just listened to what we discussed, if they understood everything you just said, what would make them still fail to to do well with this strategy? Good question. I don't know. [laughter] But often they the stop management or the target or the >> that's so many things you can make wrong or the the drawing the the right zones >> for sure. There are some rules I I don't tell Yeah. tell you for free. >> Oh no. Well, I have some money if uh [laughter] if you like. >> Okay. Patrick, what is the number one thing that if a trader does not master, they cannot be profitable? >> Some some people when they uh they are nervous, they decrease their stop stop loss and every time the cost comes next to the stop loss, they increase it. So then it's impossible to >> so they keep moving their stop loss >> to not get and how did you master that and how did you figure out to just stick your stop loss where it is and never move it? >> It's one of my biggest rules to do that not it's it's a red flag. And how did you learn or what experience did you have that made you write that as a rule? I when I was uh five years ago I had my worst trade in my life and there I I didn't have I didn't take this rule and I make a uh I thought ah this time I make it otherwise and it was so bad this day it was I often tells you uh the it was my oil oil trade where during corona and I thought boy oil is so cheap it's it falls goes down from 60 to 40 to 20 to 15. And I thought, hey, why do I need a stop loss? It's nothing can happen >> because it's only $50. And then I I didn't put a stop loss and then it falls to 10 to 8 to 7 and then I make uh cancelled all but it it falls down till 42 minus 42 and then I like okay when when you when you increase your stop it's it's incredible you can't exist because the one day comes and all is other. So then Patrick when you place your stop-loss now is it based on price or market structure or the amount of money that you are willing to lose? Right. It's because market structure because experience because I yeah if if I make 100 points 70 points that after that I choose my position uh if I can take one or five contracts it's not because the amount sometimes I have a stop from 30 points sometimes from 200 points and then I decide how many contracts I take. So how much are you at the screen per day then? How many hours? >> In the past for sure 8 hours from tomorrow 8 to 4 about. But uh this year I'm so much traveling and have so much project I think 3 hours. >> But your trading hasn't been worse since you've been less on the screen. >> No, it gets better. No, this year is so perfect. Yeah. And I I work so so less. It's is it's a good time for me because the the swings are really good. >> So then this is what we said traders have to master in order to be profitable. Now I'm sure you get this question a lot, but what about becoming a world champion? What's the difference between profitable trader, world champion? >> The consistency. >> Yeah. >> Yeah. It's it's only you must do it once the second time. You must do it every day the same thing. And the most people they they are changing their rules, their fear and gear. Uh >> yeah. So how do you figure out then what a good strategy is? When I started trading, I was I went to trade the traders to to search, you know, and I I wanted to adopt all strategies because more more knowledge is more experience. It's more it's better performance I thought. But for me, I I saw it's when when I'm skyping, my heart gets faster and it's nothing for me. >> Yeah. For me, it's good if if I see the chart, I take a decision and then go away. That's the best for me. >> And but perhaps you you're a counter um you are fast man and you say I need it. I need the pressure. Every person is different. >> So do you think strategies go with personality? >> Sure. Yeah. This is it's one of the main things. So, you know, Patrick, there's a lot of personality types. Are there some that just won't work in trading? >> I think the most people can be traders when when they do the trading who is good for them, but uh if you're a gambler, it's almost impossible. That's the only thing you you can't get the trader. Are there any strategy types then that you think won't work in trading for example there's trend following mean reversion scalping do you think there's something there that >> no they they all are working but for me the counter trading is better because I feel good >> always when I take go with the trend it's I know it's more easy and it's better but for me I don't feel feel comfortable with So then with your counter trend, you'd say higher win rate or lower win rate. >> Higher win rate. A a little bit higher. Yeah. >> And with trend following, would you say it's the hardest type of trading? >> No, it's I think it's more easy. >> Yeah. But [laughter] >> for me, I am better in the to to do the other thing >> to to do the counter trend trading >> also if I know it's more easy to go with a trend. It's >> Yeah. And then you're only specifically using this counter trend trading in NASDAQ ES. >> No, my I'm mostly trade ducks and uh oil. >> Ducks and oil. Yeah, that's a little bit uh gold, but that's that's all in in my private accounts. Uh I also use the other futures, but only one trade a week, two weeks. There are not many setups I use. Do do you think you can take a good strategy on docs and oil and immediately start using it good on ESQ? >> Yes, it it it would work, but it's good if you test it sometimes because each market is his own own rules. the the main rules are the same, but DAX is faking much more than ES and so each market is a little bit different. So when I trade wheat or so, they it's it's possible, but they are a little bit different. >> So Patrick, you mentioned testing. Um, how do you go about testing a strategy and making sure, okay, I'm ready to risk money on a this strategy. >> I am really fast. I I tried it always with with own money because when I I trade with demo card or with you with prop trading accounts it's I don't feel I need the I need own money to test it. It's >> no. >> Yeah, sure. For the first first days, I try it on the charts and with the demo account, >> but when I see, oh, it's >> near the same, I I I start with with normal money. >> And is there any when you're testing, is there any specific number that you're looking at like draw down or profit factor in? >> No. as it ah for sure what I'm saying yeah I look when I'm trading I I want to to have a profit factor from two about and the win rate it doesn't matter so so so really because when when you have a risk reward from three or four then the the win rate is not so important >> and for example in weed I only take uh trades have um a risk reward bigger than four, three or four >> because there I have not u not so high win rate and so I wait till the signal comes with a a risk reward more than three or four or five but one once a month or once or every two months there's one trade and and then I taking >> So why does your strategy work so good on DAX and oil but maybe not as good on ES or NASDAQ. It's it's how can I say in oil and ducks I'm used to I I made it thousand times >> and in ES or NASDAQ I'm a newbie and then how to say it when you have the ducks and have a range he fakes more often 10 points and go back and when you make the same in ES you he fakes nothing or only one or two points and you then you have uh you have to change your rules a little bit. Not much but if you adopt the same rules on another market it's yeah it's hard. >> So you would say then you are a big discretionary trader. >> Yes. >> Absolutely. >> Absolutely. Yeah. So, a a big problem that a lot of discretionary traders have that aren't at your level, of course, is figuring out what strategy works and then having the confidence in that strategy to keep using it even when some losses come in, it has a bad stretch. How do you know when your discretionary strategy starts having some bad stretch to keep going because it will start working again? >> It's experience. I made thousand trades and I I don't know is the exact number but the the worst uh roll I had perhaps 15 trades after one after each other for 15 losses but in in the whole thousands of trades I don't had more than 15 trades in a row who are losing and when you know this it's okay >> but it's uh it's not Not a good feeling. [laughter] No, not normal. Nor normally I have perhaps four losses after each other and then I make a break. That's that's the tool when I when I'm trading today and well the first trade is a loss but the second trade is a loss, the third trade is a loss. Okay. Normally we have afternoon and then close all and go. >> Yeah. >> But it's okay for me. Sometimes you have a the wrong feeling for the market or you you are thinking to your wife or to to something else and then it's uh yeah it's better to to stop trading and the next day you begin from from new and uh yeah it's not so often that you have a row of 10 trades or 15 loes in the in the in the World Cup championship. I make um um in the end of the year the the win rate and and all and each each year I had a win rate from 60 to 75% and so it's it's now it's a long time and I see each year it's it's the same sometimes say 68 sometimes 74 72 and so why I should have fear then it must change totally and I hope it doesn't. >> Well, Patrick, I have to ask then, what would you do? Would you change your strategy if you did take 15 losses in a row? >> No. >> When I take I would stop for sure. So, I would stop and I would show look if if I traded on my rules the last 15 uh trades because sometimes you you don't trade like uh like you should because Oh, ah trumpet post. Hey, I take the long. >> Yeah. >> Yeah. >> Yeah. You must look if you if you trade it the right way or or did you or somebody say w today all is long a we must go long and you you think okay when he's saying long okay I take this trade but it's not it wasn't your rules but if you have 15 trades in a row I think I I would make holidays this it's only one time I had it >> so is there specific market environment where you prefer trading or your strategy works best. >> For me, it's perfect when we are uh we have a range. >> The slow markets are perfect for me. >> I have problems with the market. If if we have big trends >> like in Yeah. In oil when you have uh wars, it goes up and up and up. It doesn't stop. or in the ducks when you have a crash and it goes le let's take the the oil example when when oil moves more than 20% in two weeks and it's such a big trend then I have problems because I can't I think it couldn't be why should it what's different than last week why should the the why should it move more than 20% in two weeks yeah >> and then it's hard for me to to trade I stretched it because I think no it must go back it's it's too much. >> Yeah. >> And then I have three problems. Yeah. >> Well, so other than taking losing trades, is there any situation where you stop trading stop your strategy because you don't you're not comfortable or confident that you're going to be able to trade well? I stopped training oil in in March this year since after March or perhaps beginning April [snorts] I made no oil trade- because I was uh when the the war begins in Dubai or Iran uh I was here and had much losses and after that I can't feel the markets again because there are so many things I don't understand this. Yeah. One man says hey freedom no freedom po and and all is is hearing to him and so I stopped it's it's four months I think yeah four months I stopped trading my favorite uh asset oil that's it's only for to secure me because >> it's it's I would lose money if I I do that because >> I'm a swing trader and when you wait four days to to the target and [laughter] one hour before he gets to target the common message and you have your stop loss. It's crazy. It's >> Yeah. Patrick, thank you so much for showing me this. Um I feel the audience is going to get really good value from this. I do. >> Perfect. >> So I appreciate it. >> Yeah, I love it too. >> Yeah, absolutely. Patrick, thank you so much. >> Thanks. >> IQ Capital, you can start your first challenge for as little as $1. Terms and conditions apply. Check the link in the description below.