8: The “Why’s” That Tell the Story of the Market (incl. Supply & Demand Trading Tips) w/ Gil Ben-Hur

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Gil Ben-Hur pursued advertising, marketing, and film-making after graduating college. He tried to make money using the things he’d learned from school but found it hard going.

Because of these early frustrations, Gil looked for something else that would earn him a living. He started learning how to invest and the basics to Forex trading. It wasn’t long until he discovered Supply and Demand Theory and met the mentor (and founder of Read The Markets) that helped him change the course of his entire life.

Gil has been trading for about 15 years and while he loved trading, he also had a passion for teaching others how to trade so spent a few years doing helping grow traders.

These days Gil has taken things a step further and is helping traders in another way – his primary focus is now on his own business The5%ers, a funding prop firm with a unique offering for Forex traders.

I urge you to check it out after the interview as it’s a nice way to lower your risk and accentuate the upside.

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Podcast Interview

Interview Links

Gil@The5ers.com – mention Trading Nut, Gil promised special treatment for my listeners 😉
The5ers.com

Recommended Books

Trade Mindfully by Gary Dayton

Broker and Platform

MetaTrader 4

Gil’s Strategy of the Week

Check out the 4 part video series Gil referred to in the show which walks you through Supply & Demand trading alongside Order Flow.

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Key Lessons

• [08:27] Everything can be explained if you boil everything into the supply and demand order flow theory.
• [13:02] When you approach the charts you should not look for patterns, shapes, and all kinds of arbitrary formations in the charts. What you trying to do is to just step back and try to read from the charts, a story.
• [15:49] Reading the markets as we do is never unclear we always know what’s going on. We can always tell the story of what’s going on in the market.
• [18:27] When my wife enters the room where I’m working and saw me doing nothing, for her it’s me doing nothing, for me, I’m sniping for the right moment to enter and sometimes I have to wait and this waiting time, this huge patience is the actual work.
• [18:58] Sometimes trading can be a lot of waiting and sitting. In your mental state of mind, you have to figure out how not to get bored.
• [22:11] Knowing the pros and cons of doing these shortcuts is what’s giving me the patience to wait and also holding on to the possible frustration of not taking high accurate trades.
• [22:43] You really have to sometimes let off good trades that you might have taken because it would ruin your discipline
  [19:46] The ones that have the biggest success are the ones that are the calmest, discipline, and I call it “Zen” personality.
• [24:55] These people with less ego are the ones that make the most success in trading.
• [25:44] You should know the pros and cons of your trading strategy and you have to create a set of mental tools that’ll help you overcome all the obstacles and the blind spots that are involved in your trading strategy.
• [46:41] You have to know how to get into these trades and just wait for hours sometimes to get into your target.
• [46:56] The target is not the amount of time I would be on the trade, it’s how many pips would I take in that trade.
• [51:28] Losses are an inevitable part of trading.
• [51:56] Losses, if they are in the plan, should be embraced and you should be happy taking them.
• [52:16] If you consider a pre-planned risk as a loss, you’re actually harming yourself.
• [52:52] There’ll never be one scenario to the market as you expect it. Don’t try to predict what the market would do, try to be attentive to what the market is doing and react upon this.
• [53:55] Most of us are small players, we have no way to affect the market. The only thing that we can do is we can ride the market to where ever it takes us.
• [55:08] It’s a risk management game and if you’re not willing to take the risks if you’re avoiding taking the risks, and if you’re denying that your trade is going the wrong way against you, you’d be in trouble very soon.
• [56:15] If you were doing the right thing, you should be happy about taking that loss.
• [57:27] At this moment, Cryptocurrency cannot be an investment tool. It has too much volatility, it’s not clear yet where it’s really going.
• [63:55] The market is not random, every change in price has a reason.
• [65:38] There are real participants in the market – hedge funds, economics, commerce. Everything is built into this chart of yours. Real things are happening there, you have to figure out what’s going on there.
• [69:59] If you embrace a very good risk management that is suited to your personality and targets in life, this is where you get successful.
• [77:33] You have to be aware that a reaction will happen because of order flow imbalance in key levels.
• [90:42] You must remember that trading is not gambling. You should not take your trading into gambling. Don’t try to predict, don’t be fixated on your bias on the market, try to be more focused on what the market shows you and play on that.

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Gil’s Trading

• He trades Forex
• He trades from his home office
• He formed a business called The5%ers – a prop trading firm for Forex Traders wanting to reduce risk and maximize upside potential
• He trades in a very short term but relies on longer time frame analysis
• His trades only last for a minute to few hours
• He has an average of 50 trades in a week
• He has 40% to 50% winning rate
• It took him 4 years to become a profitable trader
• He doesn’t predict the market, he always does assessments for his upcoming trades
• He already has his entry and targets before he enters a trade
• He writes at least four scenarios in between his trades and gives definite action plan for each
• He manages all his risks all the time
• He uses the Quasimodo signals for his entry setup

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