How to Build a Profitable Trading Strategy in 2024 | Step by Step

What is going on? Everyone? Welcome to the building your trading playbook webinar. So in this video, I want to focus on helping you guys build a trading playbook and help you guys understand what a playbook is, right? So over the next 40 minutes, these are the following things we are going to cover. I will be talking about what is a trading playbook. I'll be talking about building a trading playbook in Tradezilla. Example of my playbooks that helped me generate over $10 million in day trading profits. And ultimately the whole goal in simple terms is I want to offer you guys value that will allow you to reach consistency, allow you to reach profitability, right. In return, we, we are not looking for anything. We're not looking to sell you guys anything. At the end, there's no special offer, nothing. Just watch this video, just enjoy it. That's ultimately it. That's all we're looking for here. And if you guys found value, you know, give it a thumbs up and that is ultimately it, right? So with that being said, let's dive into this. We're going to have a lot of interesting things I want to break down. So, you know, bring out a pen, bring out a paper and just kind of lock in because I really want to narrow these topics down. Okay, now before we get started, I just want to give you guys a little break back background of who I am for people that are familiar with me and have been following me. Thank you so much. I appreciate your support for people that don't. Just a quick introduction. My name is Omar Ashraf. I started trading in 2013. It's been about 10 years now that I've been trading. I am the founder of Tradezilla and if you are a part of Tradezilla, once again, thank you so much for your constant support. And then here is my last three years of performance. 2020 made a little over $2 million. 2021, 70 and a half million and 2022, 1.4 million. If you follow me on Twitter, if you follow me on Instagram, I have my live videos logging into my thinkorswim brokerage account showcasing my profits. And the reason I'm sharing this is not to show, hey, look how much I made or whatever the case is. It's just to kind of give substance to everything I talk about, right? I've been trading for 10 years. I have a good track record, I have made money. So obviously the things that I am sharing have some sort of, you know, power behind them because it obviously has worked in the past for Me. So that's ultimately. And if you guys want, go on my Instagram, go on my Twitter, there's a link down below, you guys can go check live videos, everything, right? So I just wanted to get that out the way just to have your attention, to be like, hey, okay, this guy is talking about something that he has, you know, implemented and it has worked and we have proof for that, right? So with that being said, let's dive into it. So first and foremost, what is a trading playbook? So let's all take a pause for a second, right? And I want, I want you guys to think and I want you to ask, I want to ask you a serious question. First and foremost, if you, if you know what a trading playbook is, right? Or if even if you don't, like, who has heard of this term before, who has ever went into the market and approached the market from a, from, from a place where I need a playbook or I need an approach to the market on different market conditions or different setups or whatever the case is. Now, if you've never done that or if you've never had an approach to that, then you know, you're going to have a real, really difficult time being profitable as a trader, in my opinion. Now, if you do have a playbook and you do have well defined rules and things like that, you know, you do make it very easy for yourself to find consistency and profitability. So with that being said, let's first jump into what is a trading playbook. Let's break it down, let's, you know, dissect it and let's get a good understanding of it one by one. So a trading playbook is your approach to the market with predefined setups that have entry and exit rules. Example, I have something called a morning top reversal. I have an opening range drive. I have something called a second day play. So all of these setups, right, or all of these playbooks essentially have different criteria for me. So my morning top reversal may somewhat have a different criteria than you. Your opening range drives setup may have a different criteria than me. So the criteria and the names, like, we don't want to say, well, morning top reversal is a textbook play that has to happen. No, over time you start developing your own methods and, you know, ideologies and ways you look at the market, ways you take on trades and so on. But ultimately what we want to do and what we want to achieve by the end of this webinar is we want to achieve you guys understanding what a playbook is, and you guys building out a playbook, possibly on Tradezilla or even wherever it may be, and understanding my morning top reversal, right? So here is an example of a playbook, right? Just to kind of show you guys an example of a playbook. So if you go here, this is Tradezilla. We have, you know, I have a few setups, I mean, a few playbooks here. This is also something we just recently announced and released today. So if you are part of Tradezilla, you guys can go check it out. It should be available to you. And I want to walk you guys through my morning top reversal, what it is, how I'm tracking it, what I'm doing. So now, essentially, like I mentioned, every playbook has predefined rules, entry and exit rules. So we're going to go in my morning top reversal, and we're going to go over what the rules are, how we're creating the rules and things like that. So morning top reversal. These are some of my entry triggers. I'm looking at a weak move from the market, weak sentiment open, multiple rejects at supply zone. Just to give you some sort of context, right? So it's, it's, it's. I'm looking for weakness. I'm looking for weakness in the play, I'm looking for weakness in the market. Some of my exit trigger triggers, new high continuation, meaning I got stopped out, my profit is locked in. I have a 2.5 order in profit or something along the lines of that, depending on this trade setup and whatnot. In, in drawing terms, I'm going to draw it for you. It's going to be a little bit messy. And then I'm going to show you guys real examples of my morning top reversal. So if I was to draw this, I guess set up or, you know, trade out for you, ultimately, the first thing I'm looking for is I'm looking for a gap in the market, right? The gap can be a gap up or it can be a gap down. I ultimately want to see if the market close here the next day. I want to see a gap up or gap down, either or. Like, I'm good with either or. That's number one. Number two, if there is some sort of gap on the open, right around the open, I want the market to start trying to find a top right, whatever the case is. And I want to identify if there's weak sentiment or if there's weakness at that top, right? And I don't want to go into, well, you know, if you see a stock hit this Level two times, it means it's going to go down. Listen, that's not, that's not the way to trade, by the way, right? Those patterns and all that. No, we want to go into understanding order flow. We want to go into understanding the sentiment, we want to go into understanding the market context, want to go into understanding the, the actual money behind the moves, right? And we'll kind of talk about that in a bit. So in simple terms, once again, I am trying to find a stock or the market that is gapping up or down. And on the gap, if it does make a move up, which I essentially would like it to make, I want to be able to read that this is a weak move. And once it does stall in the first 15, 20, 30 minutes, I want to find that weakness and short that weakness. I want to play the downside. Now I'm going to show you examples of my morning top reversal playbook. And once I show you examples, I want you guys to see how similar some of the trades are, see how they have similar characteristics, see how they have similar open, similar action. And the reason I want you to pay attention to that is because once you're able to as a trader, once you're able to see trades happen consistently and you're able to maximize them, you start giving yourself a special edge. And that edge you give yourself allows you to execute at an extreme level. So I'll show you what I mean in a bit of. Right, so let's, let's go into, let's go into the first example. So here's my first example. So if we look here, right? And you know what, let me, let me actually open it up here too. We go to executed trades. I'll open up one of these trades in a bit. But this is, this is an example, right? So we get a stock that gaps up or down. So in this situation, stock gaps down, right? As it gaps down, it opens, it starts pushing down. I think this day wasn't really a gap gap day, but anyways, it starts making the move right on the open. We get the 383, 80 reject. So right on the open, what I'm doing is I'm paying attention to this action. I'm paying attention to spy. I'm looking at how the first couple of minutes are, you know, acting. So once I see the first couple of minutes, I see here, I am not able to read any sort of buying pressure, right? Order flow is very weak. Buyers are not aggressive. So once we start seeing, you know, move like this, it kind of it kind of gets me going where I'm like, okay, well, we're seeing no sort of buying pressure. Stock is still going down. You know, the buying pressure is in there. And then when it starts picking up now I'm like, okay, well did it find a bottom? Did it not find a bottom? What's going on now? Once we start coming to our opening level, which is what we did here, rejection, a key level now is where I start paying attention, right? Start paying attention to the order fly. Started paying attention to how aggressive the sell orders are. Are buyers coming at aggressively at market, Right. Is there liquidity there? I'm trying to find out the level of aggressiveness right here. Now there are times where I'm unable to read it. Also want to put that out there. There's times I'll be like, I don't know. I couldn't read that. I couldn't read the order flow there. I couldn't read the prints there. I couldn't see the aggressive side and buying or selling side at all. I have no idea. And I'll. I'll just kind of sit in my hands and that's happened plenty of times or sometimes I'll have a good read on the market. I'll be able to see the weakness. Right now in this situation, I was able to see the weakness. Rejection at key, key level, no follow through of buying. We kind of tipped this place, tip this area, and we just started fading right after. So once I saw that, I was like, okay, there's no follow through of aggressive buyers. There's rejection at key level right after. I was unable to find any sort of buying pressure alive here. So this just looks like it's most likely going to sell off now once I start looking at positions like this, you know, in this current predicament, I took a short, I entered with puts on spy 383 puts for 12, 19, 22, same day expiration. And once I got in, we start, you know, making a move down. As we start making a move down, this is now where I start looking to see because I also have to understand, right? So if we, we block all of this out, right? If we block all of this out, right. There's a lot of different scenarios that can and may possibly happen from a trading perspective. And we need to kind of keep that in mind. Some things that can happen is this can just stay flat here all day, right? It can hold trade sideways, it can maybe hold here, you know, and then, you know, maybe start moving up higher. I'm unsure that Those are things like there's no such thing as. I'm certain on this plate. I'm certain on there's weakness here. I'm certain on the gap down. I'm certain that there's no follow through of aggressive buyers at this moment when I entered. And I don't know what can happen after. I don't know if it can go from 383 to 370, 383 to 380. I don't know that I'm not even going to try to play that. Which is why when you have a set of rules, it makes things a lot easier for you, especially if it fit your rules. Now in terms of exit rule, I have two exit criteria that I really follow. I like to either sell on low of the day or on exhaustion sell off. So what is exhaustion sell off? Just as a side note, just to explain to you guys, cause I want you to understand this, right? So exhaustion sell off typically happens whenever a stock does start making a move and it does start, you know, going down or up, right? And you are able to sometimes read that a lot of, you know, stop loss orders got triggered, a lot of sell orders kicked in. And once that happens, and I'm pretty sure you guys have seen things where you'll see a stock make one candle move down with increased volume. Most of the time right after it starts reversing a little bit. Not saying it's going higher, but it starts like reversing a little bit. And before maybe it comes down or before it goes sideways, these are where like the exhaustion sell offs happen. This is like the last leg of the sell off or the last leg or the move of the sell off. This is where a lot of amateur traders are entering, right on the breakdowns or breakups or whatever it is.

A lot of institutions are flushing out there, right? They're hitting stops. Market makers are taking stops out. Stops get taken out, people get triggered. It makes a quick move down. Market maker step back in sometimes, you know, drive the price back up or start being buyers or you start seeing a new wave of buyers step in. So these are some of my exit rules. So in this situation, I got in, you know, we hit a low of the day, we broke this area. I got out. And then once we started kind of, you know, hanging out here, I was like, you know what, I'm done, I'm getting out. I'm not, I'm not taking, I'm not taking any more chances. Maybe we do go lower, maybe we don't. I'm okay, I'll take my chances. And that's it. So that's one example of a trade right now. Second example, let's go through trade number two. So here is trade number two. So this trade is really interesting, right? I remember this day and I want to, I want to walk you guys through this and I want to give you context. I want to give you context of the trade, I want to give you context of the pre market. I want to just give you a solid understanding of this day. So on December 1st we were anticipating economic data at 10am so key thing to keep in mind, right? For if you are watching, it's a very important thing. And if you have been watching me on Twitter, Instagram, whatever the case is. I've mentioned this in the past. At 10am Eastern time, most of the time we get a shift in sentiment in the market. Not exactly at 10am around that time, first 30 minute candle happens. A lot of institutions wait for the first 30 minute action to clear up. They also start taking positions then that's number one. Number two, around 10am we also get majority of the economic news and if not there's an economic calendar. Check the economic calendar, prepare for the week and you guys will see around 10am week there are some sort of economic events that happen some days. But besides that, for me personally at 10am I just avoid any sort of trades, if that makes sense. Right. So just wanted to give context for this day because if you do look at 10am here, you guys will see that like this huge indecisive candle move, right? So I took two trades this day. This was trade number one where you guys can see I lost money, right? Let's, let's, let's go through I guess both trades. Let's go right here. Let me move that. This is a trade, right? Lost about 17 grand on this trade. 33% 1.1 R. Let's go through this trade and let's get an understanding of what happened. Okay, So a few things happened wrong. Number one, let's go through my morning top reversal of what I was trading. So we got the gap up, right? The gap up happened rejection and key level side. I, I read a rejection here from you know, even when I went back to it there was rejection. And like I mentioned before guys, very important thing. I want you guys to pay attention to this very important. We as traders cannot predict where a stock will go. So my focus point is I can't predict that. If I see weakness here, that automatically guarantees we're going to Go to four or six. All I can do based on my setups and my criteria, depending on what trade I take. All I can do is, hey, I see weakness here. Because I see weakness here. There is a high probability that this stock or this instrument may go lower. Do you guys understand that? I want you to really think about that for a second. Once again, if I take a trade, right, if there is a trade, whatever the case is, and the trade showcases weakness or strength, it does not mean that the trade will go down all the way to a crazy target. Let's all establish that and be on the same page. So in this situation, I. There was rejection at key level. 409 for me was a key zone, right? There was no follow through of aggressive buyers. I wasn't able to read that here. So I was like, you know what? Let me get in. I go in and I short right here with the idea that, hey, we're gonna start pushing down now. A few mistakes I made. I don't like shorting in the low of the day. My short should have been a little bit earlier if I wanted to kind of price myself, right, maybe a little bit early. Now, second thing, once we kind of held this area, I did see some buying pressure hold. I did see buyers hold this. We kind of made a new low of the day, and then buyer stepped in. So a lot of times, if you make a new low of the day and buyer step in, what I do usually in, you know, this setup or in general is I like to scale up, scale out, or, you know, go a little bit cash. I didn't do that. I was like, you know what? Let me just hold through it, okay? And look, holding through it, holding through it, holding through it. Obviously, my stop loss was above 4 or 9. I also kind of didn't follow my stop loss entirely. And you guys can see my running piano, how this kind of moved second by second, right? And even if we look at the option contracts, right? So here on trades, all we have option contracts too. You guys can see the object. Concerts went from like a dollar 27 all the way down to 79 cents to even, what, 72 cents. So the option contracts, right, really, really got, you know, destroyed here. So even if you look at this, they ultimately got destroyed so much. And, you know, this. These are. These are. These are good things to just kind of see how your option contract fluctuated. And when we look at my running p. L, you know, look how quickly I'm down 10,000. I'm down 10,000 to 15,000 to 20,000 at one point close the trade, you know, roughly about $17,000. And look at this trade overall, right? 33% was willing to, was willing to put a stop in, you know, 90 cents, willing to lose 14,000, but ended up losing 17, way more than anticipated. However, going back to the setup, which is what I want to focus on, you guys can see we start fading of I get stopped out. I said, okay, call it a day. In this trade for this moment, my morning top reversal, you know, that I anticipated didn't work. Market was anchoring off this 10am news, waiting for the news to make a move. So a lot of times if that market is anchoring off some sort of news, and you know, my thing is to not be aggressive with size here. Obviously I was aggressive with size here. 33% on the trade, not great. Anyways, 10am happens. Now when 10am happens, we go to my second trade right here. Boom. This is the second trade. So this is something I really want to talk about now. So first trade, lose 17k 33%. Second trade. Now, second trade is where it got interesting. So this, this fits into a few different categories of setups. That, that's something I want to put in, right? So this trade, you know, made a hundred percent, same day expiration, guys risked about 22,000-made about 3.5 R on the trade, right? So R wise, you know, the, the trade I, I personally feel like was great, right? But I want to go through, I want to go through this, this trade really quick. I'm gonna, I'm gonna walk you guys through it, right? I want to give you like an idea of everything. So actually, let me just go here. So as I mentioned and, and I'm showing you different examples of it, just so you understand. So this in my playbook comes off as two different setups, right? And we'll go more into that in the next webinar. But this comes into two, right? This can be the continuation of the morning top sell off, right? Or it comes out to me sometimes a continuation sell off based on an event based on news driven play, right? Both setups kind of align here. Now what this kind of did, the reason I took this trade, so because the first trade didn't work out, right? And I was trying to play the short and I wanted to short right here. This is what I wanted to short. Now, number one, I didn't short there because we were having the 10am news. And I don't want to be caught up in a move at 10am Hence, why? Like at the moment I put late entry, but then when I go back to it, I'm like, was it really a late entry? Was that a smart move? Maybe from a technical point, but when I add up everything that was happening in the market, it doesn't really essentially make sense, right? So I was like, it's okay, it's not really a late entry in a way. But anyways, once the news comes out, we start moving down and we start coming back into this zone. So maybe this, this also goes into like my supply zone. Supply and demand zone plays. There is no level of aggressive buying. The bids are not really there. The ask is stacking up. We're seeing a lot of sell orders kick in, start hitting some of them, start hitting, you know, market right here. And I start seeing weakness. And I'm like, okay, well we got the rejection. I thought we had a rejection. We anchored towards the 10am so once again we start seeing this area. I get into the area, I think we already kind of exhausted ourselves here. I think this move is already exhausted. We're hitting the supply zone really, really hard. So I'm making an assumption that hey, if we are able to get back above 409, the area we broke out before, I'll stop out. If not, I think we have some room to kind of make a little move towards the downside. I enter, I enter in here. Same exact thing. You know, we had the gap update around the open rejection and key level. This is that 409 is my key level. We're on, unable to hold this area. In my opinion, no follow through of aggressive buyers are here. And then as we start going, I start exiting low of the day exhaustion, sell off. I don't want to try to catch this exact bottom. I just want a piece. I took the piece. This piece worked out being 77 grand and over 100. And guys, if for people that trade options, you guys understand same options, extremely risky. So obviously be careful, understand that, you know, there's a lot of risk involved. But if you are able to get into good plays, the reward is there too. But if you are a newbie, if you are just getting into things, avoid, you know, futures options, things like that, go more into stocks, just, just side note, you know, approach.

Next. Here's another example. So once again I want to give you guys a few examples and just kind of, you know, explain this. So and if you guys look, see, I, I tag all my, I like to tag all my trades. I'll give you an idea, right? So just to show you how to do it here for people that are using Tradezilla. So here we're going to go into this trade, right? So typically what I do is I go to playbooks, right? I'll select this playbook. So in this situation, morning, top reversal, right? And then I'll start selecting which one of my rules that I can create happened. And I'll show you guys where you can create the rules. You know, hey, gap up happened. You know, maybe gap of, gap down happened, right? Whatever. Which whenever I want to do. And it allowed me to just kind of, kind of monitor my setup and what happened, what didn't happen, right? That's ultimately what I use this for. So we gap down, right? As we gap down, we start making a move up. As we start making a move up, we start rejecting at this key level. As we start rejecting at this key level, no follow through, regressive buyers rejection and key level. I'm looking at it in terms of we're seeing some weakness, we're seeing some rejection. Now look at this, right? When I start looking at that, looking at it from that perspective, look what happens. Makes a quick move up, right? And right here, I start getting a little bit hesitant. So this is where, you know, stupid mistakes start happening. This is where we as traders have like, you know, you know, just, just bad execution. Like, that's ultimately it. Like there's just, there's just terrible execution. And I always say there's, there's a level of, you know, if I go here, sold early, I can go into, you know, scared if I want to add something. I was a little bit scared. That also kind of kicked in. We moved up. I was like, oh, I'm scared. I don't know. And even though right here I read that and I'm showing you this because I can go back to this play, this trade. And even though it's a red trade, I can go, well, the play was there, so this was a red trade. Not because the play wasn't there. This was a red trade. Because I had terrible execution, I didn't follow my plan. I exited too early. I got scared, right? So there's a big difference of trades like this. So this trade, I didn't get scared. I took the morning top reversal. It hit my stop. Maybe I could have. I didn't hit my stop exactly, but it's okay. It was kind of, you know, I was risking the 14, 15 grand. It hit the risk limit. I take the, I take the loss, I move on. This is where it's like, okay, well you, you hit the trade, you were in the position, you got unsure to, you took a loss and you exited. Now once again the losses and it was a 17% loss, wasn't in super heavy. So that was one thing I kind of essentially would like to say I got lucky. Lucky at. Right. But you know, besides that, it's just this whole trade was, was kind of a mess. I was just, I was just a mess getting in and out. And then right after you guys can see goes fades up 950, it makes a new low of the day. And just looking at the option contracts, right, because that, that, that's something for, if you are an option trader, one cool thing is just, just going here and just understanding, hey, where did the option contracts go to? You know, did it really make, make a big move up, big move down? So when you start looking at option contracts, they went from a $10 to about a $50 to a $58. Look at the bottom a dollar. So you still look at a 40, 50% move up same day expiration. This is like a 40, 50% move. Even if you catch 20, 30% of that pretty solid, right? And lost 17%. So you had a solid two hour trade there, in my opinion. But I'm showing you the guys this because there are similar entry rules. The rules were there, but I hesitated and I kind of messed up on the trade. And I share that because now when I go through these patterns or setups or whatever you want to call them or my playbook for the morning top reversal, I, I start seeing these action, actionable items happen over and over and over again. And when I see them happen over and over and over again, I, I now get a great understanding of what works, what doesn't work, what to pay attention to, what not to pay attention. So let's all take a step back for a second, right? Let's say like see this 10am thing I spoke about? Now imagine you focus on paying attention to your setups. You tag all your setups. You put a setup to it, you put it into your playbook. You select the rules that happen that didn't happen. Imagine you do this for a month, you to two months straight. Imagine what will happen. Imagine how much more aware you will be of the market, how much more aware you will be of setups and plays and things like that. How confident and comfortable you will be when a trade presents itself, right? So that's a big, big thing. Now.

Before we go on, right, so those are some three examples I want to talk about. Right. I have more examples now. I want to go into the playbook feature, right? And guys, you guys can build your playbook on anything, whatever you want. The idea of this for me personally was to have one place for me where I can build playbooks. I can share my playbooks. So eventually, you know, if this opening drive play, if I want to go to, let's say my morning top reversal, I can go here, I can share my morning top reversal. If I have your email, I can just put it in right there and say, here you go, I can allow you guys to duplicate it. And that's something I, I would like to do. I'm still working on my playbooks just because we released this feature recently. I'm going to add more of my past trades, I'm going to add more of my missed trades and you know, just to share with you guys and you guys can hopefully see my trades and things like that. But now I want to walk you guys through, you know, the whole morning top reversal play I have and just give you an overview. So first thing I like to do is I like to have playbook rules. These are some of my entry rules. I need to see a gap on the morning top reversal. It needs to give me a rejection at a key level. I need to have no follow through of aggressive buys. I need to be able to read that. If I can't read that, do not check it off. And once again, this will start adjusting for you as time goes on. What are my exit rules? If it hits the low of the day, obviously I'm in profit. I need to see if I hit that exhaustion sell off. Sometimes it may not hit low of the day, it might just get an exhaustion sell off. I might sell on that. Sometimes I might have a bad exit. Sometimes I might have my stop loss hit. I want to start tracking these. I want to start seeing, you know, did my stop loss get hit or not? Whatever the case is, if I go to execute a trade, I have all of the trades that were executed. So these are just trades that I've, I've logged, right? So if I go into, let's say my trade log and I do look at a particular trade, which I'll show you guys in a second, I can see all the trades that have went into my morning top reversal. So hypothetically, let's just say I go into this trade, right? I can go into this trade, I can go to playbooks, I can select the playbook, I can create a playbook, whatever setup, like, let's just say I don't have a setup. I can also say, hey, I didn't have a setup. I was just being degenerate, essentially, right? So the idea here is to kind of tag that playbook and you can start building off it right now. When I start looking at these now, I can see all my executed trades, right? I can see all of these single trades. Now. Another cool thing we added is we added something called missed trades. We might maybe change the name just because we don't want people to have fomo. But I'm going to explain the idea of this. So see how I spoke about these morning top reversals. So, interestingly, two days ago, we had the setup in the market. Look at this. So let's look at this. Let's look at this and just kind of observe this. So this is a trade that I did not take. This happened this Tuesday, right? Today's Thursday. So two days ago, this happened. What happened two days ago? Market gap down. It tried to open. It hit an opening level, one of my key levels. Once it was got to my key level, we started seeing weakness. And right from there, we started fading. We started selling off. I was looking at this. I didn't execute. I was a little bit hesitant. I wasn't able to kind of, you know, get into the flow. But this was my perfect, perfect, perfect play. This is my perfect play. Perfect morning top reversal fit into the criteria exactly how I wanted it, right? So now the cool thing that we have here is you can essentially create a missed trade. You can put the symbol, you can create the execution, and then you can track the execution. So in this situation, we have the execution right here, we have the miss trade. You know, it'll pop up as miss trade. And you can see it. You can see where you would have gotten in, where you would have gotten out, how the trade would have looked. I put in 100 shares just to see the entry and exit rule. And I can always come back to this, and I can replay this action. So if I hit this replay button, the cool thing is I can see the action for that day, for the missed trade, second by second. And I can see, okay, well, my entry time would have been 9:46. I click it right. When I click 9:46, it starts showing me, oh, I would have shorted there. And once again, this is not to create fomo. It's just to build that play playbook, you know, because if you do go back in, in history and you do see, you know, 10, 20 trades that fit a certain criteria, criteria, you can now go, and you can start practicing. You can start seeing the action. You can start seeing how the price formulates. You can start seeing, okay, it hits low of the day. It starts holding the low of the day. How's the tape printing? How's the level two printing? Okay, it starts showing a continuation. All right, am I getting comfortable here? All right, once I start seeing the hold, do I sell there? How do I respond? Right? So that's another great thing about this, because now if you do have, you know, mistrades entered, right? Just like how, you know, we're putting in mistrades here. If you do have mistrades entered, the idea is now you can go back to these trades and you can see how would have these trades looked? Would they have looked a certain. Like, what happened with this mistrade, right? And that ultimately, in my opinion, allows us traders to really build a playbook, even from trades that, you know, essentially were missed. So, hey, morning. Top reversal was missed. Now, the second cool thing, if you guys want to have notes, you guys can also have notes here. What is the idea and key components behind a. Behind an example of this trade? So I'll kind of, you know, work this out. We need to see a gap up or down.

Once the market gaps up, I'm just gonna put gaps, right? We need to see weakness on open to, not not. Don't be biased, right? Because this is another thing, right? If you're too biased on some of your setups, you'll start looking for them, right? When you go in, you'll start looking for these setups. So don't be biased. Don't say, well, this is what I need to see go in, you see a gap up, gap down, right? Right. When you see that, aim to watch the strength of the play. Are we seeing buying pressure kick in? Are we seeing selling pressure kick in? What pressure are we seeing kick in, right? Which, like what's happening? And from there, identify the strength.

Right? Play the move.

Right. If you can't.

Read the move, sit out. Simple. So you can add multiple notes here if you guys want, you can add missed trades. You can add, you know, all. You can see all you executed trades. Now, this is a cool part. You can go. Once you start tagging your trades, once you start applying that, applying them to your playbookings, there's a lot of interesting stats we have. You can see a net P and L. So I have four. Four trades so far that I've tagged in my morning top reversal. My win rate is 50. This is my profit factor. I have one missed trade entered. You know, obviously if I want to add more, I can. My missed trades, by the way, do not get calculated into this. What's my expectancy of this setup? I'm expecting to make 21k. Rules followed, percentage of rules followed, average winner. My average winner of this, you know, so far, four isn't a big number. Obviously this starts adjusting. Once I have like 30, 40 trades, 50, 52k average losers, 8,900. Largest profit, largest loss. And what is my R multiple on these trades? Right. So it just kind of gives you perspective on what is actually happening in terms of performance with your setup. Right now we're going to walk through building a new playbook. So if you guys, you know, if you guys are going to your playbook section right now, just go to create playbook and we're going to start creating the same playbook here. Here, right? What I have with my morning top reversal, we're going to basically create that. So you come here. Morning top reversal. I'm just going to put copy just because I have it in my thing. If you want to add an icon, you can add an icon. If you want to add a color, you can add a color, right? Let's just say I want to add an icon, I want to add emoji. You want to be. Well, you know, you can do that or you can even not add anything. If you don't want to add it, you don't to have have to. That's up to you. If you want to add a color, you can add a color. It's just I guess to, to add some animation right now once you come here, you can create a group. So once again, some traders are going to be more creative with this. They'll be a little bit more different. So create a new group. What is your group? Let's say entry rule. What are my entry rules now? I can create a new rule. Now this is interesting too. So if I go to my entry rules, right? So you see I have gap up, gap down, rejection, no follow through, right? So I can go gap up. When do I want to see this rule? Always. Some people may only want to see the rule when the trade is a winner. Some may want to see only when it's the loser. Some may want to see when it's a break even trade. So gap up, right? Or did it gap down? You can break it up or you can just put gap, right? Then you can go into rejection and key level. It needs to have rejection at key level, right? Then we go into no follow through of aggressive buyers. No follow through of aggressive buyers. Always great. I can move it up, down, whatever I want. Let's say I want to create a new group, exit rules, right? If I go to exit rules now, I can start putting this down. Let's say bad. Let's just say stop, loss, hit. Now if I put stop, loss hit, maybe I want to only see this when the trade is a loser. I might go, hey, I have a stop, loss hit. So if I have a stop, loss hit, what is this going to ultimately show me? So stop, loss, hit. So whenever this trade is a loser, or if this trade is a loser, my stop loss will start hitting. So I go here. Boom. Now I have this going and I ultimately create my playbook. My playbook is now here. I can also go in different formats. You guys can see morning top reversal here. Morning top reversal copy here. If I go here, I can also pick what I want to see here. I can remove some of the things I can say, take out average winner, average loser, take them out to see what I have. If I do share my playbook, it'll show me who I shared it with. So for example, if I share with another tradezilla user, which once again want to share these playbooks with you guys. So if I go here and I, let's say add my other email, right? 28gmail.com Allow duplicate. What this allows traders to do is if I allow duplicate, you guys can duplicate my playbook. See my rules, see my notes, see the all my missed trades and my trades that I did take go into your missed trades now, right? Send, invite, invite sent. Now you should see it in your shared playbook. So if you come to shared playbook, you should see Umar's playbook. You should see a notification should pop up and you should be able to, you know, see that. So that's, that's one component. Now the second thing of the playbook is every time you guys do take a trade, any trade you guys do take, the idea is to tag every single playbook. So if I go here and let's just say this was a trade, right? What was the setup here? I have no setup. This was actually no setup trade, right? I, I and I tell people if you have a trade with no setup, put no setup, you need to let yourself know this is another trade. Midday reversal, sell off. I don't have any rules. Once again, I'm building my playbook out right now. But go in and set, set your rules. Make sure you, you have rules. So that's ultimately the key thing about, you know, the Playbook. Now I just want to go over a few more things, right? So before we end.

First and foremost, just once again, if you guys made it till now, thank you so much just for, you know, listening, tuning in, paying attention. I appreciate that itself, right? And that's why, like, I want to offer more value. So if this was valuable, you know, you guys can let me know in the comment section now. And we will plan to do another webinar this weekend.

Right. And, and, and set something up. But let me know if it was valuable. If you guys want, I guess, more content around this, I want to walk you through more of my, I guess, setups. I also want to share my playbook. So I'm building out my playbooks now. Not that like I built them, but I'm building them out in Tradezilla now because the feature is recently just, just came out. And I plan to share my playbook with all of you. You, you guys. So if you guys are on Tradezilla, you know, by Monday, Tuesday, next week, you guys should have my playbooks in your Tradezilla as well. You guys should see some of my past trades and you guys can, you know, obviously learn from it. So far this year, I haven't been trading a lot. I don't really have much trades, but last year did very, very well. So most of those trades will be going into the playbooks. A lot of my missed trades, a lot of my criterias, they will be shared with you guys as well. So just to wrap it up, right, just to take a step back, what are a few things that we, we kind of learned? What are the few things that we, we've kind of taken away from here? Number one, if we want to be a consistently profitable trader, we need to have a playbook. We need to have well defined rules. If we have well defined rules, those well defined rules will allow us to really accelerate our trading. Number two, you need to track and monitor all your trades. You need to track your trades in terms of tagging it with the playbook. I checking off the checklist of, of each criteria in the playbook. Go back to trades that did happen that you maybe didn't take. Add them to your playbook. When you do add them to your playbook, go back sometimes and say, you know what, I took this certain trade. I want to go replay the action. Which is why this replay feature is extremely valuable. Hey, I want to replay this action. Let me go replay what happened this day. Just hit the replay button, go back, see the action second by second and just get a quick glimpse of how the price action, you know, formulated that day. Even on miss trades, even trades that you add as missed trades, guys, just create a missed trade, add the time, add the exit, add all that stuff. You can replay those two and just learn, just get a good idea. You can go to whatever time you want. You can fast forward it, slow it down, whatever you want. You can see your entries, exits, whatever, just to get a great idea within, you know, tradezilla and so on. And, and just third, if you guys really.

Take trading from a way where you, you know, focus on really trying to grasp everything that comes through trading, learning as much as you can, processing, journaling, having a good understanding, you will be able to get to a point of extreme profitability. If not, you will have a very, very difficult time, in my opinion. So, yeah, with that being said, if you guys have any questions, just comment down below. Let me know, me know whatever questions you guys have. What other things do you want me to cover? Once again, we want to offer as much as valuable, you know, content for the trading space as much as possible. And, you know, we want you guys to start journaling, be it with Tradezilla, be it you guys journal in Excel, be it your hand, journal, whatever. We want you to journal and we want to make your journal experience, journaling experience the best journaling experience that we can. And we want to help traders, especially retail traders, become profitable. With that being said, thank you so much for your time. Thank you so much for joining and I hope you guys found tons and tons of value out of this video.