This is a perfect example of how it doesn't really matter for your strategy to be over complicated to work!!.Well done buddy really enjoyed your interview Really loveable character!!
5k+ hours watching candles develop and it becomes easy regardless of strategy. Hardest part is mastering the mental game and avoiding prop scams/getting paid.
what does he mean with 'boom' when he talks about the upper trend line that he draws. Does he mean the last moment when price went outside the upper line of the bollinger band? Or does he mean the most recent moment when price touched the upper line of the bollinger band? and the retracement, does he mean when price reached the middle line of the bollinger bands?
Great interview but like many other commenters, I fail to understand what Mr. Chiat was saying. I understand about the 30 minute and the lines but at the 5 minute it's not clear what he said. Check the comments, I am not the only one...
In fact xauusd pips are like 200 points equally to 10pips on others currencies like Eurusd. 7pips on Gbpusd is equivalent to 140points on gold Just for clarification Not exactly, but good approximation like gravity =10
So many people misunderstand pips vs points. Also, some brokers use them interchangeably. As long as we know our own risk management/ lot size, it matters very little what someone calls it.
Congratulations Choon Chiat, it is by far the nicest strategy, actully while analyzing i have seen such cases, but didnt really give it a shot, will probably try your strategy. Good Job
Do you understand his strategy?.. I’m a bit puzzled… so he waits for a trend to happen and pass on the 30 min chart and draws two lines where the recent price touched the low and the high. Then he goes on 5 minutes but I don’t understand what trades he actually takes.
@@wrestleciz6345 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 : Bollinger Band and RSI 𝗠𝗮𝗿𝗸𝗲𝘁 : Ranging Market 𝗜𝗻𝘀𝘁𝗿𝘂𝗺𝗲𝗻𝘁 : Gold 𝗧𝗶𝗺𝗲𝗳𝗿𝗮𝗺𝗲 : 30m for the Bias , 5m for the entry 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 : Bollinger Band Mean Reversion / Bollinger Band Bounce - price touches the upper or lower BB and returns to the moving average in the middle , RSI extremes for added confirmation for entry 𝗥𝗶𝘀𝗸 : position sizing 2% per trade , USD 2000 for the account size : USD100000 , minimum 1:1 RR ,20 pips stop loss, 20 pips take profit / the strategy is high risk but because of the big lot size i.e.10 lot per trade , he can make money with a small 20pip-price-movement that occurs frequently in a very volatile instrument like Gold But he might practise the strategy long enough to confidently trade and gain profits consistently i.e his secret sauce Kudos to his patience and discipline. Analogy : Bruce Lee's 10000 kicks quote :) Sometimes a simple strategy like that is enough to make consistent profits in trading. We don't need some fancy strategies or complicated concepts. It works . He is the proof.
While the price is fluctuating between the support and resistance, there's plenty of cash to be made on the 5 m or 1 m but it's stressful. I also find it a challenge to set proper SL. Otherwise good approach. Any chance to get your details Mr. Choon Chiat? Cheers.
@@paulcharles3484 yes there can be a lot of money to be made during that period where the price ranges and goes up and down, but you have no idea when it will suddenly trend again so it’s just a gamble.
As a 5 year experienced trader, i don't beleive this, cause this is fake, even this is not a strategy. and this is not serious at alll. trading is a serious business.
I just took 1 year and 5month for my "aha" Moment. I just have to follow my trading rules now. xD . However, the cost was too great hahaha. Was isolating myself for too long.
Well, do you think he will disclose all his trade secrets in a public interview? A good trader has multiple trading strategies and maybe this is just 1 from 30 good strategies.
im completely lost. Is he purposely not giving any of the key information away? no way he is profitable trading like this. I went and back tested this basic range trading approach and lost 4/5 trades haha
Um, maybe some kind soul can help me: What doe dhe mean by boom? I feel like dunce but I absolutely do not understand what he meant by that even when I look at where he drew the lines on the chart...
I'm not a pro, but I'm guessing those are his support and resistance guides. the support is made up of recent low points and the resistance set on recent highs.
Having monitored my portfolio performance, a has made me a jaw dropping $370k from just the past two quarters alone. I have learned why these experienced traders make enormous returns from the seemingly unknown market
These are support levels, support levels can tell You A LOT, also, there are patterns in which markets sometimes, not always, but sometimes, move. These lines can help track the movement. And You want to draw them at the highest high level and the lowest low. For the best results 2 on the day before, and 2 on the day You trade.
hi bro, after MFF I've been so skeptical. How is our experience with FTMO so far? I want to sign up but I am afraid they might disappear too. I had a 14.3k payout on the exact day MFF disappeared. It was to be my first payout from from that account
@@aviansnow hey man, sad to know this happened. As long as greed is still there, many unfortunate events regrettably might happen. You may start with free trials from FTMO first. I don't have data to comment on FTMO's reliability, it's best that they prove themselves sustainable for long-term.
So basically wait for crab market after 'big boom', draw 2 lines, entry (10 -30 lots) when it hits 1 of the lines, tp sl 1:1. When it works, great. When it doesn't, take a rest and play dota 2, trade tomorrow. Got it, ooga booga strat works
Am i the only one seing break of structure and retracement back to the structure? Like for real, i see like 4 trades profitable with a 1:1 1:2 RR minute 12:18 chart 😢😢😢
Pity that he is not clearer as to the strategy! Clearly it is working for him but the explanation was full of "holes" and statements which I could not understand! Well done anyway on your success.
Hello @tuhairweronnie7385, cTrader is only available for the FTMO Challenge. If you have any problems, please contact support: support@ftmo.com Thank you for your question, and do not hesitate to contact us again.
The point is, any strategy can "work". Its far more important to manage your risk and stick to your gameplan. You have to be okay with every single trade you take hitting your stop. Otherwise you're just taking random shots in the dark.
@@ShorlanTanzo agreed. Risk management is key in successful trading and the fact that he doesn't talk about it but instead focuses on getting the profit is a little concerning. There's a very wise quote from Jack Schwager who said know how to get out before you even get in
Same Strat with me.. but my patience and discipline still not there 😅 this Strat makes you more greedy.. flipping accounts in a day but without discipline you’ll blow your account like me😄
Broker is a broker, same day with another day either yesterday, today, tomorrow and future day. They see your trade, they pay your profits, they know you, they applaud for you, they compliment your win. But they will fcuk you someday. For them not to fcuk you, trade and withdraw your profits wisely. To my fellow Malaysian, hats off to you. Im proud one of good trader came from my country.
The trick is also his risk management. If you see his winrate is 70% ish but his Tp is su usually around .7R… that can mean that he takes trades slightly above 1 R or slightly less than .7 R to make that .7 be the average…. Meaning he likely knows when to close a trade before it reversed and also he mentioned he cuts his losses short. This is KEY for 1:1 strategies otherwise you’re just BE at best. Watch nick Shawn on RU-vid he explains the 1:1 in a great way
So, essentially hes waiting for a string push, either up or down, and then a sign of consolidation. What he somehow forgets to mention or simply is not aware of, is that price has entered a range of previous consolidation after a sweep or drop, base, rally creating market symmetry
So basically is he only trading the range… where is where the price continually goes up and down in the same areas for a bit of time?.. but if there’s suddenly a break out and the price trends then he might lose big.
@@wrestleciz6345 TBH, I wouldn't trust anything this guy says. Sounds shady as hell. I did a backtest with the rules provided and it just doesnt add up.
I backtested it too…. But it wouldn’t work if you had to wait for price up touch the lines he drew in order to take the trade opportunities. Instead I found that you still do what he does and then when you go to the 5 minute chart… you place a sell or a buy trade when the price hits the side of the bollinger band.
I'd like to join your discord, but it is impossible for me. Please make verification easier. I did not delete the discord from my old phone, so i can not verify the phone. Although i receive the code, it doesn't let me paste it.
