@VrilyaSS watch his vids dude. If you don't understand, keep watching over and over until you do. If you don't know how to trade, paper trade stocks only. Don't go into options or futures until you understand regular stock trading. Been paper trading over a month practicing his strategy. (Stick with one). He has enough information on his channel for you to watch several examples. If you still don't get it, get an ai assistant to help. Good luck and paper trade.
Honestly came back to comment again because this strategy is just that good. I personally trade SPY Options 6 DTE typically 2 dollars above / below the price range and I typically buy 4/5 contracts around $2.00 - $2.50 range. $1,000 per trade. After watching this video 5 times and sticking to a 2:1 Strategy these are my results for the week: 7/15: $347 7/16: $277 7/17: $239 7/18: - $168 7/19: $515 Total for the week: $1,210 Just wanted to say thanks again to Scarface and really be a personal testimonial to anyone who is on the fence about this strategy.
I've recently started day trading, and I've been watching a lot of videos along with a Udemy course to learn more. You're one of the most articulate teachers I've come across, and your visual aids are incredibly helpful. Great job, and thank you!
Have a nice day! Which first 5 minute candle are you looking at? London opening or 30 minutes after? Which currency pair or only gold? Thanks for the answer!
This was really helpful and I appreciate that you did it in realtime! Not sure if I’ve seen any of the gurus out there be this thorough on their process so Thank you for this, it was very helpful indeed!
Love your video. Couple practical questions: 1. What program is this that you're working in? 2. How are you entering these trades? Are these options trades? Thank you for all the guidance!
I loved how you emphasized the importance of quality over quantity in trading. Focusing on one to two A+ trades per day rather than multiple subpar trades is a valuable lesson. This will definitely help me manage my risk better and avoid unnecessary losses." Lesson: Prioritizing high-quality trades over frequent trades can lead to better risk management and more consistent profits. It's better to wait for the right setups rather than chasing the market impulsively
Thank you for the strategy and the always generous and thorough explanation, but the question to what was traded and what position size taken to generate those profits never seems to be answered - were these puts/calls on the spy and if so, how many contracts?
I recently got into daytrading and I've been watching a ton of videos and studying this video is a catalyst for me. I actually get it. Thank you so much.
Very cool video.👏🏼👏🏼👏🏼 I have one single question: Does it work just in the first 5min candle at the opening or any other 5min candle? Is that the only criteria to work?
Glad I ran into your videos. Thanks for your thorough analysis. I see you referencing stocks/options in your examples. Do you follow and call out signals for futures. Thanks!!
Damn man, after going thru the principles and finally backtesting this premarket strategy. Gettin really good results. The simplicity of it makes it one of my favorite strats. Thank you man, really appreciate your great quality videos man.
Great strategy. I have been following you and watched many of your videos several times. They are very useful. Thanks for your time and effort in putting them together ❤ A question - Is there a way to trade from charts, like how you set the SL and PT on the charts and execute the trade? Which platform offers that?
Thanks for explaining this strategy, I love it. One thing I'm not clear on or may have missed is what are you trading? Options or straight up shares / short selling? If using options what DTE do you typically target, and are you buying ATM, ITM or OTM? Thanks!
Excellent breakdown of your strategy and approach. Were you risking the same dollar value in every trade? Would be good to include how much you risked in the trade to help with context. Having said that your videos and explanations are clear, and very informative. Keep up the great work!
Sure, in terms of this video though all you would have to do is take the profit at the end of the video per trade and divide by the r multiple. Thats how much I would have risked per trade.
This strategy is so simple to understand, a 12-year-old could do it! Thanks for this video ST! I may have to unsubscribe to all the other so-called profitable traders out here who only show trades in hindsight.
If you buy (go long) with any position you want the market to go above your entry price to make money. If you sell (go short) with any position you want the market to go below your entry price to make money. In the cases where he went short, he wanted the market to go down to his profit target. Most brokers will only let you go short if you have a certain amount of $$ in your account, since losses are technically potentially infinite. It varies from broker to broker. Hope this helps.
good content. i wonder if this a spy/qqq spesific, or work on individual stocks as well? also, is 5min or the best, as some seem to use 30min or also. thanks.
Thanks for that idea. I am unsuren when to trade. Is it possible to trade not with SPY but with Forex? Is that 5min candle the one at 5 pm NYT then? If yes, there are extremely high spreads this time...
Quick question. Let's say your trading the 5 minute candle. What do you do in the case of halts within that 5 minute range. Let's say you have 3 one minute candles and then a halt up candle being your fourth. Do you mark the top of that candle or the next candle?
Great video. Just want to ask, I noticed you started from 9:30 a.m everyday. I thought London session starts from 8a.m? Please can you make it clearer for me. Thanks
i do the same strategy but on M5 for gold. only diff is my risk management in which i will take more than half my position at 1:1 and set SL to BE+ and let the rest run. been paper trading this strategy for a month now and so far only 2 red days.
This is really...im new and im going to implement this strategy and see how it goes... thank you... but in this video, how much are you trading each day? Its gotta be pretty high considering its $524 per share??...
Please explain how you calculate $ gained or lost. Are you buying stock shares (and how many?), or are you trading options? BTW, I just signed up today to get educated on your system.
Hello! I'm curious, what software do you use to make videos? I am interested in making videos, not about trading but about software development, and I like how you set your avatar and content up with neat effects (f.e. how you swiped from Friday to Monday).
What time are you looking for the opening 5 minute candle? GMT? I see major movements on USDCAD and EURUSD around 15:00, 16:00, 17:00, 18:00, 6:00, 8:00 GMT
@marlenmiceli1893 Yes for the NY session, but as I mentioned USDCAD and EURUSD are 10 times more active on the London session which is 11pm to 3am Arizona times 😮
I'm now understanding the strategy but still have a question. I don't understand futures so for now I trade stocks. What is the best way to go about stock selection?? Haven't found any video on this topic...
What exactly were you trading here? The video makes the strategy clear but keen to know whether this can be applied to Forex or if you are trading something else. Thanks for the video
WOW this is amazing. I just finished watching a video before this on the same strategy but it only showed TWO of the potential 4 scenarios. Had I not seen this in the recommended videos right after that one ended, I'd have never known. TY!
Best explantion for scalping price action on 5 minute chart. The only thing I do not agree with sticking to 2R nonsense. In real life the RR is not important as risk management. Please do the scalping trade video of 1 minute chart.
Hi Tony ! Great video What I'm having problem understanding is how do you make 300$ profit on a 3:1 RR trade, trading SPY....how big does the position have to be ? Please help me userstand it Thank you
Hi Tony...I'm a part of your trading community, and thx again for another great video! To clarify, however, you mean for every $100 not $1 you'd make the R multiple right? Thx again for the feedback
@@kzen848 Go watch JDubs pre-market plan on RU-vid. He's live on RU-vid in the mornings before the market session. He's one of the partners of the discord community.
This is the best strat out there. Literally helped me so much in understanding how the market works and this always retests unlike the pre market high and low start. However i prefer taking my trades on 3mins as its more accurate and you have more understanding about the single entry candle.
He's ignoring losing trades on purpose to artificially inflate the results of the backtest. I've counted at least 4 good trades fitting the strategy that were all losers that he ignored. Those results are not real. I'm not saying this strategy has no edge, but the results he shows are simply false.
This seems like a solid strategy, however I would add looking at the overall trend as well and identifying support resistance levels on larger timeframe, if market happens to open close to on of those levels base your trade on that information. Ie, in this strategy, doesnt make sense to short an uptrending market or go long on a downtrending market.
Thanks for sharing your knowledge with us, but my question which of the 5 minute candle we are to consider? is it the first 5 minute candle at the opening of the session or just random one.
Late to the vid. Backtested 16 sessions. 13 trades taken 5 won 8 lost. 2R:R. I had a lot that was close to 80% TP then they hit SL. For better SL management would you recommend taking partials when price seems to be retracing from TP? I’d appreciate any more help I can get but this video is enough itself 👌🏿
Hi Tony. Great job with the video. Glad to be a subscriber. Can I ask, what drawing tool do you use that shows you your risk/reward Profit/Loss etc?...I've never seen that tool before.
hello all, does this strategy mean that you can only take one trade a day? as it all depends on the last candle of the previous day? thanking you in advance.
I have a similar strategy buy mine works on the 1,5, 15, 30, and 1st hour. I know it works but funny this video popped up on my feed and this video adds context to what I'm already doing. With the help of this video, I may be able to even hold longer.
