Video Summary: (Thank Me Later) - The strategy involves using two different time frames: a higher time frame to identify the trend and a shorter time frame for trade entries. - The first step is to determine the direction of the trend by observing if prices are consistently making higher highs and higher lows above the 50 EMA. - Once the uptrend is confirmed, the trader looks for a specific zone to enter trades, which is the previous level of resistance that is likely to become support. - On the shorter time frame, specific chart patterns like double bottoms or head and shoulders patterns are identified for trade entries. - The entry is triggered by a breakout above the neckline of the identified chart patterns. - Risk management is crucial, and beginners or struggling traders should avoid risking a significant portion of their account on each trade. - Backtesting the strategy is recommended to gain confidence and determine its profitability over a large sample size of trades. - Developing a strong trading mindset is essential to handle losses and drawdowns effectively.
The loss here you have shown is a great example of the late Mark Douglas's "probabalistic mindset" and that "every trade has a random outcome" -- leading to "you don't have to know what's going to happen next in order to be successful." This is a great example and strategy to follow, while for me I use pullbacks to the recent support/resistance on futures, the patterns repeat themselves in the same way. It's definitely the "only" strategy I would use if I had to choose one.
Do you ever think it's funny how they tell you before you know anything, that trading on patterns will lose you money but it turns out the opposite is true? It's almost like they want to keep us broke and in debt-slavery
Hey Steven just wanted to let you know I've been testing your strategies with paper trades on mt5 and trading view and can say I'm happy with the results. Love you work and guidance keep up the great work mate!
Ten months ago, I was a newbie clueless about trading. I didn't know what a pip is, didn't know the meaning of bullish and bearish, didn't know about wicks and I was confused what those candles really meant. TTC taught me from grass and I've accumulated so much knowledge. Currently I'm still backtesting but will soon start trading once i make a year of learning. I prefer swing trading as a beginner because I managed to make profits from it. You analyse the market then take a position for two to three weeks or more depending on the market. It maximises profits. The trading channel is king 👑 The trading Geek, The secret mindset, Rayner Teo, The moving average also helped me in learning .
Stavo the best mentor,I encourage every beginner like my self to have one or two videos of your choice and watch them as many times as possible. Trust me you'll be learn something new every time you repeat
I have downloaded Almost every video on this channel It’s been helpful re-watching them at me leisure time. If only I could subscribe a 100 times to this channel I would, thanks for all the content.
This is the first time I've seen this video. I'm consistently profitable and I use a similar strategy, only difference is that I enter on a candle stick reversal pattern like bullish/bearish engulfing. All strategies have losing trades however the most important thing for every trader who's looking for consistency is to be consistent in the approach as well. Like their risk management. A consistent trader is someone who consistently Implement their trading plan, no deviations whatsoever, complete discipline in their approach which most traders struggle with as well. The only way you can find out if a strategy truly works for you is to implementam it for the next 50 - 100 trades. The rule of thumb is to implement it for the next 100 trades and I prefer that too. It gives you a good sample size. Thanks for sharing Steven.
I think what's really getting me is I'm unsure what kind of trader I am. I think I'd be best suited to stay with the trend and hold trades longer but I find myself (as a beginner still) trying to buy here, and sell the pull back and then switch back to buying.... I think my first vision of forex trading haa been clouded thinking I need to only hold trades for a few hrs.. I think as a beginner, holding trades longer is key to profits.
facts espcially on high growth dividend paying stocks. Im just buying and holding while I learn all this stuff. I just started end of April. Ive been taking losses with a few beginers luck winning trades. But hes right on certain trades I dont want to hold I need to use my stop losses especially if there is no dividend that month to lower the hit.
depends on what timeframe you're trading. If you're swing trading a 60 minute chart, you should be holding for more than 2-3 bars anyway. Don't try to hold for hours while trading a 5 minute chart. you're right that scalping isn't recommended for beginners since you need to take more trades and see more setups. bare in mind swing trades will usually lose more than they win though, that's kind of a trade off
I can say trading has taught me to have a lot of patience because in this vedio you just play the market like a vedio but on real time you wait patiently for the high time frames
Can I trust you to teach me the right way? I don't mind paying for a mentorship, but man to man, I'm willing to learn properly, I just really need someone who has the genuine knowledge. Tired of these RU-vid guys who pretend they trade just to make you buy a course that's trash.
Thank you for keeping it real with us. We're all getting hit over the head with these prices, the good thing is being in a position to pay these prices. I feel really bad for those who are not in the position to pay for their basic needs.
Investment has been the easiest means to save and multiply money because money left for saving always ends up used without returns. work smart not hard
This is one of the easiest strategy out there. Thanks for showing the strategy can also give loss in the market. For me i av realised that what matter most is the zone marked out. No matter what PA is saying a marked zone according to the trend is going to be profitable or not. You can now use PA that align with the trend to scale up the entry with proper risk management!
I have learned a lot from your presentations. its the only presentations that makes sense to me and that has caused me to starting to be a profitable trader
I love all of your content. Recently I’ve just been focusing on the 4H TF due to being busy with my normal job. I think this will work too given you are using the 4H as the anchor chart. Love this - Thank you 😊
I too but I think monitoring the 15-min TF for possible entry might pose a challenge. How did it go for you? Was it convenient? I'm considering using this strategy on a 8-hour and 4-hour TF.
The best investment one can do right now is investing on Forex trading though stocks are good but ever since I swapped to Forex, I've seen so much difference
Steve I really like how you are simply articulating this concept. It's indeed sinking in. Thank you and may God continue giving you the grace. How much is mentorship program?
what happens if it breaks through the whole box? is that when theres break of structure and and change of course? then you need to flip the rules to the bearish version?
i love this channel for so many resons. One is about the thunbnails. Is so simple and honest compare the other thumbnails in others channels that promise you 100000000000000000 dolars. Thanks. We need that different.
On time 14:59, I will not make a Sell trade because your moving average is still going up. But I'm sure other traders will make a mistake and sell. Good video 👍
Watched your content for quite some time. I have a very specific question with what may be a not so specific answer. Why do you trade forex? Why not SPY, QQQ, tech stocks or what just may simply be moving on any particular day in the NYSE or NASDAQ? Is it a comfort thing, familiarity? Is the TA more predictable or consistent? The PDT rule, leverage? Trading hours? Just curious
i love your content it has helped me understand the market way better. im from South Africa and trading in my country only just got popular recently and your channel has put me ahead . also as i was trying to sign up for your course i realised that your website is not that presentable and i am besides a day trader (beginner) im also a website designer and i'll love to work on it for any amount that i will reinvest into my account and furthermore my trading career . thank you i hope you see this
