5 Minute Scalping Strategy +$3,700 — Transcript

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1. 0:00I recently made a video where over the
2. 0:01month of August you can make 28% on your
3. 0:03account I back tested the whole month of
4. 0:05August and had seven winning trades and
5. 0:07four break even trades with zero losers
6. 0:09you guys really enjoyed that video in
7. 0:11this video I'm going to show you a trade
8. 0:12that I took using that strategy that
9. 0:14made
10. 0:16$3,700 let's get into it all right just
11. 0:19a recap for you guys if you did not see
12. 0:21that previous video rules for entry are
13. 0:23if you get a Buy Signal you enter if you
14. 0:25get a sell signal you enter your stop
15. 0:27loss is set to the previous swing low or
16. 0:29high or if that price is too close set
17. 0:32your stop- loss to the floating moving
18. 0:33average your risk reward ratio is 1 to4
19. 0:36and move your stop loss to break even
20. 0:38once you're at a 1 to1 risk reward ratio
21. 0:40through my back testing we had seven
22. 0:42winners and four break evens total of 11
23. 0:44trades which got us 28r and these were
24. 0:47the breakdowns of account sizes and how
25. 0:50much profit you could have potentially
26. 0:51made the indicator that I'm using is
27. 0:53called wave riter the settings for the
28. 0:55indicator are right here you could take
29. 0:56a screenshot of this so that you can use
30. 0:58exactly what I use my chart is set to
31. 1:01UTC plus 2 because that's my time zone
32. 1:04and the chart that I'm looking at is
33. 1:05German 40 from the pepperstone broker
34. 1:08this is not my broker I don't trade
35. 1:10using pepperstone this is simply the
36. 1:12chart that I selected on trading view
37. 1:14that being said back testing is back
38. 1:17testing it is all theoretical you just
39. 1:20do it to get a general idea of if this
40. 1:22is a viable option then you forward test
41. 1:25it that's where you get your actual
42. 1:27results for the strategy but if we look
43. 1:30back at the back testing that I did you
44. 1:32could see that price was clearly
45. 1:34trending in One Direction and I was only
46. 1:37taking these long signals because that's
47. 1:39all that was being printed once we broke
48. 1:42that trend line which is built into the
49. 1:44indicator with a monstrous move to the
50. 1:47downside 531 points on an indic which is
51. 1:51huge especially if it happens in one day
52. 1:54I'm not interested in Long positions
53. 1:56anymore I'm sorry that's just not me I'm
54. 1:58going to explain why cuz there's more
55. 1:59multiple reasons to it the first two
56. 2:02signals that the indicator printed were
57. 2:04right here after this 531 Point
58. 2:07downwards move number one no thank you
59. 2:10number two looking at Price action this
60. 2:13was the high point right this was the
61. 2:15low point right here was a failure to
62. 2:18make a lower low when I see price fail
63. 2:20to make a lower low I immediately think
64. 2:23consolidation so now Market structure
65. 2:26price action we have a low a high and a
66. 2:29fail to make a lower low so we should
67. 2:32make a higher high then this happens a
68. 2:35failure to make a higher high and then
69. 2:36we get a printed signal no thank you
70. 2:40whatsoever now if you think about
71. 2:42consolidation if you want to trade the
72. 2:43Consolidated range you can do so and you
73. 2:45can only buy here and only sell here
74. 2:48that's you I'm not into that whatsoever
75. 2:51but once this high range and low range
76. 2:53was formed in this consolidation I'm now
77. 2:56looking at the 50% line the halfway mark
78. 2:58of the high and the low then we got a
79. 3:01Wave Rider signal print here which
80. 3:03rejected off of the 50% line and that
81. 3:06floating moving average so that was my
82. 3:08two confluences as well as the 90 others
83. 3:11built into the actual indicator itself
84. 3:13so I took a short position now because
85. 3:16of the price differences and the spreads
86. 3:18and the fact that I didn't get in
87. 3:20immediately at Candle closure the signal
88. 3:22printed right here at1
89. 3:2518555 and my entry price was way further
90. 3:29down right about here 543 that's 11
91. 3:32points it's a huge difference so my stop
92. 3:35loss was at the swing High which is also
93. 3:37that floating moving average price
94. 3:39started to reject up a little bit I was
95. 3:42like well that sucks and then it
96. 3:44cascaded down once it started to really
97. 3:47break down I was looking at the open
98. 3:49trade and I even posted this on my
99. 3:51telegram group so just so you guys can
100. 3:54see what I was talking about in the
101. 3:56video that I just released we got a
102. 3:57signal on the five minute chart on uh
103. 4:00German
104. 4:0140 and uh it's going in the right
105. 4:04direction so I was pretty confident in
106. 4:06it so I actually took the
107. 4:09trade uh Focus 3,800 in
108. 4:15profit let's uh let's go I know I said
109. 4:19uh 1 to four risked reward but that was
110. 4:21just back testing now we're actually
111. 4:25live so I think uh one to two is good
112. 4:30good let's close
113. 4:32it and so as you just saw I decided to
114. 4:36close this trade early this was the
115. 4:38first trade that I took forward testing
116. 4:40this strategy after back testing it so I
117. 4:43wanted to be a little bit more
118. 4:44conservative and I'm completely happy
119. 4:46with a 1 to two that's amazing risk
120. 4:48management and an amazing risk reward
121. 4:50ratio so I walked away with $3,700 on my
122. 4:53funer Pro account I was a happy dude had
123. 4:55I not I still would have broke even
124. 4:58because the rules to the strategy work
125. 5:00once the trade gets to a 1:1 risk reward
126. 5:03ratio which is right here your stop loss
127. 5:06is moved to break even so during this
128. 5:09news Wick probably you would have broke
129. 5:11even now the purpose of that video the
130. 5:14back testing video was to show viability
131. 5:17of a strategy then when you forward test
132. 5:19it you use your actual brain and decide
133. 5:21whether you want to get into a trade or
134. 5:23not not just blindly take any signal the
135. 5:26most important thing you need to
136. 5:27understand is price action higher highs
137. 5:30higher lows breaks of support and
138. 5:33resistance so just zooming out a little
139. 5:36bit the next signal that we got right
140. 5:38here was a bullish signal and like I
141. 5:41said I'm not interested in bullish
142. 5:42signals when we're in a torrential
143. 5:44downtrend plus looking at my
144. 5:47consolidation zone right here the bottom
145. 5:49of my consolidation Zone was a level of
146. 5:53support the support was broken and once
147. 5:57support is broken it usually turns into
148. 6:00resistance so buying at an area of
149. 6:03resistance is stupid so we don't take
150. 6:06those types of Trades and this next one
151. 6:08would have been a break even because
152. 6:09with a 50p point stoploss moving it to
153. 6:12the floating moving average it would
154. 6:13have gotten to the 1: one and reversed
155. 6:15on you and you would have broke even but
156. 6:17boy did it push up after that I don't
157. 6:19like the way the economy is going right
158. 6:21now so my overall bias is very bearish
159. 6:24in the short to medium term so things
160. 6:27like this looking at the top of that
161. 6:29consolidation range price jumped over it
162. 6:32a little bit and now is trading below it
163. 6:34yeah no thanks then looking at the daily
164. 6:37I'm not interested in buying at the top
165. 6:39of this range because there is a lot of
166. 6:42stuff right here this point this point
167. 6:46this point this point if you want to
168. 6:48trade this strategy alongside me or have
169. 6:51a better idea of what I'm looking at
170. 6:53I'll be dropping my trades in the markup
171. 6:55board area right here on the Discord
172. 6:57Channel they're not going to be signals
173. 6:59they're going to be markups and
174. 7:01explanations as I made in this video
175. 7:03right here so yeah if you want to try
176. 7:05wave riter go to trd.com and sign up
177. 7:08you'll get access to that as well as six
178. 7:10other indicators and the Discord group
179. 7:12or if you want to try one of the
180. 7:13hundreds of strategies I've explained on
181. 7:15this YouTube channel for free just go
182. 7:17ahead and shoot on over to funder Pro
183. 7:19and try to pass your challenge account
184. 7:21using the link down below you'll get a
185. 7:2210% discount we'll see you in the next
186. 7:24video