5 Minute Scalping Strategy **HIGHEST WIN RATE** — Transcript

Full transcript

1. 0:00So many of you guys are still getting this wrong and refusing to trade
2. 0:03with the trend.
3. 0:04So, in this video, I'm going to show you exactly how to trade with the
4. 0:08trend on the five minute chart.
5. 0:10Scalping, using free indicators to help you get your entry as well, as
6. 0:15a list of rules that you need to follow for every single trade.
7. 0:24Welcome back to the channel, everybody.
8. 0:25My name's already.
9. 0:26And this is the moving average.
10. 0:27I shall, we discuss everything day, trading to keep you profit, herbal
11. 0:31on a consistent basis.
12. 0:32So, after 90 some odd videos that I've made, some of you guys are
13. 0:36still struggling to DMS that I get from people asking about specific
14. 0:41trades or sharing their screen.
15. 0:43All of these things, come down to one issue, 99% of views, failed to
16. 0:50raise these people are looking for Trend, reversal trade, trying to,
17. 0:54you know, sell at the highest point and then get the move down.
18. 0:57And the fact of the matter is Trend reversal trades happened way, less
19. 1:02often then trading with the trend trades.
20. 1:05So right now I'm going to jump into the charts and I'm going to show
21. 1:08you exactly how you should set up everything for every single trade so
22. 1:13that you can have the highest success rate during the trading hours
23. 1:16that you trade, okay?
24. 1:18I love Australian dollar to US dollar rate is one of the most
25. 1:22consistently moving
26. 1:23Trend respecting Forex pairs.
27. 1:26That's why I love it.
28. 1:28So, the people that are asking this is why I trade Australian dollar
29. 1:32to US, dollar has gotten nice movement like, even with these big
30. 1:35spikes up and down, you're looking at a hundred and twenty two Pips.
31. 1:39Even on a smaller time frame, the amount that it moves, and the pit
32. 1:43count that you get plus the base currency is USD, which is the biggest
33. 1:47currency of my account.
34. 1:48That's why I like it.
35. 1:49So what I need you guys to do is start marking up your charts, have a
36. 1:54fully naked chart and I want you guys to Simply take it out to the 1
37. 1:58hour time frame, as you can see right up here 1H and you're going to
38. 2:02draw lines of support and resistance at the high and the low points.
39. 2:07You're going to get to above and two below, the current prices taking
40. 2:12into account.
41. 2:13The previous highs and lows, know a lot of people over think this,
42. 2:17you're literally just drawing lines at where the price had major
43. 2:21pullbacks or major spikes.
44. 2:23Also, it's important to keep in mind, small levels of consolidation.
45. 2:27As you can see, we had a level here where the price did not want to
46. 2:31get past this point.
47. 2:32So what you can do is draw another line right here but make it a
48. 2:37different color showing that it's not a major level of support and
49. 2:41resistance.
50. 2:41It's simply a zone that you want to keep in mind.
51. 2:44Okay, so now that you have your support and resistance levels marked
52. 2:48up on the 1 hour time frame to Major below and two major above.
53. 2:53Now, what you need to do is focus on your trading window.
54. 2:56Now, with the free indicator that we have for the channel linked down
55. 2:59below, it's not some magic indicator.
56. 3:02It's just a stack of random free indicators, put into one so it save
57. 3:06space on your tradingview.
58. 3:07Basically, you're getting a bunch of smooth, moving averages,
59. 3:10engulfing candle and showing you bullish and bearish momentum.
60. 3:14But one of the nice features of it, if you can select the time zone,
61. 3:17whether you're trading the London session or the Tokyo session, or the
62. 3:21New York session, this is going to help you see.
63. 3:23Exactly where you should be back, testing, which is very, very
64. 3:26important.
65. 3:27When back-testing any strategy now, for this specific video, I'm going
66. 3:31to be doing this scalp on the 5 minute time frame.
67. 3:34So we just dropped down to the five minute chart.
68. 3:36And now we can see where range between these two zones with actually
69. 3:41nice momentum.
70. 3:42Going up.
71. 3:42You always have to zoom out and take an overall look at what's going
72. 3:45on with the price action and that's rule number one with this
73. 3:49strategy.
74. 3:50You are only going to be trading with the trend.
75. 3:53Now, I'm going to show you each individual part of this indicator
76. 3:57breaking down.
77. 3:57Exactly why I'm asking you to check all of these things before
78. 4:01entering your trade.
79. 4:02You want multiple confluences telling you to get into your trade, have
80. 4:07the confidence to hold that trade.
81. 4:09So, right now, I only have the session feature turned on, on the
82. 4:13indicator to show you that.
83. 4:15This is your trading.
84. 4:16When do I trade?
85. 4:17The London session?
86. 4:18And this is my trading window.
87. 4:20I'm not looking any of this, and I'm not looking at any of this.
88. 4:23I'm actively trading during this time so is zooming into the chart.
89. 4:27Now we can see the area that we are going to trade.
90. 4:29Now I can turn on the other features of the indicator.
91. 4:33I'm going to turn on the 21, the 50 and 200 smooth moving averages.
92. 4:38Now you can see what I mean when I say trading with the trend I only
93. 4:41want you guys to take long positions when we are above the 200.
94. 4:47Moving average.
95. 4:48As to all line up the 21 to 50 in the 200 all going up conversely, if
96. 4:54everything is going down and it goes, 250, 21, that's a downtrend.
97. 4:59And I only want you to look for short positions under that 200.
98. 5:03So, this is your first rule for the entry.
99. 5:05You must be trading with the trend.
100. 5:07Now, let's get into the confluences OR rules that must be met in order
101. 5:12for you to enter your trade so too.
102. 5:13Clearly, see the trend.
103. 5:15There's a trend fill option on here and it shows you that it's green.
104. 5:19So you clearly see, we are in an uptrend.
105. 5:21We have a green Cloud.
106. 5:23Now, you guys.
107. 5:23Are familiar with the show, know that I like to trade my big ass
108. 5:27candles, big ass candles are momentum.
109. 5:30Moving candles, big ass, candles are engulfing candles and or three
110. 5:35lines strikes, both of these you can see clearly on the indicator.
111. 5:39Once I turn on all of these, you will now see every engulfing candle
112. 5:44and every three lines strike.
113. 5:46These double arrows are three line strikes.
114. 5:48Meaning that there was three bullish and one engulfing, bearish to the
115. 5:53downside now, because we are in an uptrend above the 200.
116. 5:58You are going to completely ignore these red signals.
117. 6:02We are only focusing on these green ones.
118. 6:06So your first Confluence to enter your traitor.
119. 6:09Your first signal to get that like, hey, I'm entering a trade now is
120. 6:13going to be in engulfing candle or a three-line strike.
121. 6:16So we got that one right here.
122. 6:18So let's draw a vertical line on that candle.
123. 6:22Now, the next confluence,
124. 6:23Must be met in order for you to get into your trade, is the RSI line
125. 6:29must be above the 50 level.
126. 6:31You guys know from my previous videos on RS.
127. 6:34I, the line must be above the 50.
128. 6:37Going up, showing, bullish, momentum, conversely.
129. 6:41It must be below the 50 line going down to show bearish momentum.
130. 6:44The RSI is a momentum indicator for the channel.
131. 6:48We have free indicators for this specific RSI also linked down below,
132. 6:52it's not your typical rsif change the colors, and it's just simply one
133. 6:56line.
134. 6:57It does not show overbought and oversold areas because I don't use the
135. 7:01RS.
136. 7:01I like that and neither should you.
137. 7:02So at this level where we got our candle, the RSI level was above the
138. 7:0850 line.
139. 7:08So, thumbs-up second Confluence for our trade, these two confluences
140. 7:13are enough for me to enter a trade, especially trading with the trend
141. 7:17because it is way simpler looking for Trend reversal trades.
142. 7:21I would be, at least, looking for 4 console,
143. 7:23But just to give you an extra umph of confidence with this trade will,
144. 7:27you can also do because on this RSI it actually shows you Divergence
145. 7:33has.
146. 7:33So if you look back at the RSI at the price action, a little bit,
147. 7:37you'll actually see a hidden bullish Divergence that is just something
148. 7:41to keep in mind knowing that it happened.
149. 7:43So bullish momentum is most likely on this price ax.
150. 7:47So you got in your confluences.
151. 7:49Now, when this candle closes right here, that's when this Arrow
152. 7:53becomes permanent.
153. 7:54And that's when you want to enter your trade going for a long position
154. 7:58at the close of this candle opening of this candle.
155. 8:02And with this scalping strategy, you can actually keep your stop-loss
156. 8:06twice, the length of the Scandal which consequently is the swing low.
157. 8:11Move.
158. 8:12Now, what I want you guys to do, when entering your trade is a 1/2 to
159. 8:17risk-to-reward ratio.
160. 8:17This must be set every single time.
161. 8:22Do not ever.
162. 8:23Ever enter a trade without a specific stop loss or a specific take
163. 8:28profit.
164. 8:28So that means on this one trade.
165. 8:30Your stop-loss is going to be eight Pips and your take profit is going
166. 8:34to be 16.
167. 8:35This is the bare minimum for your trade.
168. 8:38You want to at least get a two-to-one risk-to-reward ratio.
169. 8:41Now, if you remember, we drew up support and resistance sounds, which
170. 8:46when you put your trade on chart and you clearly see a support and
171. 8:50resistance level above that relatively close, you can be more
172. 8:54confident that the price is going to go up there before it makes a
173. 8:58difference move, whether it rejected off of it or breaks through it.
174. 9:01So that's another Confluence, showing you that your trade is most
175. 9:05likely to succeed.
176. 9:06This is good enough right here.
177. 9:08You can take your 16 tips with a two-to-one risk-reward ratio and be
178. 9:13completely done trading for the day.
179. 9:15If you do, the proper lot sizes and take profits one trade a day is
180. 9:19completely fine if you're doing it, right?
181. 9:22Because with proper risk,
182. 9:23Management.
183. 9:24You are only risking 1% of your account balance portrayed going for a
184. 9:29take profit of 2% of your account, balance portrayed.
185. 9:33So, for example, a $1,000 account is only going to be risking $10 /
186. 9:39trade.
187. 9:39So your maximum loss, if you lose a trade is only ten bucks.
188. 9:43And if you win your trade, it's going to get you 20 bucks in your
189. 9:46account.
190. 9:47So if every day you're gaining 2% and you trade 3 days a week, you're
191. 9:52getting 6% of your account balance per week, that's 24% gain on your
192. 9:58account each month over time.
193. 10:01That's going to get you freaking rich.
194. 10:03If however, you really want to Target zones, what you can do is close
195. 10:0880% of your trade right here.
196. 10:11So if you traded 8.10, you would close .08 of that trade and let the
197. 10:19rest run up to the next take profit Zone, which is that
198. 10:23Major support, and resistance level at point 74234.
199. 10:28Or if you are one of those people that love sitting on the charts all
200. 10:32day, what you can do is actually wait until you get a Divergence
201. 10:38meaning that you're continuing to get higher highs in the price
202. 10:41action.
203. 10:42But on the RSI, you're getting lower highs printing right here.
204. 10:46You can see that bearish Divergence at the top.
205. 10:49Now, this does not print every time.
206. 10:51Does the free indicator so doesn't work every single time.
207. 10:55So you just have to keep an eye on this.
208. 10:57If you're seeing lower highs on the RSI in higher highs on the price,
209. 11:01that's a Divergence.
210. 11:02If you're not familiar with divergences yet, watch this video right
211. 11:05here, but divergences are a very Advanced thing to know in trading.
212. 11:10So if you're not there yet, don't worry about it.
213. 11:12Just take your two to one risk reward Ratio or Target your next
214. 11:16support and resistance Zone.
215. 11:18And that's literally how to trade successfully now, Peep in mind, not
216. 11:22every day is going to be a trade.
217. 11:23Date for you.
218. 11:24For example, this day, right here, price action is below the 200.
219. 11:29Moving average.
220. 11:30We are going up towards it, but the moving averages are not lining up.
221. 11:34So on this day, if you're trading one currency pair and you're trying
222. 11:37to get one tray the day, you are not trading this day.
223. 11:41You're closing your laptop and you're going on a bike ride.
224. 11:44I just to clarify this.
225. 11:45This is what your active trade is going to look like.
226. 11:48This is no future price action If This Were live.
227. 11:51This is how it would look.
228. 11:52We have all the moving averages lined up in the upwards direction.
229. 11:55We got our engulfing candle and now price action is above every single
230. 12:00moving average.
231. 12:01Our RSSI level is above the 50 line.
232. 12:04And we've recently had it hidden, bullish Divergence, you are going to
233. 12:08place your trade.
234. 12:09When this candle closes, wait for the damn candle to close.
235. 12:12Please enter your Trade Stop lost twice.
236. 12:15The length of this entry candle and your take profit is going to be a
237. 12:19two-to-one knowing that this next support and resistance level is
238. 12:22higher up here in
239. 12:23Probably going to hit that.
240. 12:25Then if you have trouble, focusing are holding your trade, just close
241. 12:29your computer and let it play out.
242. 12:31This trade, worked out because support and resistance levels are
243. 12:36magnets for the price.
244. 12:38We have bullish momentum.
245. 12:39We're going up to a level is most likely going to hit it.
246. 12:43So if you are one of those people that closes your trades early
247. 12:47because you're afraid, you need to enter your trade with your specific
248. 12:50stop loss and take profit, and close everything, your phone, your
249. 12:55computer, and go do something to distract yourself.
250. 12:58This trade took less than one hour but what I want you guys to do is
251. 13:02literally just hop on the next day and see if your trade played out or
252. 13:06not.
253. 13:07This is going to be the best thing to keep you from emotionally.
254. 13:10Exiting your trades early or moving your stop loss cuz you think that
255. 13:15it's going to go in your direction, never ever, move your stop-loss
256. 13:18never ever ever risk money that you're not willing to lose if you're
257. 13:23putting up.
258. 13:23Your mortgage payment to bet on Forex, you're doing it wrong.
259. 13:27Only risk, 1% of your account balance, and your entire account
260. 13:32balance, should be a balance that you are, okay, with losing also,
261. 13:36just a note to people in the Discord group, there are scammers Galore
262. 13:40everywhere do not fall for it.
263. 13:42If it sounds too good to be true.
264. 13:43It is I'm not going to DM.
265. 13:46You personally telling you that.
266. 13:47I'm going to trade your account for you.
267. 13:49It's all a scam.
268. 13:50The best thing that you can do is actually turn off the feature where
269. 13:54people can DM you from the group without actually being your friend,
270. 13:57be aware that scammers exist.
271. 13:59Do not fall for it.
272. 14:01I do not have a telegram group.
273. 14:03I do not have some Instagram, like, I have an Instagram to tell people
274. 14:07that every other Instagram is a scam.
275. 14:09If you're really wondering, if this message is true or not just email
276. 14:13me.
277. 14:13Okay.
278. 14:14The email is in the about section of this YouTube channel.
279. 14:17I still don't understand why people are falling for these scams.
280. 14:20Everything I teach on this YouTube channel is free, it's always go.
281. 14:23Be free.
282. 14:24The free videos come out on this YouTube channel.
283. 14:26I don't make paid videos, but please just stop falling for scams.
284. 14:30It's really detrimental to the community and Forex Trading and
285. 14:34everything in general.
286. 14:34I really hope that this showed you, that you can actually trade every
287. 14:38single day with one trade, just one single trade a day, not 50, not
288. 14:4410, just one.
289. 14:45Now, if you guys want to learn the whole scope of everything that I
290. 14:50trade, the strategies that I use, watch this video right here,
291. 14:54explaining how you can trade it anytime of day, whether it's with the
292. 14:58trend Oregon.
293. 14:59And if you got some value out of this video and you would like the way
294. 15:02that I teach consider subscribing to the channel by clicking this
295. 15:06button right here.
296. 15:06Thanks so much for watching and we'll see you in the next one.