5 Minute Scalping Strategy Trade Breakdown — Transcript

Full transcript

1. 0:00if you're still struggling to make money
2. 0:01scalping on the 5-minute time frame you
3. 0:03got to watch this video right now I'm
4. 0:05going to recap one of the trades that I
5. 0:07took today and I'm going to explain why
6. 0:09I do what I do specifically on this
7. 0:12trade and I've covered it in previous
8. 0:13videos before but I just want to give
9. 0:15you guys a better idea of how this works
10. 0:19so this is the trade that I took today
11. 0:20on Friday November 8th I got my sell
12. 0:23signal right here and we had really high
13. 0:25volume to the cell side I got in a
14. 0:27little bit later than I wanted to so I
15. 0:29changed my risk percentage to less than
16. 0:311% I made it at about 1,500 and the goal
17. 0:34was to get a 1 to two risk to reward but
18. 0:36right about here uh I had stuff to do so
19. 0:39I closed the trade saw the volume
20. 0:41dropping and didn't want to get stuck in
21. 0:43something that was zigzagging for a
22. 0:45while but you might be asking yourself
23. 0:47what's this line and what's this line
24. 0:49well let's get rid of all the other
25. 0:50indicators and just look at the vertical
26. 0:53and horizontal lines this is midnight in
27. 0:55New York this is the price at which it
28. 0:58opened midnight New York this is called
29. 1:00the midnight New York line and what I've
30. 1:02seen just as a general rule of thumb if
31. 1:05price moves dramatically above or below
32. 1:09this blue line it usually tends to go
33. 1:12that way all day now that's just a
34. 1:15general rule of thumb and it's what I go
35. 1:17by to form my bias as you can see we
36. 1:20opened up little bit of grabbing
37. 1:22liquidity and then aggressive momentum
38. 1:25down which is why I went to the cell
39. 1:27side little bit of liquidity here
40. 1:30aggressive movement to the upside just
41. 1:32some information this is what we call a
42. 1:34fake out candle big engulfing candle and
43. 1:36then price took off for the whole day I
44. 1:38didn't actually take this trade some
45. 1:39days you know it consolidates all day
46. 1:41but most days when it stays above or
47. 1:45below the range it stays there all day
48. 1:47that's just what I've seen on German 40
49. 1:50usually closes higher or lower than the
50. 1:52open it's a really stupid rule of thumb
51. 1:54but it helps me form my bias so what
52. 1:57exactly am I waiting for I'm waiting for
53. 1:59London open before I make any moves so
54. 2:03this section right here is the first
55. 2:05hour of London open and if we break out
56. 2:08of London session we usually Trend in
57. 2:10that direction but because currently I'm
58. 2:12using the happy trail indicator for
59. 2:14strategy wars in the whole month of
60. 2:15November I waited for a signal luckily
61. 2:18enough this one doubled up with fractal
62. 2:20frenzy really good strong entry retraced
63. 2:23a little bit and then continue down now
64. 2:26if you're ever in a position where you
65. 2:27don't know if you should stay in a trade
66. 2:29or not all you got to do is use
67. 2:31Fibonacci retracements so we had this
68. 2:33move down and it retraced to the 50 and
69. 2:35then broke structure so once it breaks
70. 2:37structure we move our FIB tool from the
71. 2:39top to the bottom price retraced to the
72. 2:41382 and continue to reject down so now
73. 2:44this is our new start it goes all the
74. 2:46way down here so if it stops we're
75. 2:49looking for retracement in this area
76. 2:51price must be trending for this to work
77. 2:52there must be high volume for the trend
78. 2:54to continue strongly in one specific
79. 2:57Direction and that's all there is to it
80. 2:58man use happy trail use the New York
81. 3:00open use engulfing candles use Fibonacci
82. 3:03retracements and you can see here this
83. 3:05is my trade Locker
84. 3:08platform dashboard whatever you want to
85. 3:10call it I closed the trade right about
86. 3:13here I dragged it out to see what I
87. 3:14would have gotten had I held it but I
88. 3:16had to do so I closed it at a 1:
89. 3:18one and you can see that right here I
90. 3:20risked a little bit less than 1% which
91. 3:22is about 1,500 and I made about 1,600
92. 3:25these other trades I won't actually go
93. 3:27over because I wasn't using it with this
94. 3:29specific strategy but maybe in another
95. 3:31video overall up
96. 3:33$854 on the account now if you want to
97. 3:35learn the exact rules of this strategy
98. 3:37check out this video right here thank
99. 3:39you so much for watching I appreciate
100. 3:41your time and I appreciate you watching
101. 3:44all of these videos leave a comment with
102. 3:45what else you'd like to see from me and
103. 3:47I will see you in the next one