How I Make Money Trading, Even When Im Wrong — Transcript

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1. 0:00Trading became easy when I realized
2. 0:01direction didn't actually matter. 90% of
3. 0:03traders tell you to trade with the
4. 0:05trend, that you need to find and follow
5. 0:06your daily bias. But 90% of traders also
6. 0:09lose money. And so for the past year,
7. 0:11I've only been taking reversals,
8. 0:12catching small reactions and price
9. 0:14action, and not caring about direction
10. 0:16at all. And I've never been more
11. 0:17profitable. And so these are the results
12. 0:18over my past year of trading, just
13. 0:20reversals, not caring about direction at
14. 0:22all. And it's actually insane how much
15. 0:23more profitable I've been. And trading
16. 0:25is easier, it's less complicated, and
17. 0:27I'm more consistent than ever. And so in
18. 0:29this video, I'm going to show you my
19. 0:30exact strategy to profit regardless of
20. 0:32what happens. How I make money even when
21. 0:33I'm wrong. But first, we need to
22. 0:35understand how price action actually
23. 0:36moves. You see, price is elastic. It's
24. 0:38like an elastic band. The further you
25. 0:40stretch in a certain direction, the more
26. 0:42that you are for that elastic band to
27. 0:43snap back. Think about like this. As
28. 0:45price action pushes in a certain
29. 0:46direction, the further you go up in that
30. 0:49move, the more tension increases. That
31. 0:51elastic band is being stretched. So, if
32. 0:53you go too far, you'll have a snap back.
33. 0:55And the whole point of this strategy is
34. 0:56to identify these stretches in price and
35. 0:58then take advantage of these little
36. 1:00snapbacks. For an example, we've had a
37. 1:02stretch here and this has actually
38. 1:03resulted in a shift of market structure.
39. 1:05So, you think you'd be wanting to look
40. 1:06for buys, but I would actually be
41. 1:08looking for a sell here for a correction
42. 1:10of this overextension, this stretch of
43. 1:12this elastic price action just for that
44. 1:14little snapback here. And so, regardless
45. 1:16of where the direction is going, where
46. 1:17price action is moving, it could push
47. 1:19bullish, it could reverse and push
48. 1:21bearish, it could go sideways. The most
49. 1:23likely scenario over the next 10, 20, 30
50. 1:26minutes is that there's going to be a
51. 1:27correction, a reaction to this
52. 1:29overextension. This is the highest
53. 1:31probability move. And this is how I get
54. 1:33and this is how I get an 80 plus% win
55. 1:35rate because regardless of where the
56. 1:37market goes, you know, bullish or
57. 1:38bearish, even sideways, I'm going to
58. 1:41make money anyway. And so I'll show you
59. 1:42my three-step process with a trade
60. 1:43example that I took early this morning
61. 1:45on UJ. As you can see, I took a small
62. 1:47reaction price action and I was actually
63. 1:49wrong about direction. It continued
64. 1:50pushing bullish later on in the day, but
65. 1:52I still made 6K on this trade regardless
66. 1:54of where price action was going. And as
67. 1:56you can see, it is extremely consistent
68. 1:58the results that I'm getting. And so,
69. 1:59let's get into this trade. I'll show you
70. 2:00exactly how I took it and identified it
71. 2:02using the three-step process. Okay, so
72. 2:04step one is to make sure you're trading
73. 2:05within a rangebound condition. The
74. 2:07reason here is that you're more likely
75. 2:08to have better and bigger reactions or
76. 2:11snapbacks of price action within this
77. 2:13condition. And the easiest way to
78. 2:14identify this condition is just to look
79. 2:16at where you currently are and look back
80. 2:185 to 10 plus hours and see were you
81. 2:20around the same area. It's pretty
82. 2:21obvious we've been going sideways for
83. 2:23that period of time. And so moving on to
84. 2:24step two, which is to wait for an hourly
85. 2:26extension. This part will actually help
86. 2:28you time the entry and tell you exactly
87. 2:30when to enter down to the minutes. So
88. 2:31we're just going to zoom into the range
89. 2:33and we're going to wait for a new hourly
90. 2:34candle to open. And we just want this
91. 2:36hourly candle to extend into either the
92. 2:38high of that range or into either the
93. 2:40low of that range. And so I'll just draw
94. 2:41a zone around those lows and a zone
95. 2:43around those highs here. And just wait
96. 2:45for price action to come into either one
97. 2:46of those zones. You can see here we've
98. 2:48come into this zone. We've taken out
99. 2:50this previous high here. And that moves
100. 2:51us onto step three. Now that we've had
101. 2:53an alley candle open and immediately
102. 2:55extend into the high or the low. Step
103. 2:57three is just to wait for an entry
104. 2:59model. I just want to be clear as well.
105. 3:01It's important how you overextend. And
106. 3:02so we want a big stretch of price action
107. 3:04to build up all that tension to make it
108. 3:06more likely that there's going to be a
109. 3:07snapback here. And so for the entry
110. 3:09model, I mainly look for this around the
111. 3:11halfway point of the hour, around 30
112. 3:12minutes into that hour. And the main
113. 3:14entry model I use is just a simple shift
114. 3:16of market structure here. I'll wait for
115. 3:18price to break a high and then
116. 3:20immediately break a low. I look to enter
117. 3:22on a pullback to around 50% of that
118. 3:24shift. And so I'll just drop down onto a
119. 3:27lower time frame. And we'll just wait
120. 3:29for that shift of market structure. So
121. 3:31we can see we're making higher highs and
122. 3:32higher lows. That 30-minute candle is
123. 3:34continuing to push bullish. And then we
124. 3:36have a break of a high here and then we
125. 3:39immediately break that low. So a bit of
126. 3:41a shift on the lower time frame. So what
127. 3:43you can do is just wait for a pullback
128. 3:45towards 50% of that shift. My entry was
129. 3:47a little bit late due to that volume.
130. 3:49And for my target it was around 50% of
131. 3:51this extension here. And so that's
132. 3:53around a 1.3 risk reward. And most
133. 3:55likely price is going to have a little
134. 3:56reaction for that snapback of the
135. 3:58elastic price to release that tension.
136. 3:59So it can further continue pushing or it
137. 4:02can reverse or it will range. It doesn't
138. 4:04really matter. But most likely there's
139. 4:06going to be this little reaction here.
140. 4:07And so, as you can see, it plays up
141. 4:09pretty nicely. Comes back into 50% and
142. 4:11it reverses, continues pushing bullish,
143. 4:13but it doesn't really matter. We've
144. 4:15already caught our reaction of this nice
145. 4:17stretch in price action here. And so,
146. 4:19for our next example, we're actually
147. 4:20going to be trading counter to the
148. 4:21direction. We can see that pretty
149. 4:23clearly we're moving bearish here, but
150. 4:25we're just going to wait for an hourly
151. 4:26candle to open within this bearish
152. 4:28trending range and overextend into the
153. 4:30lower half here, which it does very
154. 4:32nicely. And we're going to be looking
155. 4:34for something pretty similar to the
156. 4:35previous hour where the open of the hour
157. 4:37immediately pushed bearish and then
158. 4:38around the halfway point you had that
159. 4:40little reaction, that pullback. And so
160. 4:41we've had the nice extension. Now we're
161. 4:43just going to wait for a shift of market
162. 4:44structure around the halfway point of
163. 4:46this hour, this wick here. And so
164. 4:47waiting for a 1 minute shift of market
165. 4:49structure. These are the most recent
166. 4:50highs here. This is the most recent
167. 4:52structure because it was pretty high
168. 4:53volume. And so we want to wait for a
169. 4:55break of this structure here. And so we
170. 4:57have a break of that high here. What we
171. 4:59just want to do then is wait for a
172. 5:00pullback. Wait for price action to come
173. 5:02into 50% of this move. We then have
174. 5:05another shift within that. This would be
175. 5:07a even lower time frame shift here. We
176. 5:10can look for an entry here. Stop below
177. 5:12the low and we can target 50% of this
178. 5:15alley over extension here for a nice 1.5
179. 5:18wrist toward. You see it plays it pretty
180. 5:21nicely. And then you actually have
181. 5:22another hourly candle overextend for the
182. 5:24next hour or 20 to 30 minutes into the
183. 5:27high of this range happen a bit earlier
184. 5:29on into the hour. But this move built up
185. 5:31quite a lot of tension. And so likely
186. 5:33there's going to be a reaction, a
187. 5:35correction of this move here. And around
188. 5:36the halfway point, you see it shift
189. 5:38bearish and again continue pushing
190. 5:40bearish. And so we can just wait within
191. 5:42this condition and wait for an hourly
192. 5:44candle to open overextend in a certain
193. 5:46direction and then shift around the
194. 5:48halfway point to have that little
195. 5:49reaction of this extension here. And
196. 5:52it's so consistent every single day.
197. 5:55Okay, same price action again within the
198. 5:58same bearish trading range. We've had
199. 5:59this hourly candle open and immediate
200. 6:01overextend push bearish here.
201. 6:06And this is actually quite a lot of
202. 6:07volume.
203. 6:09But around that halfway point of the
204. 6:11hour, we have a bit of a shift of
205. 6:14direction. We break out these we break
206. 6:16these one minute candle wick highs. So
207. 6:18we break a new high here. We can look
208. 6:20for a pullback in towards 50% of this
209. 6:22move. It's in the second half of the
210. 6:24hour. We can put a stop loss at that low
211. 6:27and we can target 50% of this
212. 6:28overextension here. That' be a 1.6 six
213. 6:32risk-toreward on average and taps into
214. 6:35that hits the take profit pretty easily.
215. 6:38And we don't care about where price
216. 6:39action is going. It can go against us.
217. 6:41It can flip, you know, in reverse. It
218. 6:43doesn't really matter. We're just
219. 6:44targeting the highest probability moves
220. 6:47and waiting for this specific type of
221. 6:48hourly overextension for price to
222. 6:50stretch without a pullback for 20 or 30
223. 6:52minutes. You're just extremely likely to
224. 6:54have these high quality moves. The price
225. 6:56has these little reactions, these
226. 6:58snapbacks, and it is extremely
227. 6:59consistent. And then again for our third
228. 7:01example, you can see we're in a bit of a
229. 7:03range here over the past five plus
230. 7:05hours. And as you can see over these
231. 7:07five plus hours, you tend to have that
232. 7:08little reaction, that snapback in price
233. 7:11around that halfway point of the hour,
234. 7:13especially when you get that extension
235. 7:14or just price action moving in a certain
236. 7:16direction for that period of time. You
237. 7:17are likely to have that snapback and
238. 7:19again a little reaction here around the
239. 7:20halfway point of this hour to create 50%
240. 7:22of this bearish move here. And so in
241. 7:24this range again, we'll just identify
242. 7:25the highs and the lows of this range.
243. 7:27We're at the lows and the new hour of
244. 7:29this the new open of this hour opens and
245. 7:32immediately pushes bullish into the
246. 7:33upper half of this range here. So, we're
247. 7:35approaching the halfway point of this
248. 7:37hour. We have a nice overextension here
249. 7:41and we can just wait for price action to
250. 7:43shift bearish which we have. We've taken
251. 7:45out a high into taking out a low. We can
252. 7:48look for a pullback in towards 50% of
253. 7:50that bearish move there.
254. 7:53And we can just target 50% of the hourly
255. 7:55candle to overextend here.
256. 8:00And as you can see, taps in and then
257. 8:02hits our takeprofit quite easily. And
258. 8:04again, in this example here, if price
259. 8:06was if price action was going to shift
260. 8:08and push bullish, because you had this
261. 8:10extension here, you're likely to have a
262. 8:11pull back to release that tension in
263. 8:13order to then, you know, push bullish.
264. 8:16If it's going to reverse or was going to
265. 8:18go that way anyway. If it's going to
266. 8:20rangebound, well, you're still likely to
267. 8:22have that reaction of this of this
268. 8:23previous bullish movement. And so, this
269. 8:25is how I make money trading regardless
270. 8:26of where price action is going,
271. 8:28regardless of the direction, because the
272. 8:30direction doesn't matter if you're
273. 8:31entering at the right time. And this
274. 8:33alley candle extension strategy makes it
275. 8:36so you do enter at the right time. I'm
276. 8:38able to get a positive riskreward with
277. 8:40an average win rate of around 80%. It is
278. 8:42insane how profitable this strategy is.
279. 8:44And so, when you just focus on catching
280. 8:46these small reactions, you will get the
281. 8:48consistent results you want. And as
282. 8:49always, test this out, forward test it,
283. 8:50back test it, get some experience with
284. 8:52it before you put it into live
285. 8:53conditions. And if you want more
286. 8:55information on exactly how to use this
287. 8:56every single day, just watch this video
288. 8:58right here. I go in-depth deep dive on
289. 9:00exactly on the actual mechanics of this
290. 9:02approach. And if you want any other free
291. 9:03resources, my free journal, my my free
292. 9:05mind maps, or more information on this
293. 9:07counter behavior strategy, links in the
294. 9:09description or below, join the Discord
295. 9:10to other free content in there. But hope
296. 9:12you guys enjoyed this and I'll catch you
297. 9:13guys in the next