My New Funded Account and Strategies I Will Use — Transcript

Full transcript

1. 0:00I started a new $200,000 funded account  challenge and I'm going to use a combination
2. 0:06of two strategies that I've been discussing and  teaching lately and it's going to be my overnight
3. 0:12range breakout strategy as well as the 30 minute  case 4 happy trail strategy. So let's get into
4. 0:22both strategies and then I'm going to show you how  it's been going so far. So, the overnight session
5. 0:29strategy thing, usually I like to take it down to  the five-minute chart just so I get more precise.
6. 0:36And essentially, you just draw a box around the  overnight session. And you can see when New York
7. 0:46session ends and when London session opens right  here. So, we just draw a box around that from the
8. 0:52high to the low. And if we break out on top, we go  long. If we break out on bottom, we go short. Now,
9. 0:59it doesn't work out every single day. But  statistically over time, when price breaks out of
10. 1:06this, it usually continues in that direction for  the majority of the day. But because we're doing
11. 1:11both long and short with a 1 to 1.5 risk-to-reward  ratio, even if you lose one and win the other,
12. 1:19you're still up half a percent for the day. This  trade right here was from last Wednesday's live
13. 1:26stream. Now the secondary strategy that we're  going to be using in this, you got to switch to
14. 1:30the 30 minute time frame and we're using happy  trail and we're using case 4. The rest of the
15. 1:38settings are default and basically anytime it  prints we're taking a long if it prints below
16. 1:47or we're taking a short if it prints above. And  the strategy is also very simple, which is what
17. 1:53I'm trying to do. I'm trying to simplify trading  for everybody. So, let's say we entered a short
18. 2:00at close of candle, stop-loss just a few ticks  above the top of the candle, and we're going for
19. 2:07a 1:5 risk-to-reward ratio. Now we got this candle  that just recently printed uh two hours ago and we
20. 2:19are going to enter in a long position at close of  candle stop loss couple of ticks and we're going
21. 2:26for a one to 1.5 and I'm currently in this trade.  Now because it's a new account I always like to
22. 2:36test with a 0.01 01 lot size to see, you know, if  the contract size matches up. I don't want to over
23. 2:43risk. I don't want to over anything on the first  trade. So, as you can see, and that's trading
24. 2:49for you, ladies and gentlemen. I'll explain what  just happened, but as you can see on the chart,
25. 2:55big red candle. So, right there, you see my first  test trade, the 0.01. I made 83 cents in profit
26. 3:04off a basically 80 point move. Now today I entered  in a buy again at like a test position at one lot
27. 3:14and then as it pulled back I went into a full-size  position at five lots. So you can see right here
28. 3:20my trade entry my first one at one lot and then  as it pulled back I got into a second trade. The
29. 3:27trade did go in my direction for quite a bit of  time. I think I was at like $300 in profit and so
30. 3:34I moved my stop loss to break even and because  of the big candle it closed them out. Now,
31. 3:41even though the original stop-loss was a few  ticks below the low of the candle, once I got into
32. 3:47profit, once I get to a oneto one risk-to-reward,  I like to move my stops to break even just to
33. 3:55preserve the capital just in case there's an  aggressive pullback that I can't I'm not, you
34. 4:00know, Nostradamus. So, it happens and it happened  today. It would have been nice for my first video
35. 4:06on this account to be like, "Oh, yeah, massive  profits." But trading is not like that. And you
36. 4:12can't get upset either way. You have to stick to  your strategy and that's it. So, if you want to
37. 4:16learn about the overnight session strategy, you  can check out this video right here. And if you
38. 4:22want to learn about the 30 minute happy trail  strategy, you can watch this video right here.
39. 4:27Hopefully, this was entertaining for you. If it  was, drop a like and we will see you in the next