so every single day trader has the dream
of just
sitting at home relaxing getting on your
phone and making millions of dollars a
day
so in this video i'm going to show you
how to set up mt4
on your phone for my scalping strategy
so that you can just sit at home relax
and day trade
[Music]
welcome back everybody my name is artie
and this is the moving average
a show where we discuss everything day
trading to keep you profitable on a
consistent basis
and if you haven't noticed the change of
scenery we're doing a special edition
episode from home
to teach you guys how to trade only on
your phone setting up my scalping
strategy on mt4
so without further ado let's kick back
relax
and help you with some settings okay so
what i want you to keep in mind right
now
look at my mt4 these are the currency
pairs that i trade i trade ethereum i
trade us 30
and i trade australian dollar us dollar
i don't have 97 different pairs in my
watch list
because that's just too much to look at
i've mastered these three pairs and so i
only trade
these three pairs i suggest that you
guys do the same also a quick side note
if you guys are trading indices or
crypto currencies
you can actually click on this pair and
get the details
and it'll show you the contract size for
your broker a lot of people are asking
how come it's different for .01 on my
broker than it is on your broker
this is why so what you want to do is
get into the settings of the chart so
click on
chart and what you're going to do
immediately is on the top
bar you're going to see the f button
you're going to click that f button and
on the main window
you're going to put up some moving
averages the first one is going to be a
200 period moving average
and you're gonna change that color to
red and make it a little bit thicker at
two pixels
shift will stay at zero and the method
is actually going to go to
smoothed okay now you're gonna add
another moving average you're going to
click main window
select moving average and you're going
to change this one to
50 also smoothed apply to close
and you're going to change the color of
this one to blue also make it a little
bit fatter at 2 pixels
and the last moving average that you're
going to do is
the 21. so select moving average again
change this number to 21 again smoothed
and you're gonna change this color to
green it doesn't really matter what
color the moving averages are just so
that you know what they mean
and now you can see on here on my chart
i have the 21 the 50 and the 200 day
moving averages
now what i also like to do to actually
get an indication of which direction the
price is going
i like to add a rsi
so you're going to add another indicator
you're going to scroll down until you
see the relative strength index
you're going to click that leave the
period at 14
apply to close and your levels you're
going to change to these
you're going to do two custom levels at
15 and 85 you're going to change those
to buy and sell
and then you're going to make another
level
at 50. now you see your rsi not the 70
30 range that's the standard across
all youtube channels but what you're
doing is setting up the rsi to show
momentum
if it is above the 50 that is bullish
momentum if it is below the 50 it is
bearish momentum
the reason i have it set at 85 and 15 is
those are like
massively over extended price ranges so
at that point
if i see the rsi at those levels i'm not
getting in
on the position right away i'm
considering it as an option so as you
can see right here
we actually got very low on the rsi
almost down to the 15
and then the price started to come back
up but if you notice
at this point it was at the 15. when it
got to a lower low
the rsi actually went up and that was my
divergence and that's when i would have
gotten in on a position
now you're wondering where i would have
taken profit if i would have gotten in
on my position
on this rsi divergence right here
my first take profit level where i would
have closed 90 of my trade would have
been right here at the 21 day moving
average
so basically my strategy if you have
this up all three moving averages
on your mobile mt4 you're basically
scalping the price
in between these moving averages if it
crosses through the 21
you are in a buy position getting in
towards the 50.
if it passes through the 50 you are
targeting
the 200 and vice versa if the price was
going down
you'd be targeting the moving averages
as it crossed through each one but again
you only want to wait for solid momentum
you don't want to see this consolidation
you want to see nice
big spikes because that means there's a
lot of volume
happening in the market and those are
the things that you want to trade you
want to trade volume and you want to
trade momentum now that's scalping
in between the moving averages trying to
get these moves
in between from where it is at the 21 to
where it is at the 50 to where it is at
the 200
but if you are following the trend and
scalping off
of a moving average going in a certain
direction following the momentum it's
going to be a little bit different as
you can see right here we bounced off of
the 50 moving
average and kept going up and we were in
a clear
uptrend so you would have bought scalped
a few pips and got out of your position
quickly then when it started coming down
you waited for a re-test
of that 50. scalp get a couple bucks
and walk away scalping is quick
positions in and
out you're not holding these trades long
term for hours and hours and hours
so just a recap we have a 200
smooth moving average we have a 50
smooth moving average
and we have a 21 smooth moving average
as well as our rsi
only showing a line in the middle the 50
line and if it's above the 50
then we are trending up if it is below
the 50 then we are trending down
an over extension of the rsi to the 85
and 15 level which are extremes is the
only time you should be looking
for a divergence watching the price
reverse in the opposite direction
i'm going to show you that divergence
one more time so you know exactly what
to be looking for
you can see these two lower lows being
formed
but if you look at the rsi we are
massively overextended on the downside
we get this low here at 15 and then the
next low that was created on us 30
even though the price action was going
down we saw an increase in the rsi
showing a divergence so on the rsi we're
making higher lows
and on the price action we're making
lower lows that is a clear divergence
and this is when you should be looking
for the price to go the opposite
direction and when that starts happening
and you start seeing these long wicks
and bullish candles you're going to be
targeting these
subsequent moving averages above and
that's pretty much it that's how i sit
at home
scalping like i put my daughter to sleep
and then i get on my phone and i look at
the price action
if i see it moving i'm scalping i'm
looking at the rsi
i'm looking at the price as it crosses
through the moving averages
and that's it so if you guys are still
watching this video guess what
that means that you like the video so if
you wouldn't mind click the like button
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in the next video