good evening traders at samurai trade welcome to a recap of the FX market I've
just come back from running a trader's boot camp where we were doing live
trading for three days and we just covered some really interesting facts
that I just thought I'd quickly cover and record for some of the traders that
were present at our bootcamp now a couple of things air of course by
subscribing to my youtube channel will be kept up to date with some of the best
world's best trading strategies totally free of course when you want if you want
coaching and one-on-one work of course then there is a fee I charge two hundred
ninety seven dollars per hour for that many of my professional traders only
need one hour and there are away so we're going to cover a lot so moving on
I should say moving on very very quickly here's what I discovered some years ago
I've now trained hundreds of traders and I deal with probably around 20 traders
every week either existing clients or new clients or those that some are
giving one off one training with others that I do on a regular basis and this is
something like to quickly talk about because it's really relevant to when it
comes to trading one of the biggest challenges I face as a trading coach is
dealing with the psychological damage caused by previous trading endeavors now
have I lost it you may be thinking come on so my what what's what are you
talking about here well one of the greatest challenges I have in dealing
with experienced traders or those that may have blown their account one two
three five times is that they have a set mindset and they become psychologically
damaged that is when i go to pull the trigger or in being open-minded enough
to look at a new setup whatever they tend to be really closed minded if
you've blown your account a number of times if you been trading for a period
of time you know making the money that you wish to be making or expect to make
you need to wipe the slate clean and go back and start again now as an example
we're about to go through four or five different trade setup
that we trade on the FX markets now one of the challenges I have a new if you've
watched the number of my youtube videos you'll hear me talk about this is that
very very important you start off and you master and you own one trade setup
remember trading gives you financial security for life if you master it
however what we do know is that over ninety two percent of traders fail
because of greed because of impatience because of lack of discipline are a huge
one and we just saw this the last few days is some of the traders in the boot
camp continually wanted to counter trend trade and that's a real issue because
when we look at many of my clients that lose their accounts and lose money it's
because he counter trend trading and moving their stops betrayed in four or
five people or different sorry I just had a trade setup alone we're trading
four or five different trade setups without having mastered one etc so how
do we create how do we turn you into a professional trader well this is
something I want to I've got up on screen is that every professional was
once an amateur every master started out as an apprentice I want you to go back
to school I want you to go back and find a trading a trend following trading
strategy that you feel comfortable with you know trading is not meant to be
exciting traders it's not we get impatient and we start to see things on
the screen that are just not there is it trading is a game a strategy what
changed my life is I become a sniper I become a trading sniper that is what I
want you to do see my passion for you is to change your trading results because
ninety percent of a traders I initially deal with have lost money or they're
losing money or they're brand new and if you're a brand new trader I'm going to
talk to you and train you about the sitting back and you're a sniper you
disciplined your patient you know you pray
and there was another key thing that come up on the on the boot camp how many
traders are still trading using four or five different screens they're tracking
multiple time frames multiple markets and they're a master of none and I don't
know if you've heard the old saying jack of all trades master of none but it's
really applicable so this wasn't meant to be a psychology session hence you can
just see I've just quickly put up a couple of slides here it's we're not
full screen on the slides but some really valid points I'm absolutely
committed to your success as a trader whether or not you come to me for
coaching or not what is really important for me is that you succeed I want you to
send me an email and tell me your success stories after you've watched the
training videos that I post of course if you're interested in my coaching
services please contact me directly now let's move on so let's move away from
your advertisement and let's get trading to for trading so let me just have a
look here so what we looking at today here is the euro dollar the FX market
the currency market we're looking at a 5 range chart 5 range I trade also the 8
range and the 13 range I personally like range charts many traders of course use
time-based charts there's all sorts of different types of charts you've got to
find a chart that you feel comfortable with just like trading the different
types of markets each market has its own personality for an example if I was to
flip over right now to the Aussie dollar us aussie dollar US dollar you'll see
it's totally different to the euro you'll get a lot more volatility etc but
the euros got fantastic volume now if we have a look here we've seen that the
euro dollar of course has been in a fairly steep free for the last week and
there's fantastic trading opportunities there but what I still saw at the boot
camp was in strong downward trends among traders because of the
patterns that appear on the on the screens trader counter trend trade for
an example if we look at this little pattern here now remember what trading
is really about it's about a pattern solving exercise that's really what
we're looking for traders we're looking for patterns in the market the market
has a memory and patterns repeat themselves every single day now let's
look at a pattern that fails more times than it wins in my opinion that's this
one here a counter trend trade and this is something that traders were doing
continually if you're not ringing the cash register profitably I can almost
guarantee your counter trend trading on a regular basis or you're moving your
stops look at this one here okay we've got a higher low on the Platinum of
course we can see where a little kick up and it failed but look at this downtrend
we've got and we'll see this patterns all over place for counter trend trading
traders one of the things I'd like you to do if you're not making the money if
you're not achieving the financial goals but you wish to achieve stop your
counter trend trading right now all you can say but what about this little one
over here yes there's a good 12 14 ticks after the spread in this particular move
remember these are five range candles here yes that's great but of course I'll
show you a ton of them that are filed look we've got a zero line cross right
here but was good for 7 ticks forget it traders run with the trend so let's have
a quick look at this here we've got a range of different types of trades on
this chart we've got t69's 18's 25's t1 and t2 so to quickly look at some of these
one of the qualifications for newer traders we always wait for is we can see
here we've got our zero lag im right here we wait for it to change to magenta
in a short so we can see here it's gone from cyan here's our entry as much as we
had a t2 which is a slingshot trade which is a fantastic trade setup of
course we can see how long term stochastic is oversold we've pulled back
we rolled over our newer traders would not have entered until this candle here
below this is a good 30 pip move for our
experienced traders you would have been in on this one because you're going for
a higher return on these trades of course part of me this is also a t25 set
up a t25 is where we have between two and five candles pull back then we get a
reversal candle back in the direction of the trend so at a t25 right here t25 to
your that's borderline t25 you're already in this trade anyway a t25 a t25
again so if we looked at this one you were still in even it had a little
double top with the trends here your t25 so one of the most profitable trade
you'll ever trade is you have 2 to 5 candle pull back a retracement and then you
continue with the trend here you the experienced traders were not waiting for
the zero lag now with the t25 of course you're also going to have a higher
profit target why because you're in up the close of this candle you're in there
you're in there you're enter the close of this one so you've got a higher
profit target so at times your win-loss so your winds may be down comparison to
your losses well i see winds down you're always going to be winning
70 or 80 percent but you also got a higher profit target now let me
just scroll along I just put a couple of comments here now one of the things that
it's a challenge for every trader is when do we know that we're in chopped
well there's of course many many indications to and then this is
something could I personally use once again traders I don't have all the
answers I've been trading now for over 20 years I've fortunately I've had
research teams work for me I'm currently working with two brilliant guys out of
the US. absolutely John Seely one of the best traders that I know of and
programmers and another gentleman called Tom Brown and you know I've just got
access to these fantastic resources some very very talented people
but getting back to the point here this is something that i use and of course
all of us talk to talk to Tom and John they both use different things so we all
have indications that or indicators that we like to use so notice here my channel
here is going sideways and my zero lag is basically caught within the channel
along with this dark blue line is called my is called the trigger line now notice
here also down the bottom here the long-term stochastic aside ways or
instead of being oversold or overbought it's traveling so this is a really good
indication that we're in truck and chop so you want to be very very careful but
one of the key points I wanted to bring up here you can see the paint bar the
kiss appearing these are the super scalper but t1's and trading with
the trend it's there an absolute winner all right now if we look here we've had
a pullback once again we go into a bit of chopped we've had a little bit of
divergence here but if you also look at here at and I'm gonna have to go
and do take the could traders on just kind of put you on hold because I just
got to put a trade on I'll just be one moment okay traders thank you have to
get the trade on so we can see here the hour our sign line here is our 89 EMA
and let me just move it back one so you'll get bounces and that's another
great thing about forex if we say compare the forex market compared said
trading the e-mini you get a lot of false breakouts on the e-Mini because of
a floor traders you get a lot of false breakouts you tend to find of course
that with Forex it'll trend a lot more often but you want to get to know as I
mentioned earlier the personality because every forex pare different and
has a different set of behaviors so we can see here we've got just some
fantastic trends here happening on the euro dollar particularly and once again
as I mentioned earlier I love the range charts he owed we can see here t1 a
little double top here t 1 double top t1 etc so getting back to this here that
the forex market trends beautifully yes we can say look here's a nice counter
trend trade that one worked but many of them fail and recapping some of the key
points is it make sure in your business plan your trading plan that you've got
very very firm ideas very firm target on your stops what is your stop what is
your target remember stick to trading plan traders I have to go because I've
got this trade happening a few things happening there so opposes some on
YouTube now but we can just see here that euro dollars is a fantastic market
to trend trader really is up before I go one more thing I gotta mention but t69
the t69 is the break of the channel and I just starts or an email as a reminder
so we can see here my 21 EMA channel when we break the channel I have an
entry signal but I prefer to follow it with the trend so I had an entry just
here a break of a channel break of a channel we pull back your stool to being
in this channel this trade sorry another break now of course an added
confirmation of a t69 is what is the zero lag doing so we can see here a zero
lag is also confirmed the break of a channel so you're in you didn't answer
until this one here you stop was above here likewise here you stop is up here
the t69 is a highly accurate trend following strategy here here here I want
to see a decent pullback you were still in that trade anyway here it is again
once again you already would have been in this one because your 89 bounce and
little just notice these here's a 200 bounce here's an 89 bounced here's an 89
here's an 89 do I have to go on these 89 bounces almost an 89 and a 200 bounce
they provide fantastic support and resistance another 89 200 bounce here's
one here so trade is and this is also a t2 hope
this has been useful sorry if I've covered a lot of information and I'll
see you on my next video