hello traders its a samurai trade here welcome to my recap video and in this
video we're going to be exploring a number of the trade setups from the day
traders fast-track program and how we target four hundred dollars a day per
contract now if you're new to my videos if I could ask you to please read the
disclaimer in full that would be great required by the CFTC so in this video
we're going to be exploring trading Forex the difference between range
candles vs tick candles and I'm also going to do a quick review of some of
today's trading that we had on the NQ 133 tick now I had a student I was
training live today and he said to me I make it look so easy well traders I be
doing this now for over 23 years and three skills that I finally learned
after many many years of trying to day trade profitably was discipline patience
and focus if the setup just doesn't look right don't take it just sit back and
wait now I know I've already got a lot of experienced traders watching this
please watch this video to the end because you know one of the challenges
when it comes down to discipline patience and focus many of us we don't
want to hear this message we don't want to hear the sphere psychological side of
trading but traders as I preach continually that trading is five percent
money management five percent the trading strategy and a massive ninety
percent head stuff psychology so what's really important is that you must master
discipline patience and focus and you do that through at least two hours a day is
sim trading that is if you're brand new trader and even if you're an experienced
trader if you if trading is not making money for you up to now if you've been
finding trading difficult up till now you need to go back to the simulator and
you need to practice developing discipline focus and patience and all of
those likes like muscles the more often we use them the better we
become at them and if you look at my age and we all need an edge in trading the
edge that I give you is brilliant trading strategies now what it comes
down to that in applying those strategies you still need to apply the
discipline patience and focus now for the newer traders that looking at the
charts for the first time and you may look at them and say while these look
difficult well I love this statement if we did all the things we are capable of
we would astound ourselves and it's true anyone can learn how to trade profitably
providing you apply discipline patience and focus that is a difficult part
traders in mastering that now if you haven't it just before we move to the
charts by the way if you haven't already done so please subscribe to my youtube
channel and if you go to my website on the bottom you can see my website
address there you can obtain my free ebook for truth about day trading and of
course a lot more details on my fast track program now it's now over 12 I've
actually got 13 trading strategies for day trading and swing trading so you can
obtain all of us one hundred ninety seven dollars and natural factors over
20 hours of recordings now in the course so let's now have a look at the first
thing I want to talk to you about is trading Forex the difference between
range bars and tick bars and tick in some ways which we can see on the right
there reminds me it is very very similar to time-based charts as far as the
volatility now personally I prefer a smooth looking chart so let me just show
you this as an example if we look at this is a range bar that is this is the
5 range or five pips per candle look how smooth that is now we can see we're an
incredible area of consolidation here and we'll talk about that in the moment
look our smoothies now this is from midnight now it's now one
12:48 in the afternoon here in Australia and so we've got over 12 hours and we
can see here that it's been pretty much going sideways for most of that time now
let's now go back and have a look at the tick now this is since 5am this
morning up till now and notice the difference in the way these candles are
formed now one thing it will give you it shows in some ways a lot of these little
which we trade we love these poor backs so you've got a bounce here you've got a
bouncy you got another trade here so you got a 34b another 34b down here
you've got a nice little pullback that's a t2 you've got another T2 just hear
that is actually a t2 as well so you've got tons of trades now personally I
prefer a smooth chart which is what I tend to find that a range chart on
trading Forex will give you now what about our trade setups you can see here
we didn't have anywhere near as many setups on the range chart as we did on
the tick chart now that was an t89 tick so it's a much lower timeframe so a lot of
people like to trade much higher time frames so it just depends on your
trading style now here of course some each one of these candles if you were
trading a stand a lot is worth fifty dollars us so you stop would be under
here under here under here and for many of these moves they've returned a good
one to one or better here you've got a nice t10 and so you can see here
even though you've gone into chop there's still plenty of trading
opportunities and what we're seeking of course is following the 34 which is a
magnet on virtually all time frames and all markets when you are above the 34
you stay long and when we're under we want to short the market there are other
things that we look for as well but they're that that's the main
consideration so if you want day trade if you want more trading
action you may even drop the time frame even lows so remember this is a 5 range
you might drop it down to a two or three range if you want more action however
what you have to be aware of and let me just try to find a news announcement
where are we here we can see there's some sort of announcement here look at
that move see it moves very quickly and that is one then compared to a
time-based chart a time-based chart at least you can tell when you've got the
the bar count on your screen when the candle is going to close it's more
obvious now on a tick you can tell when it's going to close however in a
fast-moving market as we saw here around this this was obviously a red flag
announcement and I'm sure what announcements stage you can see the
market really moves quickly so traders i perfer range over time and tick here you
might want to drop down if you're after a little more action and also remember
when you're trading a lower time frame or a lower range you'll stops a lower a
smaller so if we took this as an example here our stop loss here would be nearly
one hundred dollars on a standard lot which means if you're a two percent risk
you'd need a ten-thousand-dollar accounts now one great thing about
trading forex is you have of course standard lots of ten dollars you've got
a e-mini at a dollar a tick or a point people I should say and you've got micro
which is ten cents per per pip so you can drop down so if you don't have a
ten-thousand-dollar account you can trade for me if so if you add five
thousand dollars you might trade five mini lots or four mini lots if you've
only got a thousand dollars you might trade two or three micro lot so you've
got incredible flexibility our setups work incredibly well on forex and once
again we're using our eight the brown line there by the way is our trigger
line we've got there Oh al 89 and our 200 now let's quickly
go across and have a look at the 133 futures mark that is the NQ 133 now we
can see here that this is from the market open and this is actually from
about nine o'clock onwards you can see that trading against the trend
particularly when the market opens is like trying to catch a falling knife you
want to wait until the right time if you are a counter trend trader and for the
newer traders or for the traders that haven't been making money if you go back
and look at why you haven't been making money up till now how much you were
trading has been can of counter trend trading now sometimes some people may
think I'm a little aggressive with them or even grumpy or or really firm on what
I say when it comes to counter trend trading by the way I do counter trend
trade but I've been doing it a long time is that I dish out what I call tough
love if you're one of my students and if they could only speak now what I'm like
when we're doing live trading or we're doing it doesn't matter whether where
they are in the world will do it over skype and gotomeeting is it i'm really
tough on new traders because what's absolutely critical traders is it we
developed the right habits from day one remember habits will either make or
break you it's the little things in trading that make or break you so look
at these trend trades you would have been finished now I a trading within
this trend however I do want to say this this is some 30 minutes of trading and
that is moving really quickly so using market orders very very fast trading and
remember what are we following traders we're following the yellow line okay
that's our trend now we've got down here we got an 89 bounce and we've got some
200 bounces the markets starting to slow down such study become quite tradable 89
bounce 200 we're firing off left right and center but these are the areas where
you need to develop your skills sit around these because this is also
where the patience and focus and discipline come in and what I've done I
remove the channel and a few things off for chance just to make it easier like
you had a beautiful that was a great t89 just here and so look at these
bounces off the pivots and away we go so traders I'm going to wrap this video up
but when you follow the trend this is where the fortunes are made t2 t2 t2 t2
t2 another T2 another T2 thank you very much you know this is how you earn
your four hundred dollars a day now just before I finish up the lesson I covered
yesterday was the T23 now we can see here we've come down and we go across
there is a t23 right there here is your t20 the cross of the eight and a 34 or
if you're using the trigger line you could have been in on this candle rather
than that candle but look at these trends now when you get in a new trend
to begin with this is where on the NQ for example you can go and easily
capture your 21 ticks which is 105 dollars four of those a day you're on four
hundred dollars a day per contract this is where wealth is made now for the
students had follow me you know I'm a scalper and I scalp 14 ticks 12 to 14 ticks
each trade because I'm what they call a scalper however I recommend and I train
students in when you first get in on these ones go for 21 ticks remember you
will try your first trade your first one or two trades in a trend such as here
such as here this is where the fortunes are made such as here when you've got
your new setups such as here now what about this thing you may sell what about
this will you had a beautiful 200 bounce 200 bounce 200 bounce and on your
crossover you're in here where would if you're stopping and your closest swing
low but if we measure that up here what do
we got there six okay you've only got about 14 ticks but then you had another
one up here which usually go over your 21 ticks so traders that's a quick wrap-up
any questions please keep those emails coming in remember what the Vinci said
fix your eye upon a star and you can weather any storm in other words have a
goal in mind we use the simulator even though you might have to continually go
back and restart your 100 trades my job is your success coaches to work with you
in helping you become a master will class trader and we do that through
discipline focus and patience Thank You traders