if you actually want to become a
professional day trader to do this for a
living there are certain things that you
must do so in this video i'm gonna show
you what that thing is and you're
definitely not gonna like it
[Music]
welcome back to the channel everybody my
name's artie and this is the moving
average a show where we discuss
everything day trading to keep you
profitable when i actually started demo
trading and trading real money i made so
many mistakes along the way and i would
enter trades because that's the feeling
that i got there was really no structure
to what i was doing i was just kind of
entering closing taking profit letting
my stop losses go way beyond what i
thought they were going to like no stop
losses essentially 90 of the time i
would have these small accounts with
like 200 or 500 in it and then i would
enter a trade and i would like go to
sleep and wake up the next day the
account's gone because i didn't set a
stop loss like it was just pure and
utter chaos the reason why i did this is
because i was watching other youtube
videos and tutorials and strategies and
everything and i would see these people
taking small forex accounts and then
like in a day making like twelve hundred
dollars and so i wanted to emulate that
and so there was no structure to their
lot sizes their position sizes nothing
it was just enter on a whim and then
hold until you got a thousand bucks and
that's not the way to do it so let's
jump into the computer and i'm gonna
show you how in may trading one pair
i was able to generate six percent
profit on my account okay so you guys
have watched my videos you know my
trading style i have an overlay of the
21 period moving average the 50 period
and the 200 period moving average these
are smooth moving averages i like to
drop my support and resistance lines on
a higher time frame and then trade on a
lower time frame like the five minute or
the 15 minute i've been highly highly
addicted to the 15 minute lately because
the candles that form on the 15 minute
chart are stronger indicators than they
are on the five or the one minute so we
had the project launch on may 2nd so i
didn't really trade the first few days
because it was crazy but then starting
on may 5th i was like cool i'm gonna try
to do one trade a day which obviously
didn't work out because i had what one
two three four five six seven eight nine
traits i'm gonna go through all these
trades with you and why i entered and
why i didn't enter on some days
but i'm gonna save the secret sauce for
the end of this video because it's like
it's not the most highly searchable or
captivating title to a video actually
let's get into the secret sauce the
secret sauce of what i'm doing here is
proper risk management and journaling
your trades i know i keep telling you
guys this and i know 90 of you don't do
it but that is why more than 90 of you
are failing day in and day out at your
day trading so if you want me to show
you every single one of these trades and
how to journal them and how to be a
successful trader and how to make good
profits every single month consistently
leave a like on this video shameless
plug okay so this is my trading journal
for the month of may i do not trade
funded accounts because i cannot adhere
to their rules i've tried numerous times
but i either don't make enough profit in
a given month or
i do not trade enough within that month
usually they require ten trading days
obviously you can see here i only had
nine and my profit did not exceed ten
percent it only hit six percent i'm very
laissez faire with my day trading if i
don't see an entry i don't trade that
day i go ride my bikes so may 5th i
always trade london session because
that's the time that i'm in the office
and i'm working we had a rejection off
of a support and resistance line it is 8
a.m i got a three line strike three bars
up one big engulfing down i was like
cool it's probably gonna go towards the
200 the next support and resistance line
is right here what's my risk to reward
20 pip stop loss 40 pip take profit take
the trade it was successful just like
any scientist or anybody proving a
certain thing in order to get statistics
you must track everything so on this
training journal which is absolutely
phenomenal and way better than the pile
of crap that i was doing earlier because
i'm horrible at making my own excel
spreadsheets but you get to select the
pair through a drop down menu right here
you have every single currency pair as
well as indices gold oil and some
cryptocurrencies so you select your pair
you select your session you select the
date and then you select whether you
went long or short a buy position or a
sell position you enter your stop loss
in here once the trade plays out like
set the trade and then let it play out
once it plays out you select here
whether it was a win loss or break even
i like to stick to a one to two risk to
reward ratio i know some people like one
to one point five or one to four
whatever you do consistently just put
that in right here in the risk to reward
area and then never ever ever ever ever
risk more than one percent one percent
on my 50 000 account is 500 so if i lose
a trade i lose 500 bucks if i win a
trade i make a thousand bucks give or
take with spreads and commissions once
you enter in your stop loss here your
take profit will automatically be
calculated because you're doing a one to
two risk to reward ratio the reason i
said i had approximately a six percent
gain is because these numbers are not
exact for example this trade right here
uh the total win was one thousand and
seventeen dollars and 48 cents but with
commissions on the trade which was a 2.4
lot size and my broker charges seven
dollars per lot it was 17
and 8 cents commission on that trade
which netted me 1 000 and forty cents so
it's a little bit different but this
will give me a general overview then
this automatically populates whether you
entered win or lose each time you win
you get two each time you lose you minus
one and then right here you drop a link
from trading view you see this little
camera icon right here every time you
are looking at your screen you can click
that camera button and copy link to the
chart image that gives you a link to
exactly what you're seeing here so when
i click on that link i see exactly what
that trade looked like and it gives me a
visual representation of my wins and my
losses i did not trade on the sixth
because i do not like trading nfp i did
not trade on the ninth because we were
already very far away from the 200 and i
felt uncertain about it i did not trade
on the 11th because i wanted this candle
right here but i was not in the office
at 5 45 a.m i was waiting for another
rejection off of this 21 assuming that
it would go up towards this support and
resistance level and towards the 21.
waited till like 9 or 10 what was that
nine but i did not reject off of that
and so i did not want to force a trade
and i just got to work on something else
next day may 11th looking left i can see
a double bottom probably going up to
this next support and resistance level
and exactly at 8am we got a nice
engulfing candle rejection put my stop
loss on that trend line which was also a
swoop up of these two moving averages
the 21 and the 50 took my one to two did
not trade the next day because of how
far we were away from the 200 period
moving average and we're literally in
the middle of a support and resistance
area and i was like nope not doing it
next day same formation as before
swooping up in the moving averages
moving up to the 200 and the sport and
resistance level
a one to two didn't even get me to that
level so i took the trade and i lost it
minus one percent good job artie i did
not trade this day because moving
averages were crossing over i don't like
the spaghetti bowl so no thanks next day
nice strong consistent trend looking to
target this next support and resistance
area took a quick scalp and thankfully
it played out the reason i took this
trade a lot of the times i like it to
reject off of the 21 but if the trend is
that strong i know that this is like the
seven or the ten period moving average
and so i knew it had some momentum this
was more risky than i prefer but i took
it next day 8 a.m i saw this huge fat
engulfing candle reject off of this
support line and i was like okay next
engulfing candle that i get off of that
area i'm taking that trade took this one
12 pip stop loss 23 pip take profit did
not trade this day because this is way
too much noise for me the next day may
20th we got a rejection off of this
support and resistance level as well as
the 21. didn't see that one but i did
see the next one took the trade and got
the w next day uptrend continued figured
it would go towards this support and
resistance level lost the trade minus
one percent next day swooping down
moving towards the 200 period moving
average took the short position assuming
it would at least hit here and lost
again another loss i mean we were
seriously just in a period of
consolidation right there it was
irritating as hell when i get irritated
at trades not playing out or price
consolidating i pretty much stopped
trading and so that's when i stopped
trading for the month i was happy with
my results and i had other [ __ ] to do
but essentially it was important for me
to know that every single trade had a
reason for entry and i had screenshots
of every single one of these trades on
the trading journal what date i took it
how many pips my stop-loss was whether i
won or lost and what my results are if
you don't have this consistency in your
day trading you are not going to be
successful the nice thing about having
these screenshots is that you can look
at your losing trades and see post-trade
what you missed in your analysis so for
example this one let's take a look at it
i went in on a long position assuming it
was going to go towards this next
support and resistance area but the
thing that i didn't realize was that
there was no momentum going on here
we're getting this wishy-washy like flat
line of the moving averages so there's
no momentum meaning that there's no
volume and right here i completely
missed this double top double top
probably gonna go back down but instead
i went with the trend and i failed being
able to see this and analyze your losses
after the fact is going to help you over
time prevent making those same stupid
mistakes and as you can see i still make
stupid mistakes
but i know that for the month of may my
win rate was fifty five point five six
percent i was able to gain six percent
on my account which is three thousand
dollars three thousand dollars in a
month just from trading nine times i
mean this isn't that much work guys i
was maybe on the charts like an hour and
a half a day if i lived in america or
somewhere where the currency was
stronger you know i'd probably hustle a
little bit harder to make more money but
3 000 us dollars converted into polish
currency is like a crazy good livable
wage plus i have multiple streams of
income so trading is more of like
just make money for vacations type of
thing for me so for all of you guys that
are looking for that 80 90 100 win rate
strategy you're wasting your time you
can make profit and be a profitable
successful professional day trader with
a 55 win rate and trading casually
waiting for those good entries and
having specific rules or just knowing
all of the [ __ ] that i teach on this
youtube channel essentially i highly
suggest that you use a trading journal
if you do not use a trading journal and
you're not tracking your trades you will
consistently lose you will consistently
get out of your trades early you will
consistently keep moving your stop loss
getting you farther and farther in the
hole if you are not tracking your trades
it's not the strategy it's not the
market it's you i got two options for
you take a screenshot of this and try to
emulate it as best as you can on excel
this is free have it take a screenshot
write down every single one of your
trades if you can figure out the
formulas by yourself go for it if you
want a copy of this exact thing it is a
part of the membership for the trading
floor which is a project that we
launched on may 2nd on the website once
you sign up in the get smarter section
there are a bunch of resources right
here and the trading journal is right
here you just click to download that
save it and title it whatever you want
mine is artie's journal i really want to
make you guys profitable and the only
way for me to get you there is for you
to do this be a professional write down
everything get statistics be consistent
be a machine do not change your stop
loss and take profit enter your trade
let it play out journal it then learn
from your mistakes and stop doing them
and if you guys want to learn more about
the strategy that i showed in this video
you can watch this video right here and
if you guys enjoyed this video and got
some value out of it make sure you're
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subscribe if you have not already thanks
so much for watching and we will see you
in the next one