How to Grow a Small Forex Account | Phoenix Fx Trading
what's up youtube family it's your boy king abe forex here and in today's video i'm going to be sharing with you guys an amazing strategy that you guys can use to grow your account fast that's the strategy i'm going to be showing you guys in today's video so without further ado let's take a look at the charts and let's get this video started alright guys so in today's video i want you guys to understand that by the end of this video i'm going to be sharing with you guys a spreadsheet that you guys can use for this strategy and be able to go and compound your account fast now looking at this time frame here we're looking at the four hour time frame now the reason why we only for our time thing is because we need to make sure we're following the trend we need to understand and identify the overall trend even though we're going to be taking our positions on the lower time frame in this case we're going to be taking our positions on the 15-minute time frame so now we're going to take a look at two examples each two by examples and two examples each now the first example we're going to look at we're going to start with this most recent bar position here then we're going to take a look at another by example now the thing with the things we're going to do here is we're going to identify our support and resistance zones now if we look at this here looking at this on the four hour time frame we can see that we clearly in an uptrend so we can go back to the four hour time up to the h1 timeframe which is the one hour time frame and you can see clearly that we absolutely in an uptrend so now that we've identified the trend we know that we only need to be looking for by position so we're looking to take by positions so we can see here that we had a previous resistance here to the left and it became a resistance here on the right as well resistance here and previously resistance here to the left hand side now we can also see that we had a support zone here to the right and if i move this all the way we can also see that we had previous support zones to the left-hand side as well we got support here and we got support here as well and became support here to the right as well now that we've identified our zones now we can go to the 15 minute time frame here and what we're going to do here is before you take any positions at all it doesn't matter if you're trying to take a buy position or a sell position now we need price to break and close above our resistance zones now there are two ways you can get in a position you can either get in after the break and close which is the breakout strategy or you can wait for a break and we test then you get in your position now in this case we cannot get in after we can close because if you do that then you're going to have a huge stop loss here we're looking at about 50 to 55 peeps stop loss here that's too huge and we stop loss now but what you can do in this case you wait for a pull back and if there's no pullback well you just gotta wait until you get the pull back or you look for another pair to trade and when you're using this strategy i recommend you only use you only trade one to two pairs so look for one to two pairs that you love trading and that's it do not trade more than two pairs now in this case we have a break above our resistance zone we wait for a pullback now waiting for a pullback for an engulfing candle here then we get in here at this angle bullish engulfing can do here now in this case i can have my stop loss right below this load that price created now instead of me having 50 pip stop loss now i have 20 to 25 peep stop loss i mean that's way better than 50 pips right now now that i've had my entry and using this strategy the goal is to get 10 to 20 pips a day you're only trying to compound your income but at the same time always always live in runner even though sometimes you're not going to get a run out but i promise you most of the time if you leave your honor you always gonna be able to make more money than you would have made if you were just looking to get 10 to 20 pips and you're out of the trade now that we have our entry what are we going to do about our tp now we have our 20 pip stop loss here i mean i have 20 pips now what i do is instead of me targeting 20 pips i usually target 25 pips here on trading view because of the broker's spread so i leave a little bit of room to be able to have exactly 20 pips by the time i take pressure profit or you know the trade eats my tp so now we have 25 pips here you'll see there's 20 pips so now but for our take profit target all we have to do here is to go back to the four hour timeframe and i see that i could just target this zone here i could target that zone there and at the same time i could also target the zone here if i'm looking for more take profit now i'm anticipating that price is eventually going to get back to this previous resistance zone here to be left looking here at the four hour time frame now i can go back to the 15 minute time frame i can go back to the 15 minute time frame here and my 20 pips has been smashed already guess what now i'll move my stops to entry stops has been moved to entry now i have my tp here my tp here was for 38 pips my tp was smashed guess what i have a runner already now i can take another partial profit if i want to or i can just let it keep running and here the final tp here we're looking at 84 pips here now guess what now now that you have 84 pips i'm not saying you have to close that between all what you need to do is you can take partial profit as well if you want to but while you do that make sure you move your tp you wait for price to create another loan then you move your tp i mean your stop loss right there to that lower we can see we if we move that stop loss here we would have moved into this low here and we just leave a runner and just look at this thing if you have left to runner i mean you're saying eventually god stopped out here you got stopped out here because price created another low here you're looking at 105 pips that you actually caught because if you look here you would have moved your stop loss to this law here and then you would have been stopped out so all together you actually got you all together you were able to get let me delete this all together for this three we were able to get you let's see here all together for these three we were able to get you 103 pips so let's just see 100 pips just look at that you eventually get 100 pips instead of you getting 10 to 20 pips so this is how you'll be able to compound and grow your account fast so let's go back to the four hour time fee and let me show you guys one more by examples i'll show you one more by example i'm trying not to make this video too long so here we do the same thing we can see that we have a previous resistance here previous resistance here so we had support we had support here support became resistance then it became resistance here again as well and we can also see that we have a previous support here we have the previous support here previous support and we had a previous support here so now that you've identified your zones now we can go to the 15 look for that zone we look for that zone and here we found the zone now what we can do here is the same thing now the effects is output that i showed you guys now we have a break and close above our resistance now what we're going to do here now we can have our back position right here stop loss is just going to be right below our zone here we have stop-loss right below our zone there we're looking at 20 to 25 pips right there and we have which i get 25 pips even though we're looking at 20 piece but for broker for the sake of the broker's spread i like to leave no room and here we have our 25 pips matched but we always want to leave another now we have that smash with two personal profits we move stops to entry now stops having as we move to entry now we go to the h4 we go to the h4 to look for a potential take profit target and in this case i could target the special support zone here i could simply target this previous support zone here and i could i get this previous resistance zone here as well you target this previous resistance zone as well which will support initially and became resistance and i could also target this you know resistance here if i want to you know and so on and so forth now we go back to the 15 minute so we go back to the 15 minute now we already secured 20 pips and we trying to leave your runner and we have this first tp here which was smashed looking at 58 pips here now you have that you took my partial profit or you made between one now you wait for price to create a low and the low was created here you move your stop loss to this new move here and you just simply let the trade run you just simply let the trade around and here if we look at this now we have business target right here now this next target here we can see that this nice target actually two days this next target here actually two days as you guys can see now you have your low here you wait for price to create another low you move your new stop loss to this low that price actually created so you move your new stop loss here and now you're just still in a risk free trade and you've actually made more money and you're just simply waiting for price to finally hit your um eat your tp and here price eat your tp as well and if you you know if you still want to be in the trade you move your tp to the next profit we're looking at 187 pips all together and you move your stop loss to the nest no so this is how you do it guys you just keep training your stop-loss you're trying to ride the train till the wheels falls off that's all you're trying to do so in this in this uh one here instead of you getting just 10 to 20 people you eventually got 187 pips so guys now i'm going to show you guys a cell example i'm going to show you guys a cell example i think i'm just going to show you guys one more cell example is the same process i don't want to make this video too long so now what we need to look for is to identify the trend and we can see that we absolutely in a downtrend looking at this trend line here so now what we're going to do is to look for our support and resistance zones so we go here we can see where we previously had a support here we can see that we have a support right there that was initially a resistance zone if we look at this to the left hand side we can see it was initially a resistance zone right there and we all have this uh here that you can mark if you want to and we also have this resistance zone here as well as you guys can see so now that we've identified your zones now it's time for us to go to the 15 minute time frame so we go to the 15 minute time frame here and we just look for that zone real quick and we'll be able to take our cell position all right so we have this zone right here now we what we're going to do here is that we're simply ready for price to break and close below our support zone that we marked on the for our time frame and here we have the break and close so we can get in right here and this being which can do so we'll get in at that beverage candy right there and guess what we have our stop-loss above this zoom here we're looking at 20 24 pips here and for our take profit obviously before that we have 20 pips that we're trying to target now we have our 20 pips matched here now what we're going to do is going to go back to the four-hour time frame just to look for a potential take profit target that we can actually target and looking at this here i see that i can actually target this zone here i can target this zone here i can also target this zone here because we can see that we have support zones right over there so i can target this zone here as well and if i need more more zones i can simply also target this support zone right over here looking at this to the left hand side so now we're going to go back to the 15 minute time frame here we're gonna go back to the 15 minute time frame and we just simply look for that zone there it is so we have our 20 pips matched here now we move stops to entry now we may rescue trade and we took partial profit as well and our tp which was right here was all together 58 pips we have 58 pips here now in this case once your tpe once your tp gets matched take another another personal profit or you can get out between if you want to at least you still got more than 20 pips but in this case we can see the price pulled back and did what we eventually got stopped out here now now that that happened you had an opportunity to get in again because here we can see what we had was a break here price came down pulled back to the previous support zone created a resistance here and guess what if you want to get in again you actually would have been able to get in this trade right over here now what are you going to do you're going to move your stops above this zone here you will put your stops above the zone there and guess what you target your 20 pips you target your 20 pips 20 pips were smashed here now you move your stops to break even you have your tp here tp gloss match you're looking at 50 pips here and guess what you now you can move your stop loss right over here because now price created this low so price created this low right over here so since we have price created creating this law here our stop-loss will be there and now we're gonna have another target here now we definitely gonna make more money even if price pulls back but in this case first thing pull back we can see price button gets all the way down here and all together we have 102 pips we eventually won 102 pips here and previously you actually won 50 pips as well all together you had to on your tapes all together so guys this is exactly how you guys can use this strategy to grow and compound your account so now let me show you the spreadsheet i was talking about now this is this project i'm talking about you start from fifty dollars as you're starting balance and you just simply have everything you need and god willing this should only take you 46 days no you know we also have the weekend and stuff and i'm not saying this is going to be a smooth ride you're going to just win every single trade is impossible but by you not over leveraging and not over risking you will still be able to compound your account and google your account size and everything you need is just right over here the only thing that's not here is your stop-loss because i decided to leave that leave that to you some of you be looking for 10 15 pips or 20 pips stop loss so i left that email for you guys stop loss that's gonna be your decision and your account size risk is just one percent that's all you're risking you can see here fifty dollars one percent of fifty dollars that's fifty cents so that's gonna be your first note size if you have a fifty dollar account so all you have to do is just follow this spreadsheet and use this spreadsheet to compound your account this is actually 20 uh 20 pips or profit here that's all you will target if all you get is 20 pips then just call it a day and then sometimes you might be able to get 20 pips using this strategy that i just showed you earlier just follow the same exact process i hope you guys find value in that video if you found value that in that video make sure you give this video a thumbs up smash the subscribe button and turn on the bell notification so you guys don't miss any of my future videos and if you want to be part of my live stream daily new york sessions live streams consider subscribing and give this video a thumbs up as well thank you guys for watching i'll see you guys at the top because the bottom is way too crowded i'll see you guys in my next video peace and love.
2022-03-29 05:43
