Live Forex Trading + Q&A
foreign yo what up good morning everybody it is june 8th today is my wife's birthday so i gotta go home after this live stream we're gonna spend the day having some fun not eating cake because we're both on diets i don't know maybe some salmon all right let's see how many people we got on here um let me know first if you guys can hear me and see me that would be appreciated in the chat um and then where are you watching from i want to know what country my peeps are from and if you have not already there are 110 concurrent viewers on this live stream and 24 likes so if you could make that ratio even evener is that even a word i don't know anyway i got my coffee i desperately desperately need it today yeah dude almost 30 000 subs like this is crazy to me because i looked back at the dates and on may 6th i had hit a thousand subscribers and i remember this because i have a picture of me drinking a beer celebrating that i hit a thousand subscribers that was one month and two days ago currently we're at 28 174 subscribers which blows my mind you guys are freaking awesome and i just wanna like express my gratitude for you guys just like latching on to me drew starting the day off with a dollar i am a happy camper now thank you drew um cool jesus you guys are from everywhere all right we got the philippines india mexico italy new zealand ontario oregon usa mars oh mars i got something about elon musk today yeah that's that's a hot topic uh bahamas florida malaysia trinidad india nice welcome welcome my global audience um as you guys know i've been working on making these videos in your native language because i know not everybody speaks english and if they do it's not like to the fluency level that they would prefer so i really really like it's a huge undertaking but i really want to get each video in another language at least the top 10 like globally spoken languages thanks again drew you're you're a badass bro um yeah so that's a huge project that i'm working on but in the meantime i will be putting every language subtitles on my current videos um they may be a little bit off because they're gonna be through the auto translation that youtube offers i just need to go in and set each language individually which is going to take some time but it'll give you i don't know more readability or understandability to the content which is what i'm trying to get to i'm trying to get to the point where all of you guys can understand this clearly and if you don't the rest of it can be taken care of in the community on the discord group so um if you guys have not already please it helps a lot more than you think just click the little button that has a thumbs up like the live stream youtube algorithm approved dude i'm gonna give it a couple of more seconds for some people to join up because the number is still growing but last night i was ready to go to bed at 12 30 and i was like this is the latest i'm gonna stay up i'm absolutely exhausted just you know finishing up a few things here and there approving some comments and uh thank you silver master studio um so right as i was falling asleep like i could feel myself just like swooping into dreamland my daughter starts crying and it was the beginning of a catastrophe like she was up until about 3 a.m crying non-stop and i had to like walk and hold her and she's like crying and then i tried to lay her down when she started to like fall asleep and she she wasn't having it so we had to like walk around my arms were literally on fire my muscles couldn't hold her up anymore she's like 16 kilos now and man it was bad i eventually like she eventually fell asleep but i couldn't put her down i had to lay on my back with her on me and so i've gotten less than three hours of sleep i think two hours and 38 minutes of sleep i'm on so coffee is much needed okay um one more thing before we get our two more things actually um if you guys have not noticed the discord group has a new layout uh it's more user-friendly easily categorized we've put in some bots into place to like prevent messaging in the testimonials so that it's only screenshots a better verification system because my dm was exploding with that a new welcome note like everything has been revamped on the server and i want to thank the admin team because they absolutely crushed this project the server looks so much better now than the pile of garbage that i had made previously so thank you to each and every one of the admin um they're there for you guys and also remember that they're just doing this because they want to like they're involved there's no we're just a community and they're the people that have taken charge and it's it's amazing so give them a big thanks guys um the second thing that i want to talk about elon musk um elon musk he his twitter has like made thousands upon thousands upon thousands of people lose a lot of money um yeah parenting is tough silver master studio i like your logo um come on right through the veins so in regards to tesla and his stock and you know the sec um the securities and exchange commission like there is a lot of regulation on ceos especially those with a huge following like he has and their ability to sway the market depending on what they say they are influencers because they have such a big influential following so legally um elon cannot tweet about tesla stock or you know something about tesla in a good or bad manner to manipulate the price whether it goes up or down so that's seriously highly regulated all that goes across the board for every company for every ceo everybody that has influence on that that owns that company or is involved with it financially and but because cryptocurrencies are completely unregulated he can tweet all he wants on crypto and move the price as he sees fit because there's nobody to you know slap him on the wrist for it and that's been a huge benefit of the sec you know that's why there's regulations in place but we as the global community we can't do anything to prevent people like elon from really just screwing everybody over like he just did and so if you guys have not seen the chat in the crypto channel on the discord group um i posted a link uh the hacktivist group anonymous basically the most genius smartest people hackers in the world with a cause released a video talking about elon's behavior and at the end of the video they're like this message to elon musk we are anonymous and we are watching and literally like if i was elon and i saw that video from that group i would immediately clear my browser history and then my pants because that is a group that you do not want to be messing with and basically they're taking the role of the sec and they just gave him a slap on the wrist and they're like look bro you can't just keep doing what you're doing so i would expect elon's tweets to be less impactful and or less frequent in regards to cryptocurrencies so we shall see what happens with that but if you have not seen it yet go check out that video i linked it in the crypto group um yeah so drew as you can like they haven't done anything in a long time and for this to wake them up buddy watch out you you you uh you woke up the bear um cool cool cool cool cool awesome 287 people that's that's satisfactory to me um all right let's get into the charts and do some analysis change my face make it smaller boop and shrink me down i'm gonna put my face right here cool so um what i want to look at is two because you you guys have been asking um about my funded account thing that i started last week or whatever so here's the thing um i want you guys to 100 transparency see what's going on but i'm not recording myself doing these trades live because my schedule is so insane over the past month now with all the growth and the things that i'm working on and things that i'm doing and also being a dad i did not expect this much of a workload so the amount that i can trade is far less and i need to readjust my schedule so that i can trade more because with the funded account you need to trade at least 10 days in a trading month so out of the 20 trading days you have to trade half of them so i've been really slacking on that i've only actually traded two days and um i want to make this perfectly clear i am not the grand master wizard of trading i know a lot and my win rate is pretty high but i lose every day trader has losses i have losses all the gurus that you see on the internet have losses uh the people in our group have losses we all have losses and it's the determination of a good trader is how you handle those losses do you have proper risk management um and can you handle those losses can you handle them mentally or do they make you steer away from your already proven successful strategy and start looking for the next best thing and that's one of the biggest problems thank you silver master um i will do some showing scalping on indices um that's the biggest problem is people do the demo they're you know getting a good win rate the strategy works they start doing live they make one losing trade and they're like nope this doesn't work i gotta find something else i need a 100 win rate and it's just wrong it's never gonna happen so right now out of two trades that i've done on my funded account both are losses so currently i'm at a 100 lose rate you know and that's that's the name of the game but because i have proper risk management and i'm only risking one percent per trade i'm only down two percent and that's okay because that's the longevity of it like you need to stay consistent so i'm gonna make more time and restructure my schedules that i have more time to trade because i gotta you know hit the requirements um also another uh misconception that people have been having from my video that i did on how to get a funded account or whatever people are saying the ftmo is better or i should have done the challenge the issue with the challenge is that i'm constrained like there was multiple layers behind it i made a decision based on myself and my trading behavior not you know to go viral on my ftmo challenge or whatever so i didn't want to do the challenge because i know that my schedule is messed up and for me to be able to have the time and consistency and do this right long term there's no time limit on the funded account that i got i can slowly work on it and build it up as opposed to being pressured by a clock saying i need to accomplish this goal in you know one month or whatever and then a verification like that does not work with my schedule and i know that which is why i did not go with that and it's all personal preference if you want a 25 000 account cool go for it if you want to do the challenge cool go for it whatever works best for your schedule is the thing that you should do this works best with my schedule as you can obviously see i only traded twice since i've gotten that account um cool i want to talk about my two losing trades um i'm going to try to i'm going to get rid of all these markups this was from the previous video if you did not see that previous video that i just posted about uh liquidity pools dude it is a game changer if you're really struggling with the stop hunt or you know market manipulation or whatever that it explains everything so i traded uh nfp which i told all of you guys not to do because it's dangerous and i felt comfortable enough with it dude silver master studio do not give me all of your money um i'm also waiting to open my 100k funded account but i still want to make sure i pick the right type of account we're going to go over it a little bit in this video because yeah i just explained it briefly but i really want to get into it because a lot of people don't know which one to choose or why so it definitely is dependent on you individual preference um beeswax sorry i didn't get to charge my phone last night so i just remembered to do that um okay i traded nfp because i i'm comfortable with trading i know that if there's huge rips like i'll be safe because i got a nice stop loss but essentially um do i have my phone this is my man purse it's called a fanny pack if you don't like it you guys have never used a fanny pack it is literally the most useful thing on earth as a dad and a human um cool so i did two trades on nfp uh that was what nfp was the fourth so let's get to the fourth right okay so what i was seeing during nfp was this i was trading us 30 i had this zone marked up and i even referenced reference this with colleagues you know traders that i trust and we were discussing this and this is what happened um [Music] ignore all of this this is what happened during nfp so this is what i was looking at this was the information that i was given on a one hour time frame and we had been range locked right here with a few spikes out of the range but always playing within this range now uh i do not like to trade the first candle of nfp because it is it's a sidewinder i mean it'll go one direction and pull back the opposite faster than you can blink your eyes and so i try to avoid it and i wait for you know a little bit of an understanding of like what direction the market's gonna go and how much um momentum there is behind it with the news the news was good but not as good as expected so i expected a spike up and a pullback but i didn't want to trade the opening candle so what i did was marked up this zone and i knew that if we broke out of this zone or you know rejected off of this zone i could still play in here so my goal was to counter trend trade i waited for the opening candle to hit we got this long rejection wick right here and i expected a scenario like this a rejection off of that previous resistance area with a pullback to the moving averages and so when i entered my trade it looked something like this i saw the wick and the rejection and so i placed my stop loss there and i kept or i placed my order there as it started to pull back and i kept my stop loss at a key level which was 34 700 but i pushed it up a little bit to 34 702 and my target was 570 which at that time was the 21 period moving average i expected rejection here let me get this zoomed in a little bit i expected a rejection here and then it to pull back and i was going to close here depending on the strength of that move as the 21 pulled up to it i would have adjusted my take profit if it you know hit that 21. and so i did my analysis here and this is what my trade looked like now let me break it down to the 15 minute which is where i was watching it um so that i wouldn't make any rash decisions i i tried not to watch it because um i don't want you should learn to set a trade and don't touch it if you made the mistake you got to sit on your hands and watch yourself make the full mistake you got to let it hit your stop-loss because that's the only way you're going to learn if you close trades early and then it eventually goes in your actual direction without hitting your stop-loss you're going to be punching yourself in the face so i saw the pullback here you know it came down and then it started to go up and at that point i immediately got worried and i was like cool shut the laptop don't look at it i'm hoping that my analysis was correct and it'll reject at that 700 level and then come back down to the moving averages before it continues its trend but it didn't do that so um let me show you on a lower time frame maybe okay right right here is where you would have gotten a williams fractal or whatever and this is also a three-line strike this is where i should have gotten out i could have still been or hold on sorry wrong because it already hit my stop-loss uh right here um this is where you would have seen a williams fractal and then it continued up and right here is where i was like cool i should just take my money and run but um i didn't because i wanted to stay consistent stay to my rules because if you don't have rules-based trading then you're just kind of flipping a coin um as i was watching this trade reverse up i knew it was going to get close to that 700 level and i was actually debating moving my stop-loss but again you have to stick to your rules otherwise you're not going to be consistent and then this ended up hitting my stop-loss which was a percent loss on the account um and that's what you get for counter trend trading i mean had i done the entry here i would have gotten that that win and then a rejection off the 21 but you know it just didn't have enough momentum at that time that's nfp man it's super it's it's a risky thing but i felt confident enough but you know it ended up being a loss the other trade that i did was on german 30 uh the previous monday that's not it that was from the last analysis hold on um remove drawings the other trade i did was on german 30 and that was monday so the 31st let's take it out to the hour may 31st cool um this is what happened i was watching the market happen this is open on the 31st um i had my zones marked up right previous levels of support and resistance blah blah blah you know all the stuff and basically i was seeing a break in market structure so price went up came down did not create a higher high started to come down creating a new downtrend coming up to retest this previous level right so this is a softer level and then came down at this point at this point right here is where i saw my entry opportunity um again i'm trying to catch the reversal but i'm waiting for i'm i'm doing a lot of waiting for the the moving averages to start swooping you guys have seen my trend reversal video right so as we come down right here let me remove the last few of these cool zoom this in a little bit so you guys can get a clear understanding of what i was seeing so the moving averages were starting to flatten out and starting to swoop down and as the price did that the price broke through the moving averages came up to retest it and reject it off so after this first rejection candle that was my entry point and then market open happened and it hit my stop loss for one percent but um i saw the the speed and momentum of it right so this is what my trade looked like i got in about i don't know halfway through this candle and then you know my stop-loss was whatever risking one percent and i was expecting to come down to the to the 200 moving average again this is why counter-trend trading is really like it's not smart trading with the trend is so much easier so once i saw the rejection i let the trade hit my stop loss and then immediately once it broke my stop loss what i did was enter another position going long with the trend it was never negative there was no drawdown on this trade and so um i was targeting this but it was such a runner that i let it go stepped away moved my stop loss to about here because i saw the runner and so i wanted a trailing stop loss at the 21 and then it came down and hit my stop loss here so i profited i don't know like point three of a percent off of the one percent loss so yeah essentially i'm down two percent but i just kept too tight of a trailing stop-loss once i got that far into profit i probably should have just taken that because it would have covered my one percent loss or whatever so i think this was my stop-loss area because it was the previous high level um and then it broke through that and it was just gonzo bro so full transparency on my funded account i am down two percent currently so a hundred thousand dollar account two percent is two thousand dollars because one percent is a thousand dollars so two trades down two percent but that's life you know i take the losses because i'm not emotional i did my analysis i thought it was right i was wrong i reacted on this one and got some of that money back but that's not revenge trading that's trading with the trend now that's a completely different analysis than my previous one because market conditions changed so i can adapt and still make an educated decision while moving you know my trailing stop loss so exactly silver master studio the trend is your friend like a hundred hundred hundred percent um for you guys that are saying that i look like a porn star that's freaking hilarious but i'm not as endowed as that man um cool so that's my two losing trades so there's two takeaways that you should learn from me because that's what we do we're a community we learn from our mistakes and we learn from other people's mistakes try not to counter trend trade trading with the trend is far easier and less stressful because you already know that the momentum is in that direction um so if you guys are new to the channel and you don't know any of this stuff i just want to do a quick breakdown of my indicators and how i run off of them um i have three smoothed moving averages not simple not exponential smoothed moving averages they are the 21 which is the white one the 50 which is the green one and the 200 which is the red one i like smooth moving averages because i find that the price respects them more the next thing that i use is an rsi relative strength index it's a built-in indicator it's free i like to change my settings um and style to be yeller second thickness no background delete the upper band middle band and create a solid line in the middle at the 50.
that way if we're above the 50 i'm looking for buys if we're below the 50 i'm looking for cells and as you can see right here we had rejected off of the 50 and we're coming down so that was my indication it's not it's not that i was counter trend trading blindly it's the fact that we were trading below the 50 and rejecting off of moving averages to the downside that was my entry for a trade and then it reversed on me tough it happens not every trade not every strategy is a hundred percent winner and that's the way it is um but you know once we started trading above the 50 i took that long position it's like clear to me that if we're above that 50 long positions if we're below that 50 short positions period plain and simple um now those are the two things that you primarily need the other thing that is going to help a little bit if you're if your eye isn't used to seeing engulfing candles is the engulfing candle indicator um it's in my favorites i'm just gonna type it engulf ing engulfing candle indicator by ramuno's and this just shows you a tight little arrow on candles that are engulfing um and it helps you like oh cool maybe the the price is going to move that way because engulfing candles are momentum moving candles and so these three things is basically how i trade that's it so if you guys have not seen my best times to trade video i literally go over every which way that i trade during any time frame during any market conditions whether it's you know not consolidation of course um but you know uptrend downtrend no matter what time of day which market session it it breaks down everything so if you guys are still behind on watching all the videos watch that one and master it i promise you you will be really good huge shout out to one of the members of this community he's a kid right super young if i had half the ambition that this kid has at his age when i was that young i'd be far better off than i am now and so i'm super proud of him i'm not going to say his name because i don't know if he wants to be public but like underage right doing demo and also trying his hand at an ftmo challenge and the kid just passed yesterday ten thousand dollars on the 100 000 account using the things that he's learned off of this and i'm i'm amazed that this kid has such discipline to do his trades stack uh positions like i saw his you know results and the trades that he took and he just did it right man like very very proud of you if you are watching you know you've been in my dm we've been chatting really proud of you bro um okay so the rest of the analysis that i want to do is kind of live on what the price is going to do for us 30 over this next week and what trades i'm going to be looking to take so i'm going to delete all of this actually i'm going to start fresh it's always best to remove all indicators and start fresh to get a clear perspective when you're marking up charts take it out to the one hour time frame and you're looking at key levels of support and resistance again we're still pretty ranged on us 30 but there are profits to be made here now what you want to do is draw up lines support and resistance levels on the tops and the bottoms of all of these things um you know areas where it's rejected a lot look it like literally it rejected here came down rejected here came down rejected here came down rejected here came down and what are we doing right now it rejected here and came down but you also have to keep in mind this area of consolidation um you know these are the the light zones that you're going to want to be targeting like right about there and then you change that color to something you know light and like one thickness and know that that's a level that you should keep an eye on so if we break past this zone you know this is going to be your next area and then if it breaks below that you know that this is your next area of the target and that's no indicator trading that's naked trading that's what these gurus teach you it's ridiculous man these gurus and their courses telling you like pay me two thousand dollars and i'll give you the secret sauce to everything and then they teach you this and i'm like are you kidding me you're like showing me support and resistance levels with a break in a trend line thanks jackoff this is what you're gonna get out of a course guys ninety percent of these courses that you're gonna buy they're gonna show you exactly this so don't waste your money on that okay i'm completely fine with paid indicators because a programmer spent hours and hours and hours developing you know a thing that gives you a clear and concise momentum movement indicator that's completely fine to me but if you're paying for a course this is what you're gonna get so you're welcome for your two thousand dollar course right there it happened in three minutes yeah he's not a kid anymore after that challenge he's now a man that was his rite of passage um so uh this is what i'm looking for right so now i put up my moving averages we are still in an uptrend so even if we come down here you know we were above the moving averages right are you seeing this and then we came down below the moving averages then we came up and then we used this 21 period moving average let me zoom it in so you guys can see this better and get rid of this we are now using this 21 period moving average as a level of resistance which also coincides with this line right here a previous level of major resistance and support so now we rejected off of that we passed through the 50 period moving average so right now on a one hour time frame i'm expecting us 30 to do something like this keep my stop loss right there and this is going to be my target anywhere up here again this is counter trend trading so if you guys are taking this trade be aware that i lost the last two counter trend trades that i took but this is a you know this is the scenario right now this is trading the current price action so as the price comes down you have to realize that the 200 period moving average is going to keep going up because we are still in an uptrend so you might have to adjust your take profit on this but i would wait for a clear pullback this don't take this trade guys do not take this trade this is just an example let me delete this so you don't get confused what i'm looking for right now so we tested the 21 broke through the 50 now i want the price to come up and test the 50 and get a nice fat rejection candle off of that and then i'm expecting to see something like this as it comes down to the 200 and then again an engulfing momentum move to the upside continuing that uptrend i don't think it's going to hit this zone which a lot of people are probably going to be targeting it's going to stick with the 200 period moving average so this is the scenario that i'm looking for for an entry point i'd wait a few hours to see what this does on the 50 line and if we get a nice rejection candle off of that 50 and what i would ideally like to see let me see if i could see anything in the past here um ideally what i would like to see off of the 50 is not something like this give you an example so something like this see how it rejected slightly creating this long wick off the 50 and then we got this big fat move i want to see something like this and then you know it might it might continue into a full trend reversal thanks bro like yeah most courses are garbage dude thank you guys for these super chats like they're freaking awesome they make me really smile um you know and that that's what you're learning in courses just solid you know this is how the banks trade you know no that's how the banks trade it's major support and resistance levels i talked about it in my previous video with liquidity zones like come on it's not some secret bro quit selling it um yeah so this is what i'm looking for on us 30 german 30 is probably going to look exactly the same you know right now we're still super super bullish momentum uh we broke through the 21 but you can see it's done that numerous times here we've created these long wicks uh let's see what it does here on the 21 now because right now we're passing above it but if it does start breaking through you know just look at the rsi if it's starting to get oversold below the 50 line you know you might be thinking about a downtrend but right now this looks still good for long positions to me man going with the trend look at it it's it's strong for sure um this little head and shoulders pattern you know keep that in mind also i'm going to be going over a head and shoulders i'm going to do a whole head and shoulders video while i shampoo my hair with head and shoulders but yeah right now like i'm not seeing full confirmations because i'm not breaking it down to a lower time frame um what about double tops and other chart patterns i've already done a video on double tops super easy to trade double tops if you use an rsi divergence with it so definitely check out that video if you have not already um but yeah like as the price started doing this here's the thing with a with a head and shoulders pattern you have to keep in mind this zone right here if this is your right here this is your first shoulder this is your head and you're starting to see the second shoulder be formed you should immediately see this as your zone to and you can counter trend trade in this zone because you you'll still be safe so this area right here um previous low right boom came down you know created that that neckline or whatever uh head came up and then right here on this candle we start to create the second shoulder at the same level as right here so as you start seeing this fat start to form like you you can get in while it's forming you could have gotten in on a head and shoulders pattern right there stop loss above literally targeting this area right here where the previous neckline was and that would have been a 40 point trade on us or on german 30. so you know now we're continuing up so the second shoulder might be raising his arm i mean it's it's going with the trend so dude gold doesn't know gold is like my ex-wife freaking bipolar as hell um yeah so right now on german 30 i'm thinking i'm thinking even long positions man let's cool we've been doing this for 45 minutes i want to look at your guys's what whatever you're looking at so or actually hold on you guys wanted to see five-minute scalping so check this out if because i'm assuming us 30 is going to be moving to the downside now so let's look for five-minute scalping entries okay so this is my analysis right squiggly lines let's take it down to the five-minute chart and see what we're really looking at here so we are currently we had a nice fat momentum breakthrough of the 200 retested it continued it down and now we're starting to come up to retest that 200 again so we've already got this previous level um formed the small small level like don't mark it up with a line keep it in mind always when you're looking for where to target your trades look left so we've got that level we retested it right here i'm assuming that we might actually get a rejection off of this 21 or this 50 right here which would coincide with the higher time frame 21 remember i marked it up right here so these are my two possible trade entries either right here with a stop loss at the 200 going towards this previous level or another scenario would be at this 50 level again still targeting the 200 and doing that so these are your two separate entry points if you're scalping on a five minute going short because you can obviously see on a five minute time frame you are now trading with the trend because the trend is down it's below the 200 period moving average on a higher time frame the trend is still up this is why you can safely counter trend trade on smaller time frames when you start seeing momentum shifts down because it's still coming to the previous moving averages but on a higher time frame it just might sloop down and then cross back up so these are these are my two scenarios right here i'm gonna wait on a five minute for a fat momentum move this is ideally what you want to see so as you can see like there's like normal sized candles right here right and then we got this engulfing candle and then another engulfing candle and then as we broke through the moving averages this right here this fat engulfing candle this would have been my entry point right and i would have kept my stop loss above that and this is short-term scalping so i would have seen that momentum move and targeted right there above that 50 period and above the the candle right so it came up almost hit my stop loss but then you know you do a one to one point five or even a two yeah you would have gotten a two out of this you gotta wait for these big fat candles seriously i'm gonna make a freaking t-shirt that says i only trade big fat candles it's so nice to trade big fat candles because at that point you know you're not going to be in a period of consolidation because there's a momentum shift there's a momentum draw in a certain direction that big fat candle proved it can't stress enough how much i've learned from your videos man blows my mind that it's free i will never stop doing it bro and i'm glad that you've learned so much from uh from my uh from my videos hold on what was the last super chat five dollars what about a double top okay yeah so we we covered that or i told you about it in another video um the the main the main candle patterns that i use engulfing candles is key primary number one the second one is double tops the third one is head and shoulders pattern i've made a video on heading or on double tops uh i've made a video on engulfing candles it's my three lines strike sniper entry video and i will eventually do a video on head and shoulders patterns but those are the primary ones that you want to focus on pretty much so yeah i'm gonna try to pronounce your name varun thank you for the for the super chat i appreciate you bro um yeah look you see this right now us 30 is having a nice fat momentum shift so had i gotten in on this trade rejecting off the 21 this would have you know this would have made me pretty happy but keep in mind on a higher time frame we're still in an uptrend so you should even you know be wary of this area if it starts pulling back above this like that then you know that that was a previous level or a small level of support like i circled here earlier so i mean this is your goal but this is the area that you should keep in mind and if it starts going up above this keep keep the 50 in mind and if it breaks above that then you know all your previous analysis is wrong and that's okay it's okay to analyze and get this and then as price action does something different clear your charts and re-analyze and be like now it's actually continuing the uptrend it's okay to change your mind don't think that it makes you a bad trader you have to adjust to current market conditions i mean right here markets going up right and then you see this you need to stop and re-analyze clear your chart and say okay are we having a momentum shift to the other direction do i need to re-analyze possibly shorting it that you just follow the big fat candles done uh what do i think of online gurus here's the thing when i was learning who did i learn from these youtubers that make these videos but there's i watched every one of them a lot of them suck a lot of their videos are pointless they they're a lot of fluff to create the content that is you know just there to be there as opposed to the key points of strategies i just if i watch an hour video but there's one little nugget of information that five seconds that i'm like that's what i needed that's what i take and i build it into my knowledge base that i throw out all the useless stuff that i just learned and i take the the gems and i collect all my gems and i've made a sack of gems which i'm sharing you with you on this channel um but that's how i learned and then reading books and uh living on investopedia.com and learning all of the structure and market and candles and all the things and making friends in day trading communities and forex communities and one-on-one you know learning their techniques and what they do and that's your life you aren't born knowing everything you go through life interacting with other human beings and you learn things from those human beings so for somebody this was a previous issue in a previous group of mine somebody was saying that oh i taught that person how to trade everything they know is because of me no we learn from other people like i have no problem admitting that you know me and sinners did one-on-one lessons like you're he's in the group all the time he taught me some really valuable things when doing technical analysis that were really big clicks for me like aha moments and i took those gems and i added them to my sack of gems and i started building you know my own style that works with my trading and what i see so everybody that you would come across me somebody else in the group learn from them take the gems and build it into your structure into your system into your into your rules-based trading so that's super super important guys like i'm not ashamed to say i've learned everything that i know from other people it's not like i've pulled this in front and i was like i am an anomaly and i am the god of trading because i know everything it just doesn't work that way you learn from other people um cool try not to spam the chat i'm kind of losing the stuff that i was reading before maybe i should implement a slow mode um yeah anyway ahmad please stop uh spamming the chat um cool so that's five minute scalping you're doing your analysis on a higher time frame and you're seeing a different trend so you're okay for a counter trend trade in this scenario right now you know we're still getting that momentum shift down but keep keep an eye on it because it's a counter trend trade on a higher time frame um what do you guys want me to look at you want me to look at gold you want me to look at bitcoin you know what what's uh what's on your mind uh i trade five minute 90 of the time um i stopped trading one minute because there was a lot of false three-line strikes and i didn't like it um five minute i find much more soothing it's like a relaxing once you've been battling in the one minute terrain for as long as i have and then you move to a five minute it feels like everything is moving in slow motion so it's it's a nice refresher just to like yeah um bitcoin gold gbp jpy gold bitcoin bitcoin golf yeah tiger woods um nzd jpy gold beat cool i'm just gonna look at gold since everybody wants to see it one hour time frame oh what do you know it's a show with wicks everywhere look at this swing down what is that what is that it's disgusting it didn't even respect the moving average it went up no test not up down jesus this is why i don't like to trade gold because it's inconsistent look at this compared to something like i don't know um let's say even us 30 like it's consistent you know it doesn't freak out way below anything it just kind of stays nice even us 30 is better than gold um never cut losses your stop-loss should be your cut losses i just saw that in the chat um yeah if you start seeing your trade go against you do not cut your losses because it could still go like with your previous analysis it's not until you've gotten to that stop loss to where your analysis prior to is null and void then you have to start analyzing that it's going in the other direction always let your stop-loss get hit it's the best way to be consistent um gold gold gold gold gold okay so we are on a one-hour time frame in an uptrend we have had this freak out weirdness below the 200 but also now continuing up so i would say on a safe bet we should continue you know up just looking at price action but if we pull out the rsi we will get a better indication if there are any divergences so with this one right here you see we had this high and a higher high but we had a high and a lower high this my friends is a divergence this was your indication that it was going to go counter trend for a little bit um now the reason i think it's going to keep going up i'm going to show you a hidden divergence that i just spotted a hidden divergence and this is on a high high time frame in a big high range so this is a long-term trade do you see this okay look overall the price is above the 200 moving average we are in an uptrend you should be looking for trend continuations this is a a low and this is a higher low right you guys can see this this line go uppy right but if you look at the rsi in the same time this is the oversold area where the price went up now we are again oversold right here this oversold area is lower than this oversold area meaning we are more oversold here and yet the price is higher this right here my friends is a hidden divergence so it's secret so i would expect a trend continuation at this point seeing as how we are above all the moving averages in an uptrend and above the 50 on the rsi with hidden divergence my suggestion is you should be looking for long positions on gold right now i know over bought and oversold means nothing but the level at which it is oversold when something is below the 50 that means it's oversold area if something is sold more than it was previously sold that is your divergence i'm not looking at the rsi as oversold or overbought it's just not the way to use a momentum indicator it is a it's a way to give you an idea of where the momentum is going so if we've gotten that far below and now we're trading above the 50 it's a momentum shift up continuing the uptrend so don't be looking for short positions on gold thanks bye um [Music] iron man trading emas and smas don't mean nothing your opinion i respect it completely fine um yeah guys try not to spam the the chat i'm trying to like see what you guys want to see um you guys want to see crypto let's do bitcoin dropping as usual so this is a key level this is the level that you want to keep in mind right there let me move that to yeller make it fatter that's not the right yeller that's my yellow i have them color coded so watch for a rejection on this area if it falls below that the ground's the limit when you're falling out of an airplane right i mean you're eventually gonna stop um yeah watch this area as a previous level of major support uh it might be nice to get in on a long position right there but you know there's a lot of turmoil in the crypto space right now because of elon and you know all the the changes and people being scared but long term guys long term that shit's always going up if you're day trading crypto keep fat ass huge stop losses for sure um watch all my videos start with the beginner playlist and that's going to help you learn technical analysis cool um man so the reason i suggest looking at a higher time frame is because you can actually see even though there's a lot of spikes right here on australian dollar us dollar you can see this kind of like nice so now now we're doing this we're going down so at this point i might actually be looking for short positions as it whoa samurai fx man iron man he is toxic ah i mean i don't like to ban people unless they're like selling their courses or trying to you know monetize off the community and that's not cool we're all here as like friends to like learn and stuff so but i mean if he keeps acting up i he had to donate twenty dollars to say ban me for having an opinion everybody is entitled to their opinion that's completely acceptable this is just the way that i trade i mean moving averages are an average of the price in that range so it's like it's like when you're riding a bike right and you have forward momentum the centrifugal force it's like a top that's spinning right that's why your bike stands up if you get knocked off your balance you fall off your average you know your bike wants to re-correct as too does the price want to recorrect to an average sustainable price it doesn't want to be overbought or oversold or momentum down or momentum up like just the way it shift that that's that's my opinion ironman trading has a different opinion and somebody else gave me 20 bucks so it's all good like we're we're a community here we're building we're growing as traders that's it um jesus there's 500 people on this live stream that's crazy i think that's the most we've ever had maybe i'll get another 5 jillion subscribers i really want to hit that 100k i want the youtube like silver play button so bad it's not gonna go here i know a lot of you guys have wanted something on this wall what's going to be on this wall is my e-bike hanging on it after i've you know ridden to work it's just going to be there so i'm going to be the only youtuber with a or forex youtuber with a bike hanging in his background um gj gja my my old nemesis so let's make this smaller uptrend rejecting off the 200 if it breaks above these moving averages yeah if it breaks above like this is going to be a little bit of a zone see why how we had you know here here here so this wait for it to get out of this area either up or down and that should give you a nice indication and then just you know target the next levels when you're looking at where the price is right now and you're looking to where it's going to go this is what you should keep in mind look left and these are your two previous so if we reject off of this then this is your target right 26 pips on the downside but if it goes above like say here you know we start going above that that 50. this is your target
and this is your stop loss 43 pips like trade the current market conditions but try to wait for you know if you're stuck in an area where that's like already on a you know level try to avoid it until you actually get the momentum move out you want that clear you want that big ass candle trade that big ass candle am i using bollinger bands no i'm using uh moving averages and an rsi and my eyeballs yeah wait wait for rejection either up or down trade the momentum that is my best that's why my favorite video which is does not have that many views is the three line strike it is the sniper entry it gives you the tightest stop loss that you can get on any trade and it is really the most consistent way to trade in my opinion um i don't like using a volume indicator as an indicator um because look i made a video on trading volume and i know how to do it i just i don't like to do it because if you look i mean these are like previous high levels of volume then we had this huge spike up you didn't get any of these momentum moves right but you got this one and then we start losing volume but instead of it going down like that's what happens when you lose volume we literally just consolidated and then took a dump so you would have been on a trade and it would have been ranging and you would have been worried and you would have gotten out of it because at this point that was consolidating for four days yeah vol i don't like trading volume i i'd rather do the rsi look at this you see the momentum shift down whoa iron man jesus what is this a battle dude seriously like you guys don't have to give me any money whatsoever like i'm fine um but yeah dude iron man like i'm not it is what it is hold on what is this previous yeah we got hold on any 3d animators i want you to make a a samurai avatar and an iron man avatar and i want to see him both have lightsabers and i want to see him duke it out because this is a super chat battle um dude everybody's entitled to their own opinion i love both of you guys and i respect both of your opinions this is just how i trade this is how i found a high probability of a higher win rate that's it so if you guys i know a lot of people that literally only naked trade they don't use any indicators they just trade off of support and resistance levels i like to put up my moving averages so that i can see the trend easily without drawing trend lines or whatever because the trend is your friend and if you're counter trend trading at which point should you limit your short position counter trend trading that's it uh it's polite in poland to refuse the gift the first time and then if they offer it again then you're like all right twist my arm um yeah cool i think i think that's enough for today you got a good good idea of what to do on us 30. good idea what to do on gbb jpy good idea about gold long term don't make huge positions and try to scalp gold because it's scalping gold is really difficult hold gold get to those previous levels of support and resistance and right now gold is according to a hidden divergence um so yeah you know don't get in those trades that i just showed you right now wait for the momentum move and take the option that i showed you targeting the zones that i showed you so if you are just hopping onto this live stream right now just rewind it watch it cool um i think we're going to leave i'm going to leave before any of you guys start throwing more money at me i'm not a stripper i don't shake it for 20s sometimes i do there you go guys um yeah i think that was a super hold on that's that's a twerk oh my god dude you guys are freaking insane too bad christy's not on here then she would just like hundo um yeah dude if you guys have not already get into the discord group it's an amazing community we can discuss openly all current trades that you're looking at that you're in thanks for sharing your chart indicators what do you think of the chart market cipher program or whatever it's called um seems a lot like your i'm unfamiliar with it but i will look into it and i will either discuss it in the chat in the discord group or if it's viable i will make a video on it thank you steve for the 10 bucks seriously you guys and these these super chats makes me happy literally all the money that i get from this youtube channel i'm using it to like start building a team and getting assistance and translation like for the next six months all the money coming in from ad revenue and these super chats is all going into the channel because i don't need the money you know to support myself i need it to help grow this project um yeah so i think we're gonna go i'm gonna go uh thank you guys join the community openly chat in there i'm in there most days to chat but i also am a full-time dad so keep that in mind um admins are super helpful uh listen to the tma elite they are the traders that are the most active on the community and are most knowledgeable and so listen to what they say and take everything with a grain of salt and always do your own analysis based on what they're saying so that you can actually see the same thing and have an understanding don't blindly get into trades because somebody else said so you want to see what they're seeing and why they saw it and be like oh i'm on that level now i understand what that means so thank you guys so much for joining the live stream these happen every tuesday um at the same time a few hours before london open so we can get a clear idea of what we're looking for for that day i only trade a few pairs i suggest you only trade a few pairs and i will see you in the off topic chat because i want to talk about mountain bikes today okay bye guys thank you so much for everything really really thank you bye
2021-06-11 22:48
