The EASIEST Forex Trading Strategy For Beginners | HOW TO GROW $100 TO $50,000 IN 30 - 60 DAYS
What's up youtube family it's your boy king abe welcome back to my channel and in today's video i'm going to be showing you guys an easy trading strategy that you guys can use even if you have a small account you can use this trading strategy to grow your account so without further ado let's take a look at the charts and let's get this video started this strategy that i'm about to show you guys in today's video this is the same strategy that i've been using in all my live streams and i also started a small account this week and i was able to take that small account to almost 350 dollars and i'm gonna put the screenshot right here on the screen for you guys to see now i decided to start a small account this week because i was trying to make a video like this for you guys so you guys can see that it's actually possible to go to turn a small account into a big account and that's actually my goal and that's the reason why i started this small account and let you guys know that it's possible to grow a small account and turn into a big account using a easy trading strategy like this now let's get into this video now to when you're trying to grow a small account i recommend trading on the lower time frame it could be the five minute or the 15 minute time frame but i prefer the 15 minute time frame so i can get in and get out but what i also like to do is to also always leave a runner my target is to only get 20 pips once i get 20 pips then i move my stop-loss to entry price and then i start trailing my stop-loss from there until i'm completely out of the market until the trade takes me out of that particular trade but i make sure i'm always trailing my stop-loss and i'm taking partial profit as well as the trade keeps going in my direction now when you're using a strategy like this excuse me guys when you try to grow your account i recommend looking for one to two pairs and here you guys will see that we're looking at EURJPY EURJPY is one of my favorite pairs that i love to trade including GBPJPY but in this video we're going to be taking a look at EURJPY now to make it easier for you guys also in this video i'm going to add one indicator just one indicator but but first what we need to do is to start on the higher time frame in this case we're going to start with the four hour time frame now what are we going to be doing on the four hour time frame on the four hour time frame we'll be looking for two zones which is our support and our resistance that's the reason why we started on the four hour time frame because starting on the forward time frame is going to make sure we actually know the direction of the overall trend of the market now here on the four hour time frame if we take a look at this bar remember i said we only need two zones support and resistance now over here we can see that here for this buy previously we had a support here price just kept on rejecting these zones multiple times and we also have a resist a resistance right over here we had this support here that became resistance over here so now that you've had your two zones right here on the forward time frame now what you can do now is to go to the 15 and i'm gonna you know try and make sure this video is actually not too long now here on the 15 minute time frame since we're looking to take a buy position so we're gonna look for uh that zone real quick now we have the zone right here now this is the zone right over here now what we're simply doing here on the 15 minute time frame is remember in the beginning of the video i said we own our main focus is to get at least 20 pips then we move our stop-loss now looking here now to get in a trade like this we need price to break and close above our resistance zone and like i said earlier to make is make it easier for you guys i'm going to add an indicator for you we're going to use the simple moving average now to use this indicator you just go here to indicators and you just search for simple simple moving averages which is this one made by stockinbox once you find it you add it onto your chart then you go to settings you go here to settings and the first sma number one you change that to 200 everything else you don't need anything else you only need the sma number one and for the style you uncheck all the other smas and you make sure you leave sma number one checked once you're done you click ok and you exit now to get into this trade we need price to be above the 200 sma once we have price above the 200 sma does our first confirmation i don't use i don't use any indicator with this strategy but i decided to add this indicator for the beginners that will be watching this video for more confirmations so you'll be more confident to take a buy position or a sell position in this case we need price to be above the 200 sma once we have price above the 200 sma and we need price to be above our resistance now once we have price close break and close above our resistance zone now there are two ways you can get into a trade you can either wait for price to break and close and you wait to see a bullish candle or you wait for a break and re-test once you have that then you get in your buy position in this case we're just going to go with the break and close above resistance because we're scalping we're only looking to get 20 pips now once we have the break and close here now this bullish was this when this bullish candle forms and i can also see that this bullish candle actually has a wick it opened with a week and now i'm going to have guess what now i'm going to have my buy position i'll have my buy position at this candle here at the bearish candle there my stops will be right below the previous load that price created right there and my target is just for 20 pips now i'll just target 20 pips now once i have my 20 pips remember what i said earlier i'm going to move my stop loss to entry now guess what i've moved my stop-loss to entry now but where is my final take profit where am i trying to target here now to find out i have to go back to the four hour time frame so i have to go back to the four hour time frame now once i'm here on the four hour time frame all i have to do is to look for my resistance zone and i can see that price created a higher here this is going to be a target for me and this is going to be another target for me as well so even though price actually broke and closed above it but this is my two targets here now i'm going to go back to the 15 and let's actually see how many pips this was if we actually trade like this if you're trading like this and you guys will see what happened here so i'm just going to look for that now we all remember we already moved our stop loss to entry and we took partial profit as well i recommend taking at least 50 percent so for example let's say you have a 100 a 100 account so if you have excuse me guys my drawing might be bad here so let's say you have a hundred dollar account so you have a hundred dollar account right now risking one percent i recommend only risking be sent if you have a hundred dollar account or fifty dollars basically hundred only one percent so you have a hundred dollar account risking one percent meaning you can spend a dollar your lot size can be one dollar so now let's say you spent one dollar on this buy position now you got your 20 pips now that's 20 dollars secured now you take partial profit partial profit means you took 50 cents now you have a trade running for 50 cents which is point zero point zero five excuse my drawing guys now you have zero point zero five running that is fifty cent per pip now you already secure 20 pips now you have 0.05 running now your 0.05 could go all the way up here now just look at this now you just had uh look at this now you just had 114 pips as your take profit as your take profit now once my first take profit get hit i'm going to look for a low or previous high to see if price created a previous higher or previous low in this case i can see that now once my price once price gets to my first take profit guess what now i'm going to move my stop loss i'm going to move my stop loss right over here because i can see that we kind of have a low here now i'm going to move my stop loss there guess what and once that happens i'm going to take another partial profit in this case i'm going to take i'm going to take i'm going to take here i'm going to take i'm going to take 0.03 now i have 0.02 running now i only have 0.02 running now my 0.02 which is 20 cent per pip will take me to my next take profit target which is 187 pips just see that guys just see just take a look at that you already secured your profit so using a strategy like this is going to enable you to be able to grow your account fast instead of you just focusing on getting 20 pips and then you out of the trade no use a strategy like this trail your stop-loss and just ride the trade till the wheels falls off you already used your four-hour time frame you marked up your zones you looked at the forward time frame you already know the direction the market is is going now you're going to use the 15 minute time frame for your entry so guys this is how you use a strategy like this to take a bar position and like i said earlier i added the 200 sma for those of you you know just to make you guys more confident to get in a trade especially for the beginners now we're going to look for a sell position i'm going to remove all this drawing then i'm going to you know hide this moving average here now to look for a sell position now what we need to do here we'll make this candle small now what we're going to do here to look for a sell position obviously we need to identify our support and resistance and to look at this cell here our zones that we're going to focus on is over here to the left this is what we're going to focus on here to the left now what we're going to do is we can see that previously if we look here to the left we can see that we had a previous high we had a previous high here and you can see that our resistance our resistance here we can see that our resistance here became support over here now that's how this is our resistance zone we've identified our resistance what about our support zone and now we can also see that we had a support zone we had a support zone right here we can see rejection here rejection over here became resistance over here now we find we found our two zones we found our support and our resistance now we can go to the 15 minute time frame here for to take our cell position now if we look at this here now using the trail stop-loss strategy is not going to work every single time but is the best way to make sure you have some profit to make sure you secure some profit now we can see here that over here now we're waiting for price to break below our support zone if we go here we add the 200 sma and we can see that price is currently below the 200 ema meaning we also need only need to be looking to take sell positions now once you have all the setups that you need we wait for price to break below our support zone and what i like to do after price breaks and close below my support or above my support in this case we're looking for a bearish candle after the break and close but what i'm looking for is once price breaks below my support the next bearish candle i'm looking for i need to see a week at the top if i do not see a week at the top i'm not getting in that sale position i'm not that's just me that's what i do and i recommend you guys actually do the same thing now we can see that here there is no trade for us right here there is no entry right over here based on what i just explained to you guys there is no entry at all so now where would my entry be my entry would be now my entry will actually be right at this candle i'll have my entry right at this candle because it has a week it has a week at the top and price is below my support zone and price is also below my 200 sma meaning i'm only looking to take cells now my stops will be above my zone both of these pre this high the price created over here and now i'm looking to target 20 pips now i have my 20 pips here once i get my 20 pips what do you think i'm gonna do i'm gonna move my stops to entry now my stops is that entry now as price keeps going in my direction now this trade this trade was all the way here we can see their price actually go to 45 pips so for this trade you actually have 45 peeps because when you move your stop loss to entry now you as price keeps going your direction you need to look for the most recent look like i said when we took the buy position now we have this low here now my new stop loss is going to be right here at this new low here which is at 129.767.
now my new low is right here so in this trade i probably only made about 30 pips because price came back to my entry and stopped me out you made 30 pips right here so if you're trading with one dollars you made at least you made at least $30 on this trade now i'm going to show you guys one more example i'm going to show you guys one more example now in this case we didn't quite get what we're actually looking for now we're going to go here now we're going to go to the next entry we're going to go to the next entry right here which is right over here now we have we wait for price to break below our support zone once we have that we also see that price is actually below the 200 sma now guess what now like i said every year you can wait for the break and close and then get in or you wait for a break and we test but in this video we're just going to use the break-in close strategy now we have a cell here because we also have a week here we have a sell right there stop loss right above my previous zone right there and my target is for 20 pips my target is for 20 pips now in this case do we have 20 pips no we do not have 20 pips so we still in the trade here right over here we're still in the trade now price shot back up but it didn't touch our stop-loss so we still in this trade as you guys can see now once price get gives me my 20 pips i move my stop loss to entry now once i move my stop loss to entry now we can go to the four hour time frame to look for our potential take profit target you would have done this as well when we took the first uh cell position but i decided to do it just right now just to show you guys this strategy actually works most of the time moving your stop-loss and training your stop-loss just for you to get more peeps instead of getting just 20 pips and then you know you just get out the trade now we're going to look for a zone here and we can see that we had a support zone here we can target this support zone and we can also target this resistance here that price created so now we have two zones that we can actually target now we go back to the 15 minute time frame and we look for let's look for that uh zone real quick now now this is the zone right over here now we have our 20 pips stop loss has been moved to entry now our target we have our first take profit target now you just made six you just made you just have 61 pips here now you made you because once you have your 20 pips you you took partial profit now you're running with 50 cents per peep now you just made 60 pips now once you have your 60 pips guess what now you can move your stop loss to this previous low here now your stop loss is actually now above your i mean below your entry now you guaranteed some money even if price pulls back and touches your new stop-loss and guess what now you have your final take profit here your final take profit is the killer now your final table take profit here is for 137 pips crazy this is exactly what i do and this is how i've been growing this small account this week and majority of the pairs that i traded as you guys can see in this through in this screenshot was actually EURJPY even though i love trading GBPJPY as well i only traded it one time and that was actually today during my live stream and during my live stream today we was actually able to catch about 90 pips during my live stream today so guys if you guys also want to join my live stream make sure you guys subscribe to my channel and turn on the bell notification so you guys don't miss any of my future videos i hope you guys found value in this in that video so if you find value in the video please 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 video thank you guys for watching and i will 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.
2022-03-07 09:38
