Transcript for:
Beginner Day Trading Guide

by the end of this video you're going to know everything that you need to know on how to become a day trader as a complete beginner this full course will be packed with more value than everybody puts inside of their courses and sells to people for hundreds and sometimes even thousands of dollars I'm going to take you all the way from the beginning from what is day trading to how to recharts what candlesticks are the platforms you're supposed to use the strategies you should use how to manage your trades how to Journey your trades I'm going to teach you everything you need to know on how to become a profitable day trader first of all who am I my name is juvier and I've been trading for seven years now day trading has allowed me to live my dream life I bought my first home for over a million dollars I bought my wife her dream car I have Financial Freedom I can buy literally whatever the heck I want to whenever I want to I can live wherever I want to cuz I now have time freedom and location freedom because of day trading I'm able to not just take care of myself and give myself the life I never thought possible but I'm also able to do that for my friends and family as well over the past 7 years I've been able to consistently make multiple six figures every single month day trading and that's why I truly believe that everyone should learn how to day trade and that's the main reason why I'm making this entire course completely for free because I feel like you and every other person watching this video deserves to learn this skill that can not just set you free but set your entire family free to Live Your Dream Life in this video I'm going to Deep dive into every single thing that I know about trading and everything that you're going to need to know about trading to be able to start consistently making money day trading and at the same time I'm going to keep it as informational and as educational as possible because I remember when I was first starting learning how to day trade everybody was making it super super complicated and over the past 7 years and being able to help thousands of people learn how to day trade I've been able to package it in a way that's extremely simple that way even a six-year-old could actually learn how to trade which I actually have taught a six-year-old how to start trading so I'm going to do that in this video as well to hopefully keep you ENT mained informed and enough education so that you can feel confident getting started on your day trading Journey grab yourself a notebook grab yourself some water and get ready to change your life let's get into this so what is day trading in simple terms it's realistically just hopping in and out of Trades pretty quickly you've probably seen your grandparents or parents even talking about buying stocks and holding stocks for years or until they retire and making money from it that's not what we're talking about we're more so talking about hopping trades and predicting where price on a specific stock crypto Futures currency pair any of those we're just predicting where price is going to go and we're making money when we're predicting it in the right direction the cool thing about day trading is that we can actually make money where the price is going down or going up so unlike holding stocks if price goes down while you're holding the stock you're going to be losing money versus with day tring if we predict price is going to go down we can make money when price goes down and vice versa we can make money when price is going up now there are many different components that go into predicting where price is going to go and we're going to get to that later on inside this video but basically we can just look at specific patterns and usually inside the market patterns will repeat itself and like I said we'll get into that a little bit later on inside the video so stay tuned let me answer some frequently asked questions that a lot of new people end up having before we even get into the trading part itself how much money is needed to start day training honestly now you really don't need much you can start off with 200 300 400 even $500 I always suggest for people to have at least $500 put aside to start with this but you could start with a lot less amount if you wanted to and I'll get into a cool trick for you guys later on in this video where you can take $200 and get access to over $100,000 to trade with how much time do you need to be able to trade every single day a lot of people think I sit on the charts and look at it for 5 6 7 8 9 10 hours a day when in reality I'm probably looking at the charts maybe 30 minutes every single day and I try and help everybody get to that same point we don't want to be sitting in front of the charts every single day we want to be able to trade in the morning make our couple hundred couple thousand dollars go live our life enjoy our life with our family go do the things that we love to do so that's why realistically you don't need much once you learn the skill now obviously trying to learn the skill is going to take a lot more time than just 30 minutes a day but once you get it and get all the education realistically you don't need to trade long at all how long until you can start making money that's a great question and it really depends on how much work you put in and how disciplined you are I've had people that have started making money consistently within a month of learning this and I've also had people where it's taken 8 9 10 even 12 months to start consistently making money in this it really comes down to how much work you put in and how disciplined you are when it comes to this trading game now what kind of equipment will you need a lot of people think you need a super fancy computer they think you need a $10,000 computer gaming computers whatever they think some crazy things when in reality you can use a regular old laptop if as long as it has Wi-Fi and it turns on you can trade with it you can even use your phone you can use an iPad now I don't suggest you using your phone especially in the beginning because it's hard to learn and understand the charts on such a small screen but you technically could you don't need any crazy equipment at all I guarantee you if you have a laptop that has Wi-Fi and it turns on you can start trading can day trading be your main source of income 100% I make multiple six figures every single month from day trading and I technically could have it as my main source of income the only thing that stops me from doing that is because of the fact that I only trade for 30 minutes a day so I kind of want other things to do throughout the day so I end up getting into other Investments I end up starting other businesses I start doing other things to make me even more money because day trading makes me a good amount of money in such a short amount of time I have so much more day to go so let's get into the fun stuff here there are multiple different types of Industries that you can day trade in we have the Futures Market we have the Forex Market we have the crypto Market we have the stock market we have the options Market there are so many different things that you can trade but those are the top five ones that most people end up trading now keep in mind I mainly trade Futures and Forex I also trade a little bit of crypto but for this video I'm going to really break down Futures and Forex Trading but keep in mind everything I go over in this video is universal to every single thing every single industry that I just mentioned whether it's Futures Forex stocks options crypto what I talk about in this video can be applied to every single one of them once you learn this skill you can end up making money in every single environment of trading like I started off in the Forex market and the crypto market and since I already knew how to trade in the Forex and the crypto Market I was easily able to transfer over into trading Futures and also trading options now keep in mind stocks is a little bit different you need a lot more money to to day trade it cuz remember day trading we're getting in and out basically every single day we're not holding this for years and months and and things like that but Forex Futures and crypto and options trading you don't need as much money and you can get in and out of these pretty fast during the day it's also important that you figure out what type of Trader you are there are three different types of Traders there are swing Traders there are scalpers and there are intraday Traders and basically the difference between all those is really just how long you're in each trade us as day Traders most of the time like I said we're not holding these trades for weeks and months and years and things like that we're kind of in and out in a shorter amount of time so scalpers are in and out of Trades the most they are probably in trades for a couple seconds to like 5 10 minutes max that's what a scalper is someone that just likes to be in and out of Trades very fast they end up taking actually more trades throughout the day uh versus someone that's an intraday Trader an intraday Trader will hold trades anywhere between 15 minutes to two hours they're usually holding trades a little bit longer but they're not holding them past a whole day they're most of the time going to be in and out of them within 10 15 30 minutes all the way up to like I said 2 3 hours that's what an intraday Trader is now a swing Trader is someone who would hold trades for hours sometimes even days but most of the time they're holding these trades for a couple of hours minimum or a couple of days so you need to figure out with your personality if you would be a better fit as a scalper an intraday Trader or a swing Trader keep in mind all the strategies and all the information I go over inside of this video can apply to all of them you would just have to change the time frames and the way that you're trading it but you can use the same price action and the same knowledge but understand what type of Trader you are based off of your personality and your trading goals okay so getting into trading itself you're going to hear me use the word pays you're going to hear me use the word instrument and this basically just means the asset that we're trading the thing that we are actually trading itself I'm going to give you guys the top five most popular ones I'm also going to give you guys my favorite ones in both the Forex side and the future side so you guys can kind of understand exactly what we're looking at and so you guys have some examples of things you might want to go and start researching and start looking at maybe practicing on okay so here on the future side if you guys can see we have the top five really most popularly traded ones I'm not going to lie natural gas is not a top five popular one but it's one of my favorite ones to trade so I put this in there but basically we're able to trade the Futures S&P 500 the terer symbol is es and basically all tier symbol means it's just the shorter version of the asset or the instrument or the pair that we are trading when we're going and trying to find these pairs and try and find these instruments on the different platforms that we'll go over later on inside this video you can just instead of typing out e mini S&P 500 you could just type in these ticker symbols and it's a lot faster and a lot easier but the top ones are ES which is the S&P 500 we have NQ which is the NASDAQ or Nas 100 we also have ym which is the Dow Jones we also have gold which is the ticker symbol for that is GC and we also have natural gas Futures the the ticker symbol for that is ngg now keep in mind these three top ones are the top three traded ones really in the Futures market for the most part the S&P 500 being the most traded one it's a good starting one to start practicing on the P 500 if you do want to get into Futures Trading but a lot of people like trading gold as well and I absolutely love trading natural gas my top two favorite ones realistically is going to be NQ and NG NG is also a great one to start with if you are a beginner because it moves very slow so if you're a new Trader you're just learning it you don't want to kind of get psyched out and confused and kind of th thrown all over the place because NQ ym and Es can all move pretty fast if you're not used to it now on the Forex side so Forex is always going to be currency payers so it's going to be Euro USD which basically just means the euro dollar versus the US dollar same thing with gbpjpy it's going to be the Great British pound versus the US dollar and it's the it's the price discrepancy between each and every pair that you see here so we have Euro USD which is going to be the most traded one we have GBP USD as well we have GBP JPY we have USD JPY and we have USD CAD now keep in mind I put down here as well these three are basically the same as these three up here Nas 100 is the same as NQ it's just the Forex version of NQ we also have SPX 100 or S&P 500 which is the same as es on the future side then we also have us30 which is the same as ym on Futures so just keep that in mind now my top three favorite ones when it comes to trading Forex Pairs and Forex currencies is going to be GBP USD GBP JPY and USD CAD a great one to start off with if you are a beginner though just to get used to it is Euro USD because it moves a little bit smoother and a little bit slower than all these other ones so if you're a new Trader it's really cool to start it it would be pretty smart to start on your USD just due to the fact that this is a nice pair for beginners it's smooth and it's slow now I went over the top five in the Forex and the Futures Market but keep in mind there are so many things that you can trade when it comes to Futures and Forex honestly you can trade Futures corn like you can trade the price of corn you could trade the price of Liv stock you can trade it's it's a crazy amount of things that you can trade but you shouldn't get too confused with everything that you can trade it's cool if you start off with the ones that I recommended CU like I said they're going to be a little bit more beginner friendly versus you trying to guess the price of freaking wheat and corn and and things like that on your charts so keep in mind there's so many things that you can trade but try and not get caught with that gold flashy syndrome where you keep chasing every single thing that you see but just try and focus on one thing Max so that you can just get used to trading and used to reading charts so now that you guys know the most popular pairs whether it comes to Forex or Futures you have to be aware of the fact that certain pairs or instruments will move more at certain times of the day and that's because these things called trading sessions so the market is really moved by these huge bankers and these huge um funds that are actually buying a lot of things and selling a lot of things that's why you see prices of stocks or cryptos going up or down it's not us it's not you with $200 or somebody with even a million dollars buying or selling something that's not making the price move it's people that are buying hundreds of millions of dollars worth of these things that's making price go up or down and the reason why that's important is because at certain times of the day these people are working these people are actually looking for setups and it's important to understand their trading session and trading sessions overall so that you can know when you should be trading certain things and when you should not be trading certain things because like I said at certain times of the day let's say for example NQ will move a lot more than at the middle of the night it won't move a lot so maybe you shouldn't trade it when it's not moving a lot maybe you should only trade it when it's moving a lot and to understand that you have to understand trading sessions so let me show you guys what are the main trading sessions so you can be aware of when you should be trading specific things so as you can see on our screen here London session starts at 2:00 in the morning Eastern Standard Time and ends at 11:00 in the morning Eastern Standard Time that just means that really anything that has to do with with London or uh GBP if we're talking about Forex so if you're looking at any pair that's like gbpusd or GBP JPY any pair that has GBP in it it's going to move the most during that time window of 2:00 a.m. to 11:00 a.m. eastern standard time now the next session is New York session and New York session starts at 8:00 a.m. eastern standard time and ends at 5:00 p.m. Eastern Standard Time so there's a window from when London session and New York session are actually overlapping and that's from 8:00 a.m. to around 11:00 a.m. that's when London session and New York session are in effect and that's when there's the most volume inside the markets that's when most people trade that's when I end up taking trades because there's so much volume in the markets there's so much price movement in the markets it's easy to make a large amount of money in a small amount of time just because there's so much volume but like I said New York sessions from 8:00 a.m. eastern standard time all the way up till 5:00 p.m. Eastern Standard Time now Tokyo session is the last session really of the night and it starts at 700 p.m. Eastern Standard Time and ends at 4:00 a.m. eastern standard time now keep in mind New York session is really when you going to have the most movement in basically every single currency whether you're trading NQ es Ng any Forex pairs any Futures pairs it's it's all going to happen within New York session for the most part and most of the time during that 3-hour window when New York session and London session overlap now onto Tokyo session realistically there's not a lot of volume in Tokyo session it's only on specific Forex pairs that have JPY in it so if you're trading USD JPY or GBP JPY or anything that has JPY in it is going to be a little bit of volume during that time but to be honest it's not a lot of volume during Tokyo session and that's just due to the fact that all the other sessions are kind of off at that point London session and New York session are not happening and the Tokyo Market realistically is not that large so there's not a lot of price action during that time now it is possible to make money and I do know people that are making a killer amount of money in Tokyo session but it the market just moves a little bit slower during Tokyo session okay boom so now that y'all understand Pairs and sessions now we have to get into the super super fun stuff this is the type of information that's going to help you make hundreds thousands and multiple thousands of dollars with day trading I told you guys day trading is all about using analysis and analyzing the market to see if price is going to go up or price is going to go down so we can make the best guess possible to end up making money inside of the markets so there are two main type of analysis that day Traders use we use fundamental analysis I just missed my finger we we use fundamental analysis and we use technical analysis is fundamental analysis all that is it might sound weird or like you never heard of it before all it really is is news events or any like news thing that happens that has to do with that pair or that currency or that stock or that crypto that you're you're looking at or trying to trade what that could be is let's say Tesla a car just blew up a Tesla car just blew up odds are Tesla stock is going to end up going down or if interest rates come out that's going to affect the markets either good or bad depending on what number came out or like when we had the covid-19 like that heavily affected the markets it's just any news event that has to do with like real life things that could either indirectly or directly affect the thing that you're trading and what I mean by indirectly is like if God forbid a World War frein 3 happen that would indirectly affect the market because it's not specifically anything towards the market but it's something against people and people get scared end up moving money around so it affects the market now obviously there's more direct things where like if Delta loses 20 planes and 100 people die God forbid on plane crashes the Tesla stock is going to drop or if Nvidia comes out and says they made $100 million more than they thought they were going to make their stock price is going to go up that's all fundamental analysis is as a day trader we we are conscious of it but the main thing that we use to make money and predict where price is going to go is technical analysis and technical analysis is simply looking at charts looking at patterns in the charts looking at the candlesticks looking at all the different things on the charts and using that to predict if price is going to go up or down based on previous patterns now it's extremely important that you understand technical analysis cuz with technical analysis that's how I'm able to predict if price will go up or down and how I'm able to make thousands of dollars every single day by simply memorizing these patterns understanding these patterns having an eye for it and acting when I see these things happen now in this next section I'm going to go over everything you need to know about technical analysis and I'm going to show you guys what website to use how to understand candlesticks how to predict price I'm going to give you guys the full in-depth thing I told you guys I'm going to give you guys all the information that you guys need to be able to start day trading so let's hop into these charts all right so here we are on trading view trading view is going to be your best friend as you're getting into trading this is where every Trader comes on to be able to look at any stock any indic any crypto anything and markup their charts to be able to predict where price is going now keep in mind trading view is completely free you can have paid versions of it but as a beginner you can just create a free account on it and you're basically able to do everything you need to do in the beginning of your trading Journey so just come over here to tradingview.com now once you do that you can come over here to hover over products and just press super charts and it'll take you into a chart that basically looks like this now keep in mind this you've probably seen this if you've watched any videos on trading or even have just been on social media it's a bunch of people that kind of post these type of things this is called a chart this is what we as Traders look at to be able to predict if what price is going to do whether it's right now in the next 10 minutes in the next 5 minutes in the next hour the next day week year whatever it is this website is extremely vital for that so you need to get extremely comfortable with it and I'm going to help you do that I'm going to break down exactly what all these things are and what you need to know about trading view so let's get started so first of all starting off up here this panel right right here just has a bunch of different tools think of it as basically this whole screen is just a drawing board and all these things right here can help you draw on it you have a line that you can just draw you can change the colors of it if you want you can hit drop downs over here to have different things as well um same thing over here A bunch of different tools for you guys to use don't worry about all these things you don't have to worry about majority of these things all you're going to have to worry about is um certain things that I'll show you I'll point it out for you guys um but we have these over here you can hit drop draw Downs on all these you can draw on the chart if you want to you can realistically do whatever the heck you want to do on the chart but the main tools you're going to end up needing is this Crosshair first one then we can have this uh drop down this line this trend line you're going to need that so what you can do when you create your account on trading view is hit the star next to the trend line and it'll basically add it to your favorites and it'll pop up here so I have mine for trend line I have mine for horizontal line and I have mine for horizontal Ray they're all just different type of lines for the most part and then on this drop down right here there's nothing really that I have this one on here I don't have anything right here I have long position and short position you can put a star next to those and basically all these do is you'll press basically this for example would be where you would enter a trade at this top part would be where you think price is going to go to and this bottom part would be where you would want to exit a trade if you're it's not going your direction just to help minimize miniz your your losses and we'll get into that a little bit later on but I just want you guys to be aware of these things now I have a brush um favorited on here as well as a rectangle and a path you can do that as well as you guys see it's just all the um the favorites that I had up here which is mostly just the things that I end up using on a day-to-day basis just so I don't have to go through here and click through it just to find it but that's basically all what these tools are now over here to the top left corner this is what pair you're looking at or what instrument you're looking looking at you can click on it and you can type anything you want if I want to type Bitcoin I can type Bitcoin if I want to type ethereum I can type etherium if I want to type us30 like we talked about I can type in us30 GBP JPY you'll see a bunch of them and what you'll see is the ticker symbol over here to the left you'll see their full names right here and you'll see what platforms that they're on now keep in mind don't be too concerned about these and the platforms that they're on as of right now these just cuz sometimes the the price will differentiate by a little bit so GBP JPY on the aanda platform might be $10 different than the GBP JPY on the FX CM platform but just starting off you don't have to worry too much about that for the most part you can use either one of them but if you look over here to the um right of the name a little bit more you see numbers right now it might look a little bit different for you you might have different numbers this is just the ones that I use for the most part and basically all these these are are what we call time frames so this 1 m means 1 minute time frame 5m means 5 minute time frame 15 minute 15m means 15 minute time frame hourly 4 Hour daily that kind of stuff you can hit this drop down and basically click anything that you want at that point and basically all that means when we click on those time frames it just means each and every one of these candlesticks represents what's happened in 5 minutes because I'm on the 5 minute time frame if I go to the one minute time frame each every one of these candlesticks represent what happened in one minute and so on so on so on like I said we can go up to the 15-minute hourly daily time frame and I'm going to go over exactly what candlesticks are in a little bit but I just want to finish going through trading if you guys understand how to use it so right here as you can see there's these things called indicators and basically indicators can be little tools that can help you in your trading it can show you really what price has done the past couple days or so with certain indicators if you click on indicators you can actually see a bunch of different ones on here if you want to type in anything that you might see on social media you can type in up here there are a bunch of different indicators to be honest with you guys I'm not really a huge fan of indicators I just use the IND indicator that I personally made as well as one other indicator called kill zones and all Killzone does it shows me on the chart when New York session starts Tokyo session starts and London session starts so I don't have to go back and see okay this at 12:00 this is London session it just shows me on the chart so it just makes it a little bit easier for me that's all all Killzone does um but here you can use your indicators and when you press your indicators it will just go onto the chart and things like that but right now we're not going over indicators or go over that a little bit later now you can add indicator templates if you want this right here is an alert button which is extremely powerful I told you guys I really only trade for like I'm really only on a charge of like 30 maybe 35 minutes a day a lot of the times a lot less than that and the reason being is cuz I utilize alerts alerts are extremely powerful because I don't have to sit here and watch the chart 24/7 I can press here and set an alert and when price gets to a certain um number or if price does a certain thing or if a stock does a certain thing I'll get a notification right to my phone I'll get it on my phone I'll open up the chart I'll see if I want to buy or sell I'll buy and sell and then I'll sit in alert if I at certain areas if I want to close my trade there or close my trade there it doesn't matter I'll have an alert that way I don't have to look on the charts the entire time I'll just get notifications sent right to my phone so I can act when I get those notifications without having to wait here this entire time but that's what the alert does now there's this replay feature right here this is extremely important when you want to start practicing trading this is what we use to back test and I'm going to get into how to back test so you get comfortable with the charts later on inside this video so make sure you stay tuned because back testing is a huge part of all this and this replay feature is exactly how we're going to do it now to to the right over here we have different our watch list for the most part so if you know that you want to trade gold right you can type in GC as we talked about before that's gold Futures and we can press that and it'll go right onto our watch list that way we don't have to type in every single pair that we want to trade every single time we want to look at the chart we can just come over here to our watch list and click through it just like that it makes going from Pair to pair to pair way easier and way faster now that's realistically all you have to know on the chart for the most part as far as trading View and how to use trading view you can right click on your chart and go to settings you can change the colors of the candlesticks if you want instead of it being green which means goes it's going up and red which means it's going down you can change it to purple and blue you can change it to white and black you can do whatever you want to do at that point and kind of just play around with the settings in here keep in mind I don't really play around too much with the settings um I'll change the color of my candlesticks that's really about it I don't really change anything else in here for the most part but feel free to play around with it if you guys have a color preference if you want but I think in the beginning it just makes sense to just stick with the normal colors of green and red but like I said for the most part that's kind of a all you need to know about trading view now let's get into understanding exactly what we're looking at what are these candlesticks what do they mean and how do we use these candlesticks to be able to know if we should buy something or sell something so let's break down cand candles sticks candlesticks are probably the most important thing that you're going to need to know when it comes to technical analysis really when it comes to trading overall I made a nice little drawing here obviously these are real candlesticks this is my drawing as you see they're all different shapes and sizes all different colors but I'm going to break down exactly what these mean I know when I was first starting off trading and I was trying to learn it everybody made it super complicated I'm going to make it extremely simple for you guys there's two things when it comes to candlesticks we have the body and we have the wick the body is the the this thick part the fat part whatever you want to term it as and then we have these lines right here these skinny lines these are called the Wicks body and the Wix all the body means is that's where price opened at and then that's where price closed at and what I mean by that is remember how we talked about what specific time frame we're on if we're on the one minute time frame that means all these candlesticks represent what's happened in the time of 1 minute if we were on the 5 minute time frame these candlesticks would represent what happened in a 5 minute span so when I say we're on the 1 minute time frame and we're the body shows us the open and the close of that Candlestick that basically means at the start of 1 minute so let's imagine right now where's my my text tool let's imagine it's one1 p.m. right this is 101 p.m. this next Candlestick would then be here we go this next Candlestick would then be 10:2 p.m. then the next one would be 103 and 104 right but at the end of this 101 Candlestick price opened right here on a green Candlestick or a bullish bullish means it's going up bearish means it's going down so on a green Candlestick or bullish Candlestick the bottom of the body is where price opened up at that means at 102 exactly this is where price was because the last price ended right here the last Candlestick ended right here now the top of the body represents what price ended at exactly what number price was at at the end of 102 p.m. now the Wicks just represent what's happened during that entire span so just because this 102 Candlestick opened or started right here and it closed right up here that doesn't mean price didn't do anything else throughout that time but throughout that time of 102 right price the Wicks represent where price has went throughout the entire time so so that means at 102 in maybe 10 seconds it came down here at 102 and 50 seconds it came up here at 102 in freaking 43 seconds it was right over here this it just represents the highest of where price was at the top of the wick represents the highest of where price was at during that Candlestick the bottom of the wick represents the lowest of where price was at on that Candlestick now same thing vice versa with bearish candlesticks or red candlesticks except we're switching it so we know the bottom of B bullish candlesticks is where price started at at 102 p.m. price was right here and right here basically means if we look over to the right it was at on this specific example it was at 19870 right you guys can see it towards the right of the my mouse 19870 that's where price was at when 102 started and then at the end of 102 price was at 19 956 but then remember this is our 103 Candlestick I told you guys it's vice versa so so because it's going down that means the top of the body of our Candlestick here right here the top of the body of our bearish Candlestick means that's where price started at 1:3 p.m. this is where price was at the bottom of a red or a bearish Candlestick is where price closed at that means at the end of this 103 Candlestick price was right here which is at whatever number that is and the same thing with the Wicks throughout this entire 103 Candlestick price could have went all the way up up here could have been down here all the way up here it went all the way down here throughout this entire Candlestick it's done all this it's been all the way through here but it opened here and it closed here same thing with this additional red Candlestick this would technically be the 104 Candlestick where price started right here and it went down more and it ended up at the end of 104 it closed right here this is where price was at the end of 104 same thing with the Wix that just means price went up or down in that range so hopefully I was able to make this is pretty clear for you guys I know for me in the beginning it was like one of the hardest concepts for me to grasp so I try and make it as simple as possible for people by just letting people know bearish candlesticks the body means where that's where price started at that time the top of the body is where price ended at that time now with bearish candlesticks it's the opposite the top is where price started the bottom was where price ended at and all the Wicks mean on all the candlesticks that just means what price has done where price has price could have been anywhere in this range throughout this entire Candlestick this entire Candlestick but when the Clock Struck 103 p.m. price ended up ending right up here so that's how you understand candlesticks and like I said obviously there are bunch of different shapes and sizes cuz price can realistically do anything if we look on the charts here same thing right here we can see all these green candlesticks this is where price started this is where price ended the Wix is where price has been throughout this entire time same thing with these red candlesticks price started right up here price ended right down here the Wix is where price has been throughout this one minute candle because remember we're on the one minute and keep in mind if we go to the 15-minute time frame we'll see the exact same thing we'll see let me turn this indicator off we'll see the exact same thing except the candlesticks will look a little bit different um rather than if we were looking on the one minute time frame because each and every one of these candlesticks let's say because this is a 15-minute candlestick let me just show you guys right here so if I put a box around this 15-minute Candlestick let's just make this white so everybody can see it easily so this is one 15-minute Candlestick but keep in mind this is a 15-minute Candlestick so that means if we go to the 5minute Candlestick there are three different boxes that are inside this 5-minute Candlestick just like this this is the three boxes that's in that five-minute Candlestick uh sorry that's in that 15-minute Candlestick just because we went to the 5 minute time frame now if we go to the 1 minute time frame we'll take one of these candlesticks right here one of these candlesticks is a 5 minute time frame or one is a 5 minute Candlestick sorry if we go to the one minute time frame these are all the candlesticks that happened in um a 5 minute span so you'll see the same price action on a 15minute or 1 hour or a 5 minute uh Candlestick but the lower time frame you you go the more in detail you get to see what happened in it because like I said we're able to go just more in depth in what's happening during that 15 minute if we go down to the 5 minute we can see exactly what happened at um 355 if we go to the one minute we can see exactly what's happened at 358 357 356 you can even go to Second candles second Candlestick time frames if you want I don't really do that it's kind of too fast for me I'm not going to lie um but sticking to these candlesticks and understanding what each and every one of these candlesticks means is extremely important so hopefully I was able to break it down simply enough for you guys to understand exactly what you're looking at remember it's always going to be different shapes and sizes because price does something else something new every single Candlestick so now that you guys understand candlesticks and what each Candlestick means that is a very very valuable skill to know not a lot of people in the world know that and if you know just that what each Candlestick means and represents what the body represents what the wick represents you can actually start trading just with that now that's what some people like call Price action or just Candlestick trading I don't really do that too much but it is something that a lot of Traders use and the reason why it's so powerful is because since we know what Wicks mean and what bodies mean and all that different type of stuff we can look at a Candlestick and be able to guess the next two or three candlesticks and see what price is going to do for example with this example right here we see we have red candlesticks going down we have a bunch of red candlesticks going down then we have a small body right here with a small Wick to the top and a long Wick to the bottom that means and that shows us that price tried to come down here but just couldn't stay down here it tried to come down here but couldn't stay down there so it ended up closing up here which means and this is how I like to word it and kind of how I teach people that are kind of younger I say price was scared of down here and when price is scared of down here that means in reality price is probably going to end up going up and that's exactly what happened we saw this Candlestick with a small body here and and a small Wick at the top but a huge Wick at the bottom price tried to be and stay down here but it just couldn't so it ended up coming back up here and as we see if we zoom out price just continued to go up so that's one way you can use it if you find candlesticks that look like this another way is understanding if you see small candlesticks in comparison to the other ones we see we have this huge green Candlestick keep in mind anytime you see a huge full body Candlestick something like this that doesn't that's big and it doesn't have a lot of Wicks at all that's a high probability that the next couple candlesticks are going to continue to go up um or vice versa if we see one like this a red one next couple candlesticks are going to continue to go down so we see this and we're like okay price is probably going to continue to go up but then we see these small red candlesticks and what these small red Candlestick means or any type of they could be green as well it just means uncertainty when there's a small body but kind of equal Wicks at the top and equal Wicks at the bottom that means like the wig size is basically the same that just means there's uncertainty that means that price doesn't know if it's going to continue to go up or continue to go down same thing happened here we had Wicks at the top Wicks at the bottom that are basically the same size and a small body so price was just uncertain and then the next Candlestick we had a more certain body where we had a huge body and smaller Wicks and we see price continue to go up same thing this is another great example right here where we see a huge body small Wick at the top and big wick at the bottom if we remember what I just said before price is scared of down here price tried to go down but it couldn't and it ended up going up that means realistically it's probably going to continue to go up and as you see it continued to go up now Vice Versa on the other side I showed you guys examples of where price was scared to go up um now I can show you guys an example where price was scared to go down where we were going up then we see a lot of small candlesticks any single time you see small candlesticks that just means price is uncertain there's uncertainty there so because there is uncertainty there um the next Candlestick we had where price tried to come up here we see that Wick where price tried to come up here but it was scared of up here so it ended up going down we were able to have a nice sized body going down with not so big of a wick going down and that shows us and told us that price is going to end up going down even more and that's what it ended up doing before going back up so just being able to know what candlesticks um look like and and understand what the bodies mean and the Candlestick Wicks represent it can help you out a lot just with that information now there's obviously a bunch more things We'll add on to it as we go further along in this entire tutorial but that's a good starting base to understand and just be able to look at candlesticks and be like okay if I see this Candlestick the next one probably will continue to go up or the next couple ones will probably continue to go up or if it's going up for a lot and then we see a bunch of small candlesticks that just shows us that price is probably going to end up going down for a little bit that kind of thing so candlesticks are a huge part of training but you also have to understand market conditions you have to understand what type of Market we are in price never goes straight up right same thing price never just goes straight down price always does these little ranges where it go up down up down up down up down that kind of thing right now this is what we call a trending market for the most part this is um where price is making higher highs and higher lows if you guys hear that analogy come out or if I say that analogy at all all that means is that price went up and it created a low then it made a higher high because this high right here is higher than this previous high that means this high and this High created a higher high now this low is right here and then right here we create a higher low same thing right here higher high higher low higher high higher low and then by Versa if we're going down it's the same thing except we have a low then we have a high then we have a lower low then we have a lower high lower low and a lower high again so that's when you're kind of able to tell if we're in a trending Market when you're seeing higher highs and higher lows or if we're we're we're in a bullish trending Market sorry or if we're in a bearish trending Market cuz remember bullish means we're going up bare means we're going down so let's delete all of this off my screen um but there are also times where pric is in a consolidation and all consolidation means or a range means is that price is just going up or down right it's just going up or down it's not really making higher highs higher lows it's just really going up or down and staying in what we call a consolidation or a range which just means that price is staying within a range now the reason why that's important is you need to understand certain strategies will work better in trending markets versus consolidation or ranging markets and we'll get into my favorite strategies and the best strategies for beginners a little bit later on inside this video but you need to understand market conditions and the trend that market is in right now so you can understand how to trade it so you can make the best decisions because you don't want to be trading a strategy that works great in a trending Market when we're in a Consolidated Market you don't want to be trading a strategy that works great in a consolidating market more more in a trending market so it's extremely important to understand what those are now we also have markets that are called I like to call them breakout markets and basically it's the same as ranging markets except sometimes it'll range and then it'll break out so we'll be going up it's it's really a hybrid between ranging and um trending markets so it'll go up then it'll range for a little bit you see we're in a little bit of a range and then it goes up and then it'll come down range for a little bit and then it'll go up and break out to the upside now the same thing can happen to the downside where we can be going down then it can range for a little bit then break out to the downside then range for a little bit then break out to the downside again so there are the three different markets the main ones really are the consolidating market which is the ranging market and we have trending markets then also we have what I like to call a breakout Market which is really a hybrid between a consolidating market and a trending market so now that we understand exactly what technical analysis is we understand candlesticks we understand Candlestick patterns we understand typ of type of markets now it's time to go over indicators I kind of explain to you guys that indicators are a little bit of a a cheat code or tools that can be used to help you in your analysis of the market a lot of technical analysis uh Traders will use certain indicators to help with their strategy so in this segment I'm going to go over what indicators I personally use and which indicators I would suggest for you guys to probably try out it might help you out in the beginning of your journey or if you are just trying to get used to trading and need a little bit more help on determining if price is going to go up or go down I'm going to show you guys which indicators I personally suggest you guys can feel free to look up any other indicators but to be honest with you guys indicators are not going to make a break you I personally rarely use indicators and I'm a very successful Trader I know a lot of successful traders who don't use indicators a lot and I also know some successful traders that do use indicators and their whole strategy is based off of specific indic indicators but I want you guys to be aware of indicators that you guys can test out for yourself and see if it's something that you want to have for you guys to be able to use in your trading but like I said it's not a necessity you don't need indicators but it can help you so let's Happ to a couple indicators that I personally like so here if we come over to indicators we can type in really any indicator that we want we can type in moving average which is you've probably heard of a moving average before which is what a lot of people use basically all a moving average is it's a line you see the line popped up on my chart here as soon as I pressed it it's this blue line right here but it basically just tells me what price has done over the past couple candlesticks and what I mean by that is we're on the 5 minute time frame for the most part um if I double click on the moving average or if I hit this drop down right here next to Ema or whichever one you had clicked this is where all your indicators would be under this drop down but if you click this little setting symbol you can actually come in here and change the numbers up so for moving average keep in mind I really use moving averages too much but a lot of Traders use them and you guys probably should test them out for yourself but what this length means basically it just means the amount of candlesticks that is taking the average of the moving average just takes the average price of what where price has been over the last blank number of candlesticks now in this instance the length is nine which means the last nine candlesticks the price of where the average of where price has been over the N last nine candlesticks is where this line will be if I change this to 50 you'll see it move when I press okay and now it's taking the average price of the past 50 of these candlesticks and keep in mind one the 5 minute time frame so it pass 55 minute candlesticks now I can do the same thing on the hourly time frame and you guys will see the moving average here you see it's in a different area that's cuz it's taking the the average price of where price was over the last 50 candlesticks but instead it's 50 hourly candlesticks which is a little bit over uh two days that so the moving average is something that a lot of people use and a lot of people use the moving average where if price sells or goes below the moving average they'll just open up a sell or if price goes above the moving average they'll open up a buy that's how some people like to trade it it's a cool tool to have in your Arsenal you could even use it as you would only sell when price is below the moving average or you would only take a buy setup when price is above the moving average so the moving average is one of the most popular indicators that a lot of people use so definitely give it out give it a chance if it's something that you think will help with your trading especially in the beginning being able to tell which direction the market is going in overall moving averages are great for that and feel free to play around with that number um you can put it to 10 15 20 you can put it to any number you want just keep in mind um it's just going to move where the line is because it's only taken based off of that amount of candlesticks and the average price of that now another can another indicator that I personally like and I kind of told you guys about it is if you come over here press indicators and type in Kill zones it's by this person named Oscar vs um I really really like this indicator because it just shows you your trading sessions where it actually started we talked about trading sessions we talked about what time those trading sessions were and this just puts it onto your chart for you so the yellow line by default is going to be the London session remember I told you guys London session starts at 3:00 a.m. eastern standard time I'm in Texas so I'm on Central Standard Time which is an hour behind Eastern Standard Time so my yellow line starts at 2:00 a.m. Central Standard Time which is 3 a.m. eastern standard time and my red line right here is when New York session starts which is at 7:00 a.m. Central Standard Time 800 p.m. 8:00 a.m. um Eastern Standard Time and the reason I like seeing this on my chart is it just helps me understand and see exactly what happened during the last day or while I was sleeping CU I know all of this happened from the yellow line up until um this red line this is all London session remember there is a time when London session and um New York session overlap and that time goes up until 10:00 um Central Standard Time right here just like this so I know exactly what's happened during London session here and I like being able to see that on my charts cuz it helps me just keep track of of the day as well cuz I know this red line means the start of a new day basically new uh New York session trading day this red line also means the start of a new trading day so when I'm scrolling back and looking over previous trades I'm able to see what when the the day changed over basically or when was the most uh recent session before so I really like kill zones it just helps me visually see the um trading sessions and for me that's I like it personally it doesn't really help too much with the trading but it just helps me kind of see exactly and know what I'm looking at on the charts pretty fast now another indicator that a lot of people like and I personally like better than the moving average is something that called the vwap so if you type in here vwap um you're going to see volume weighted average price pop up it's very very similar to a uh moving average I don't know why I didn't pop up my screen here oh go to a different chart really quickly all right so this is a different chart keep in mind don't don't look at the the candlesticks candlesticks look weird but this is the vew up the the green the blue and uh the green little area here this is the vew up but realistically the only part that's the vew up is this blue part it's basically like I said similar to the moving average um what you can do and what I suggest is to go into the settings over here and under uh Style just turn off the upper band and the lower band and the bands fill just so it shows the V up make sure just the vop is checked and you can change the color of this if you want you can make the line thicker if you want you can do a bunch of different things if you want it's just personal preference but I like only seeing the vwap line on it but I trade it similar and I use it similar to how a lot of people use the moving average and that's um with whenever price is below the vwap I'm looking for sales whenever price is above the vwap how these candlesticks are actually above the vwap I'm looking for Buys so realistically those are like the top three ones I'd suggest for you guys to check out there are obviously hundreds of different indicators but definitely checking out Kill Zone so you guys get more familiar with trading sessions a lot faster that'll help you out and then check out moving averages and vwap see if it goes with um kind of your thought process and helps you be able to determine which direction Market is going in so you know whether you should be looking for a buy buy opportunity or a sell opportunity now is probably the most important part this is where we start talking about my top three strategies for all beginners I'm going to break down each strategy I'm going to break down why they work when you should enter into each trade when you should exit each trade I'm going to go through everything you need to know about these three strategies that you guys can take this start practicing it so you can UL start making money today relis from Trading okay so the first strategy we're going to go over is called support and resistance is probably one of the most fundamental strategies that you guys need to know and simply put it's simply stating that when price gets to a certain area the chances of it getting back to that area and doing the same thing that it did at that area is a lot higher so what I mean by that we know price doesn't just go straight up or down or go up down up down up down up down up down up down that kind of thing right so what support and resistance is is we're seeing okay cool in this instance price came roughly around this area right here and every time it got in this area right here it went up as we see here price went up we see here price went up we see price came into here again and went up that is called a support Zone support is always on the bottom now the same thing can happen on the top we can look right here on the top we see price got into the same area and every time I got in this area it went down every time I got into this area it went down this is resistance so support is always on the bottom resistance is always on the top just think of it as price is being supported up by a support because it's on the bottom and price is resisting going above something because it's on the top now the reason why this is so beneficial is because we see and we can be able to predict okay every time price comes in this area it's probably going to go up so we can end up buying when it gets down here to end up making money on this and capitalizing on the price going back up now Vice Versa with vice versa with its selling off resistance zones we know price came in here and we can catch it to sell to the downside now that's the basic of what support and resistance is I'm going to show it to you guys live on the charts as well but that's basically exactly what it is there's a couple things I want to tell you guys though when it comes to support and resistance when it comes to any of the strategies that would talk about when we're drawing our zones keep in mind the reason we draw zones like this and not lines is cuz price doesn't always go exactly where price was at it doesn't always go right here on this line sometimes it'll go a little bit past it sometimes it'll go more past it sometimes it'll stop right above it so we draw zones we draw zones around the areas that's why we draw boxes and I'll show you guys how big or how small to draw your boxes but I want you guys to be aware of that never look for price to come to the same exact point because that does not happen that's not realistic but also another key point to memorize with support and resistance is a lot of times if we're taking the same analogy we'll have a support and resistance Zone imagine price is going up down up down if it breaks above that previous resistance Zone which is up here in this instance a lot of times price will come back down and that previous resistance will actually turn into support zones like that so if we draw it out we had a resistance zone right here price couldn't break above it this time this time or this time then when price finally broke above it a lot of times price will come back down and treat that same resistance Zone as a support Zone this is what we call a break and retest because it broke our previous resistance Zone and it came back down to retest it and it treated that that same res previous resistance Zone as now a support zone now Vice Versa if we have a support Zone down here and price actually comes and breaks to the downside outside of that zone a lot of times price will come back up and end up treating this previous support Zone as a resistance Zone and we can catch sells off of that so obviously this is a drawing um let's go on let's go on the live charts and see exactly what this looks like like in real time right so for instance we see price came right here now keep in mind we don't just randomly draw zones we have to wait for when price gets to a specific area and we see a huge rejection off of it as we see right here price is going up up up up up then it got right here and it end up crashing down selling off hard on it that's what we want to see cuz when we see that then we can go ahead and take out our drawing and draw our box around it remember we're using the rectangle icon it's over here on the drop down next to under brush we'll go to rectangle and we draw it and how I like to draw it most of the time I like to make sure I cover the entire Wick up until the body of the Candlestick that's personally how I like to draw it now I don't it's not always going to be exact like sometimes it'll be down here sometimes right here it's not always exact it really just depends because there's another example that I showed you guys where we see price came and wicked all the way down here the wick came down here and remember in our example about candlesticks when we see a huge Wick in the direction that means price was really scared of this area so that is also a support zone right down here so I would draw a box right here but I'm not going to draw my box along this entire thing covering up the whole Wick and whole body because this box is absolutely enormous so I'll put it I won't put it super skinny but I'll make it a decent size where it covers a little bit of it and um what that shows you and as you can see we came here this is actual price action price came down here then it went up and you see it started going up up up up up then it came back down and we see price again Wicked into here what I mean by Wicked is that just the wick came down here we have a long Wick to the downside it touched into here and then went up so we could have made money on this entry because we could have bought it off of here because we saw that last time it came to this area it ended up going up so this time we know there's a good chance that price is going up now same thing on this one remember I told you guys we saw a huge volume to the upside price action candles going up then we see a huge crash down so now we know we can draw a box around here and just wait for price to come here again so if we um just rewind this a little bit and we just wait and see wait for a Candlestick to come up into the area so we see price touched it we got we got a Candlestick to touch it we see Wicked tapped into it now we don't just enter for sales as soon as it tops into our zones that's not what we want to do keep in mind we we're able to this is on the 1 hour time frame we're able to go down to lower time frames and I'll show you why that's so important but we don't just enter as soon as it touches here we don't just sell it as soon as it touches here we want confirmation that it's actually going to respect this Zone we don't we want it to show us that it's actually going to be moving away from that zone or be scared of that zone again for lack of better terms um and what we can do we can either stay on the time frame that we're on or we can go down one time frame like from the hourly to the 15-minute time frame frame and then we see okay cool we have a nice big red Candlestick remember I told you guys if we see a full Candlestick that looks like this where it's not a lot of Wicks it's just a lot of body that's a good indication that price will end up going down again after that Candlestick so we could have entered a sell right here right after this one right after this Candlestick closed we could have entered a sell right here and made money on price going down if we continue on it we see price continue to go down and down and down and we could have ended up making a lot of money here now the reason why we go down on the time frame versus staying on the 1 hour time frame is because sometimes we're able to get in trades a little bit earlier remember I told you guys when it comes to candlesticks the lower the time frame we go the more detailed we can see the more the more we can see in detail actually so on the hourly time frame we could have still taken this trade and just waited for this big red Candlestick and we would have entered the trade right here now keep in mind when you guys see me hitting these long and these short positions um this is how we plan out our trades on trading view I know I went over it when we were going over trading view but a long position which you'll find right um under here on this when you click the drop down and long position and short position long means we're looking for buys to the upside let me actually template make this um actually I'll leave it but when you first start up trading view it's not going to be these colors I just chose these colors it'll be green for the The Profit side and red for the loss side and the middle line where color changes from white or from red to Green is where you entered that and the reason we use that is cuz we plan out our trades so we click on it it would enter us um it would be as if we're entering into a trade this won't automatically enter us into trades we'll get into that later on on how to actually enter trades but this will show us exactly where we'd enter into the trade so we can plan in remember I told you guys the bottom one which is going to be red is your stop loss stop- loss basically what we use a stop- loss for is let's say we're wrong about the trade we don't just want to hold it forever because we can end up losing a lot of money we want to be able to manage our risk and a stop- loss basically is okay if I decide like for this example right here if I decide to enter a sell right here I'm using a short position CU short means I think price is going to go down like I said long position means price is going to go up if I'm using a short position I'm thinking okay cool I'm going to put my stop loss at a place where I don't think price is going to go above or if it does go above that area then I had just taken a trade that that wasn't going to play out in my favor so I always and I'll get into this a little bit later on as far as entries and exits I always put my stop loss above the Candlestick or the the highest point of which price was before I took the trade so I took the trade right here the highest point price was before I took the trade was right up here as we see on this green Wick so I put my stop loss right above that because if price goes above this most likely I it's I took a bad trade and it's not going to respect this area again it's not going to be scared of this area again price will probably just end up coming up and going all the way up and breaking out of this area but um as that's how we set our stop losses stop losses are extremely important you do not want to not put a stop loss a lot of new Traders will come in here and they won't use stop losses thinking that it just makes them a better Trader guarante you you will never be profitable if you do not use a stop loss you need to use a stop loss and once you set your stop loss don't move it if you see price getting close to your stop loss let the trade end close your trade out don't keep moving your stop- loss A lot of new Traders will move their stop loss causing them to lose way more money because when we hop into trades we set a certain risk amount we're like okay our stop loss is right here so we know automatically if our stop loss is here depending on how big of a position we enter into and we'll get into that a little bit later on inside this video how to calculate that but depending on how big a position we get into we could be like okay I'm risking $100 on this trade I'm okay losing $100 but if you keep moving your stop loss now it's $150 $200 300 400 and you end up losing way more than you originally planned for so we don't want to do that we want to have our trade planned out beforehand with a solid stop loss and then what I like to do as far as my takeprofit that's basically where we want price to go where we're assuming price is going to go for us to be able to make profit on it I always like to Target basically the most recent low point so remember we had the high point right here the low point is right here so if you guys remember our example about swing highs and swing lows and higher highs and higher lows so we have higher high higher low higher high higher low higher high higher low I'm going to Target that most recent higher low or high or high depending where if I'm um looking for buys or sells so if we map this out we had a high right here then a low then we had a um lower high right here and we had a higher low right here then we had a higher high right here so I would then Target that most recent lower low right here I'd move my takeprofit level right there so now we have our stop loss we have our takeprofit and then we'd see if price would come down here and we would end up winning the trade and we did price came through and we ended up winning this trade nicely but like I said back to my example of why we go down to lower time frames it helps us get better entries better entries means we have a better risk to reward risk to reward is an extremely important thing for you guys to understand it basically means the amount of money that you're risking this is how much money you'd make in multiplication of that so when I say things like a 2:1 risk reward ratio that means if I'm risking one I'm making two that could be if I'm risking 1,000 I'm making 2,000 if I'm risking 10,000 I'm making 20,000 so I personally only take trades that have at least a 2 to1 verk to ratio um just because of the fact that that just helps over time because if I lose a trade or if I lose two trades in a row I just have to win one trade and I'm then break even I then wanton all my money back um and how you're able to see that same thing on these long and short positions if you hover over the longer short position and you look right here risk/reward ratio it'll show you it right here so on this trade this is a 2.19 risk to reward ratio so that means if I'm risking $100 I'm risking it to make 2.19 that amount um so that's what risk to word ratio is and that's why it's so important you'll see it on Long positions and short positions as you see when it first starts off it's at a 1: one until I I can drag my my take profit level up and you see the risk reward ratio goes up because I'm going to make way more money because I'm holding it for much longer I can move my stop loss in some make my stop loss smaller and that makes my risk reward ratio smaller as well I mean higher as well because I'm risking less to make more or if I um enter my trade right here if I can keep the same uh takeprofit level and stop loss level but if I move where I entered at if I got an earlier entry you see my risk SW ratio is going up because now my entry actually moved further away from my takeprofit level which technically means I'm making more money cuz I'm getting closer to my stop- loss level which is the amount of money that I'm going to lose lose but if that stop- loss level is smaller than our takeprofit level that amount then we're we have a higher rest reward ratio so it's important that we and it's good not necessarily important always but it's good if we're able to get a earlier entry so if we're looking for buys instead of entering all the way up here we could enter right down here and have a three to one risk reward ratio versus entering up here and having a one: one rward ratio so how that looks in real time I told you guys this was our trade originally remember we entered right here stop loss right above that recent swing high and we targeted that recent lower low or our higher low technically and this was our entry right here so with that we have a 2.21 r to W ratio but that's us entering on the 1 hour time frame because we don't we're not able to see a lot of data plus we have to wait for a whole hour to close or a whole hour to end before we can actually hop into a trade what we can do is go down to the 15minute time frame when we go to to the 15-minute time frame remember I said okay we saw it come it tapped into our Zone here our place where we were considering selling because we know it's scared of that area um and then we saw this big Candlestick here that had a big body and no Wicks which just shows us that there's a lot of selling pressure there's a lot of volume to go down so instead of our entry being right here which is where originally was when we entered on the 1 hour time frame we could have got an earlier entry and entered right on this Candlestick right here we kept the same stop loss we kept the same takeprofit of that swing low and that swing high but we entered earlier which then turns our 2.21 risk to ratio trade into a 4.71 risk to ratio so we'd actually end up making four times the amount of money that we risked versus only making two times so that's a key obviously we can go down as well to the 5 minute time frame we could have technically entered right here uh we could have went to the 1 minute time time frame if you want it as well and entered even earlier but one thing to keep in mind I know it sounds good to just keep going down on the time frames but one thing to keep in mind and what I always tell people is the lower time frames lie more and what I mean by that is that a support or resistance Zone that you draw remember we're talking about support and resistance strategy a support and resistance Zone drawn on the one minute time frame is not as strong and respectable as the support and resistance Zone drawn on a 5 minute time frame same thing a 5 minute support and resistance Zone isn't as strong or as scary for a lack of better terms as one drawn on the hourly time frame or hourly one isn't as strong or scary as one drawn on The Daily time frame so um you have to be careful when you're going to lower time frames yes it can give you a better entry which in turn gives you a better risk to W ratio but it could also be what we call a fake out where it isn't actually rejecting at that area because it lies more it is it's more sporadic but that's basically what the support and resistance strategy is what I like to do is I go on the hourly time frame and I'll draw my support or resistance zones I'll try and find areas where price had huge rejections off of where price was extremely scared of I like that analogy scared of it makes it easier to um kind of tease to people but where price was scared of once I draw those areas out then I'll go down to the 15minute time frame or the 5 minute time frame and I'd wait for an entry Candlestick and an entry Candlestick is basically a Candlestick that I'd be okay entering on because I see it's respecting that area it's still scared of that area so for instance on this one you guys remember this is the Candlestick that kind of showed us that we're scared of it that that price was scared of this area after it tapped into our box here I'd enter it stop loss above that that last high point if we're um looking for buys and I'm always going to Target that last swing low area if we're looking for sells now Vice Versa let's say we're looking for buys as well right let's say we have a support Zone this is a resistance Zone let's say we have a support Zone remember we drew the support zone right down here price came here and we had a huge Wick off it which means price was scared of it price did not want to stay down there so I drew my zone here now I wanted to wait for price to come back in here for me to buy if I just entered on the 1 hour time frame I would have technically entered right here right cuz price the body of price was right here so I would have entered right here and I'd have to put my stop loss below that swing low right here that that last low point which is right down here that Wick and then I could Target my last swing High which would be up here right but in reality this is only a082 to1 risk ratio this is not a good risk ratio so what I could do to get a better entry remember we can go down to a lower time frame if we go to the 15minute time frame we can see okay cool price came down here and then we ended up seeing this Candlestick remember I showed you guys and I told you guys when it's small body but Wicks on the top and the bottom long Wicks on the top and the bottom that tells us that there's uncertainty and when there's uncertainty at a area of Interest a support or resistance Zone there's a high chance that price is going to then turn and go the opposite way so I'd probably end up buying right here I'd probably end up hopping into the trade right here because I see what this is called a dogee Candlestick I see a doy Candlestick I'd enter right here I'd put my stop loss right below the lowest of where price was the lowest point of where price was which is right here and then I Target that next swing high so that next swing High could be right up here I Target it and then let's see if this plays out and it did price ended up hitting our takeprofit without hitting our stop loss here this was a nice 4.3 to1 rward ratio and it's simple as that so like I said first step is coming over here on the hourly time frame looking for the support or resistance zones you can spot them all over the more time you put into this like I told you guys in the beginning of the video the more time you put in this the faster you'll be able to understand it and be able to spot them like I can spot them extremely fast like I see this zone right here remember I told you guys it's not always going to come to the same exact area so don't look for price to come to the same exact area that's why we draw zones or boxes we see price came here and wet up price came into it again right here and went up price com into it again right here and went up we could have caught two trades here buy right here and a buy right here um we have resistance zone right here it came right here and sold down it came up over here again and sold down we could have made money on this one and it came again you see this huge Wick that we had this huge green Wick we could have sold off of here as well so there's opportunities after opportunities when it comes to this strategy it's a very very easy strategy for beginners because like I said all you have to do is get used to finding these support and resistance zones this is another resistance Zone multiple rejections here we have another support zone right down here multiple rejections here this like I told you this strategy is extremely simple it all it takes is some Pro okay so the next strategy we're going to go over is very similar to the support and resistance strategy except instead of them being completely horizontal they're actually slanted and we call these trend lines so we just went over support and resistance where it looks just like this we draw our boxes we draw our boxes and price goes up down up down up down in them and respects them just like that now as you see right here we have trend lines this is price price is trending to an upside price is trending to the downside here and it's respecting a pattern along a line we don't draw boxes for trend lines um because we can't really make a a box diagonal um we use these lines right here we call them trend lines and we just draw and connect the points it's kind of like connecting the dots honestly if you really just um think of back when you were a kid and you you like connected the dots that's simply all trend lines are um it's always going to be on a horizontal path just like this so when we see prices trending to the upside like this we see we have a trend line here prices every single time it touches this trend line and ends them going up it gets close to the trend line goes up touches the trend line up touch the trend line up that kind of thing that's all a trend line is same thing vice versa when price is going down touch the trend line goes down touch of the trend line goes down touch of the trend line goes down that's simply all it is so a lot of times we can just um use the same exact strategy or thought process as support and resistance where as soon as price gets close to or around our trend line and touches our trend line wait for that entry Candlestick that entry rejection Candlestick similar to how we waited on the support and resistance one and I'll show you guys examples of it right now that way we can catch sells off of these trend lines now let's show you guys a real life example of this so let me actually replay this back here so you guys can see it so we see right here price is going up down up down up down right up down up down up down up again down every time it's came up here and and touched this trend line it sold down or gotten close to it it's sold down and that's what we want to see realistically in order to see a trend line we need to see at least two times it's respecting the trend line we won't this is not something how we do it on the support and resistance Zone where we just see one big rejection off of an area we need to see at least two off of our trend line to make sure it's legit so in this instance for the most part um this these two first touches right here this just solidifies our trend line so once I saw this once I'd see this I'd then be like okay let's draw that trend line let's connect the dots right so we connected all these dots right here now all we have to do is wait for price to come back up to touch this trend line and give us a reversal Candlestick so this technically didn't touch it it got close but it didn't touch it so we won't count that but price came right here and ended up touching it right here touched it and gave us an entry candles um Candlestick so we could have technically entered on this entry Candlestick right here stop loss same thing like I said before above that swing that last swing high that most recent swing high and targeting either a 2: one 3 to one or sometimes even holding it all the way down to the last swing low we could do that if we wanted now that's a pretty good good trade a pretty decent entry right there but same thing when it goes to support and resistance we can just go down to the 15minute time frame and get a much better entry you see right here we had our Candlestick touch it right here and then look what we have a doe Candlestick so we could have entered right here on this dogey Candlestick putting our stop loss same place above that swing High targeting a we could have went for just a 2 to1 risk W ratio we could have targeted down here we could have targeted right here because this is a swing low right here we could have uh targeted all the way down here although I don't think price ended up going all the way down there but either way we could have made an insane amount of money just by using this trend line strategy we just waited for at least two rejections for us to form and create and draw our trend line then we wait for price to come back up to that trend line give us our entry Candlestick our reversal Candlestick right here and be able to capitalize on that and make money on that that would have been a a beautiful trade now I believe I have another example here okay so here we are with another example this time price is going up so we see price came down then it went up came down again right here then it Consolidated for a little bit came down up down on the trend line once again and went up so same thing with this instance we could have the first two remember that's when we're drawing it so these first two we wouldn't trade these first two this is where we actually saw the trend line being formed so now the third time after we've actually formed our trend line we'd wait for price to come back down into it and we could hop in on this Candlestick right here technically we're on the hourly time frame we could have hopped in on this one because we had that huge Wick after it touched our trend line which just shows us that price is scared of this trend line stop loss below there targeted a recent High Point which would be right here uh we could have done that or we can just go down to a lower time frame get a much better entry you see we're able to come here and get our dogee Candlestick right we have our small body with Wicks on the top and the bottom we could have entered right here targeted that same area and got a 4 to1 risk word ratio so if you risked $100 on this you would have made $400 if you risked $1,000 on this you would have made $4,000 if you rised $10,000 on this you would have made $40,000 simply like that simply by waiting for the trend line to come down create the trend line and then wait for it to touch our trend line again give us that entry Candlestick and hop into it it's literally as simple as that and I use the same parameters as far as entering into it I always put my stop loss below that recent area before I hopped into my trade and then I'll always Target a recent high so a recent High could be right here or up here but you could also just go and go for a two to one risk to toward ratio if you want a 3 to1 R ratio if you want it's really up to you and after when you're back testing this and testing this strategy out whatever you're more comfortable with um it's completely up to you but I do encourage you to make sure that it's at least a 2 to1 risk to ratio you don't really want to take anything less than that because if you lose a trade it's going to take you multiple trades to make your money back and you don't want to do that you want to be able to make you want to be able to even if you lose more trades than you win you still want to be profitable which is what will happen if you have a high rward ratio because you can realistically have a 30% win rate but with a 30% win rate in your always getting a 3:1 or 4 to1 risk ratio no matter if you lose um what six out of 10 trades those four trades will still make you way more money than you lost so that's why it's important to have a good risk to ratio and don't just go for these onetoone risk to reward ratios but other than that that is what I like to call trend line reversals that's another amazing strategy for beginners it's super super simple super super easy to be able to comprehend it just takes a little bit of time in the markets and just practicing on the charts looking at charts to be able to see these patterns like I can see these trend lines very easily because obviously I've been doing this for a very very long time I can see this one easy I can see we have another trend line right here just like that I can see we have another trend line right here I can see we have another trend line right here like it's it's the more time you spend on the charts the faster you're going to be able to see this we could have made money right here remember we have our two bounces which is how we draw a trend line then that third bounce we could have bought it right same thing right here one bounce two bounce we could have made money on it buying up here one bounce two bounce we could have we actually would have lost this trade right here but this actually Segways me into our next strategy which is what I like to call a breakout strategy it's probably one of my favorite strategies ever it's great for new Traders it's great for people that like to be in and out of Trades very fast it's great for people that um like I said are new and it's not much different than our support and resistance or our trend line strategy so let's hop into that strategy so what is a breakout strategy and how can we make money on it so if you keep in mind our support and resistance strategy imagine this is our resistance right up here we'll just use resistance for this example price comes it's respecting our resistance nice nice nice maybe we made some money off selling off this resistance but then the time comes and price breaks above it price goes above our resistance Zone this is what we call a breakout that means it's breaking out of either a support a resistance zone or a trend line and the reason why it's so powerful is because when it breaks out of these support or resistance zones it breaks out of it very very strong very very fast we can make a lot of money in a short amount of time with these things that we call breakouts and how I like to answer them is as soon as price ends up coming and breaking out of these and we get a Candlestick that closes outside of our resistance zone or our support Zone I enter into the trade I put my stop loss wherever I feel comfortable and I would Target a recent high so when we have our support or resistance zones technically we can make money either way we can make money if price sells off of it we can keep catching sells off of it or with our resistance Zone if price doesn't respect it if it's not scared of it anymore and price ends up shooting past it we can just make money buying outside of that zone now let me show you what that looks like on a real chart perfect example is actually right here so let me um replay this right now for you guys so this is our resistance zone right up here to the top right we see price has just been respecting it maybe we caught a sell right here maybe we caught another sell right here but then we see price is coming right price is coming up here it's coming close and then we get a close outside of our resistance Zone that means when I say close I means the body of a Candlestick closes outside of our resistance Zone we're not talking about the wick we want the body of a Candlestick to close outside our resistance Zone and when that happens I enter a trade most of the time I'll put my stop loss right below that Candlestick that closed outside of it most of the time that's what I do sometimes I'll put it below the last lower high or higher low depending if we're looking for buys or sells this is our most recent higher low right here remember we have so price came down up down right here came up then it came down right here right to this Wick and came up so our most recent higher low is right here so sometimes I put my stop loss below there but most of the time I'll just put it below the Candlestick that I entered on which is the Candlestick that I that closed outside of our box and then what we can do we can do the same exact thing we can Target more recent swing highs or swing lows so if I I'd have to most of the time you're going to have to zoom out a little bit and look to the left we see okay over here price came up here and then it sold down so maybe next time price comes up here it's going to sell down again so maybe when price gets up here with our breakout we could just hop into this trade and we can see how this plays out so we we go we go and it goes up and we actually end up winning the trade now for this strategy I don't really like to go down too low of a time frame the lowest I'll go is on the 15-minute time frame most of the time and as you see would have got a similar entry on the 1 hour time frame we entered up here but the Candlestick that closed outside of um our box the first time would be this Candlestick right here so we technically could have moved our entry right down here which made our uh rist SW ratio basically a 3.1 risk to W ratio versus it was originally around a 2 to1 risk to toward ratio which works out pretty nicely but I don't really like going anything below like the 5 minute or the 1 minute especially as a beginner I would not suggest you going any much lower than the the 5 minute for this breakout strategy or really any of the strategies for the most part cuz remember the lower the time frame the more price lies so all that's literally all we're doing we're waiting for price to close outside of our zones we're entering in it we're putting our stop- loss below the Candlestick we entered on and we can either go for like I said a 2 to1 risk to ratio a 3 to1 risk to Ratio or we could just zoom out and see what where price rejected heavily off of previously that's exactly what we did right here we see price when it got here it sold off heavily so we might as well Target this area right here because price if price comes up here again it potentially could end up selling off again which it didn't end up doing that but we can't always um know what price will do it's just a safer bet to kind of get out at areas where price might end up turning into a resistance Zone remember we were just in a resistance Zone price could have turned this zone right here right into a resistance Zone and ended up respecting this as a resistance Zone but as we see this in this instance price did not end up doing that now this works vice versa on sales as well if we want it to catch breakouts to the downside right in this instance where we have a support zone right down here it was respecting it it was respecting it and then we see this Candlestick right here where the body remember the body of the Candlestick we don't care about the wick we want the body of the Candlestick to close outside of our resistance Zone it closed outside of it we could have entered a sell right here stop loss right up here and we could have targeted really anywhere right we could have targeted right down here we could have targeted these lows right here we could have just went for a 2 to one we could have went down to the 15minute time frame and we we would have had the same entry on this Candlestick right here but um realistically sometimes we'll have a better well most times we'll have a better entry by going down to the 15-minute time frame um so we really could have done that it works the same exact way with buys or sells now keep in mind this is for support or resistance we can do the same exact thing on trend lines if you guys remember my example from the previous strategy where we was talking about trend line reversals and things like that we have our two rejections we need to have our two rejections to draw a trend line we see price came and then it broke outside this trend line and closed outside this trend line we could have entered right here when it closed outside of our trend line stop loss above that Candlestick and we could have targeted the last swing low the last swing low is right here this is that last lower low that we had we could have targeted there we could have just went for a 2:1 risk W ratio we could have went for a 3:1 it's really up to you but that's how I enter it as soon as it closes outside of our trend lines let's see if we get another example here perfect example right here where price came we respected it we could have made money on these CS right down here but then we see price came up out out of it we got a close outside of it stop loss below our entry Candlestick targeting a recent high up here we could have targeted up here we could have just went for a 2 to1 RK to ratio like I said it's completely up to you but that's how enter these breakouts and as you see on all of these examples I told you guys when price breaks out of a support or resistance Zone it breaks out of it's strong it's fast it's going to um you're going to end up being being able to make a lot of money very fast um because it's breaking out of these areas of constraint think of it as a rubber band The more you pull a rubber band when you let go of it the harder it's going to break the faster it's going to come back and snap you in your hands or whatever it is same thing when it comes to trading support or resistance so the more times it's respecting a resistance Zone without breaking through it the stronger that breakout is going to end up being same thing when it comes to a trend line the more times it's respecting this trend line when it finally breaks out of it it's going to break far right so that's why I love breakouts so much that's why a lot of people love breakouts so much because you're able to make a lot of money very fast and that's how I enter them all I do is wait for them to close outside of those areas I put my stop loss below those areas uh below my entry Candlestick and I'd either Target a recent swing high or swing low or lower lower low or lower high depending if I'm looking for buys or sells or I would just hold it for a 2 to1 risk to Ratio or a 3 to1 risk to ratio depending on however my I feel comfortable with so that is my top three strategies that I suggest for all of you guys to start practicing start working on start getting comfortable seeing these support these resistance these trend lines these breakouts because if you could could just Master those if you could just take one of those and master one of those I promise you you'll make a ridiculous amount of money simply all I do is breakouts and support or resistance that's literally all I do and that's how I'm able to make you guys have seen me on social media if you guys have not seen me on social media I'm Post Live trades all the time where I'm easily making 8 9 10 20 30 $60,000 from simple trades within a couple of minutes and all I'm doing are these support and resistance zones and these breakouts I'm not doing anything crazy when you see all these Traders making money they're not doing anything crazy their base is always built in support and resistance and breakouts that's what it's all built in so if you can Master this this I promise you you will absolutely kill it now obviously there's other strategies that could be implemented in it to make it a little bit better make it more profitable make it faster make it have a higher win rate or have a higher risk to work ratio but the base in Foundation is always going to be in support and resistance trend lines and breakouts so you need to master these so you guys understand can you guys understand sessions you guys understand a lot of these different things strategies all this stuff support and resistance trend lines but how the heck do you test it this is a very important part because you need to put in the work I told you guys in the beginning of this video the amount of time you put into this and the amount of discipline that you have over yourself determines how fast you'll be able to start making money inside of this career or this space so the important thing that you need to do is back test as a new Trader you need to get used to seeing the charts you need you need to get used used to spotting support and resistance spotting trend lines spotting breakouts so how do we do that effectively without cheating so we hop over here onto trading view you guys saw me use this tool before I told you guys about this replay this bar replay feature on trading view keep in mind I believe you need the paid version of trading view to actually use this I'm not sure exactly how much it is you guys can see but I'm pretty sure they have like free trials things like that so use up that threee trials probably like a week be on here freaking 5 6 7 hours a day back testing so once you have the replay featured whether you you're on the free trial or you paid for it um this allows you to actually just go back in time for the most part and be able to hide the the price action because a lot of times we'll be let's say we don't have this on and we're just like practicing we'll be like okay this is a support Zone nice I would have bought right here and made money going up but it's everything's freaking clearer in hindsight I think that's the terminology I'm not sure but everything's clear and hindsight when we can see everything that was going to happen it's a lot easier for us be like oh we got this but the cool thing about the replay feature is we can just replay to a random place we don't even have to look where we're going a lot of times I'll just close my eyes and scroll for the most part and then just land myself at a random place and then just practice trading at that point so we'll see okay cool we have a resistance zone right here technically we also have a trend line going on right here um now let's see if price will come back down we use these these buttons right down here so if we click this it'll just move forward one Candlestick if we press this play button it'll actually just kind of play and start moving by itself but okay now we see price came down into our Zone again right here let me actually go back in time so you guys can see exactly what I'd be thinking so we see price came down into this support zone right down here now we know we just have to wait for an entry Candlestick we all know what an entry Candlestick looks like cuz I've went I went over it so this next Candlestick a nice big body Candlestick with small Wicks that's a nice entry Candlestick we could have entered right here put our stop loss right below that Candlestick because that's that last swing low after our our um entry and we could have targeted this recent high right here or we could have went for a 2 to1 or whatever you'd want to do and you just practice like that then you'd be able to fast forward and see okay this trade it started to work out it actually got to this last swing high right here and then it ended up reversing and then it tapped into the Zone again it didn't necessarily give us a nice entry Candlestick though but you see it ended up going going up so technically we could have taken not this Candlestick entry but we could have taken this Candlestick entry right here and you're just going to continue doing this day after day after day you're going to keep going um back in time close your eyes doing whatever it is looking at the chart okay what am I seeing as soon as I do this I see a trend line right here I see another trend line right here right I see a resistance zone right up here right and this doing this over repetition realistically you can do like I'd say like 50 trades an hour doing this 50 trades 60 trades 70 trades an hour um doing this and it just helps you get your reps up it helps you get much better at seeing resistance Zone seeing trend lines you can see how price reacts at these specific things so we see okay price came down here touched this trend line and ended up breaking through it to the downside but we see we have this Candlestick where it looks like price is scared to go down more so it's probably going to end up going up more then we're able to see it went up and now it looks like it's coming to this trend line again we didn't get an entry Candlestick for sells off this trend line um we got a long wick on the bottom as well which means it's scared right now it's just having small candlesticks again which I told you guys before small candlesticks means there's indecision the next Candlestick is small again and the next one should be a pretty big Candlestick oh well still small volume here yeah so either way you get to just practice it you get to test and get good at finding these trend lines finding these support and resistance zones and drawing them out that's simply all you do and an important part of back testing is you want to track it right so if you're let's say you're back testing the support and resistance Zone every single time you take a trade right let's say you take a trade right here then you it's coming up here and you buy off of here right you buy right here you had your stop loss right here take profit up here if you won this trade write down either on a notepad a spreadsheet uh um there's trading journals and things like that I I have a couple that I recommend and I'll tell you guys that a little bit later on inside this video when I get into the platforms and everything like that but you can just write this down really on a piece of paper if you want to or spreadsheet just write down okay I won one trade I won a support and resistance trade I believe I won it because it had two rejections at my support Zone and I had my entry Candlestick criteria and then I targeted the recent High just write that you won the trade what strategy you were using when you won the trade and why you think you won or lost the trade vice versa if you lose it I think I lost the trade because this this and this I lost it because it didn't close outside my trend line or it didn't give me a good entry Candlestick criteria right the trade that you took the strategy that you took whether you won or lost it and why you think you won or lost it because you need to keep these in your mind because after a while when you when you trade 100 trades you're going to look back and see patterns like okay every time I lose it's because this this and this so let me not do that that and that that way I won't lose every time I win it's because this this and this happens so every time I see this this and this I'm probably going to end up winning the trade and just helps your confidence so not just back testing but also journaling your back testing is extremely important so make sure you're putting in that work you're putting in those hours of back testing like I said just close your eyes hit that replay button go to random point and a cool thing another thing that I like to put on as well like I told you guys before is putting on those kills That Kill Zone indicator because realistically you're not going to be trading at 3:00 in the morning you're going to be trading New York session most people are going to be trading New York session if you trade London session then there's that but if you're trading New York session you should be trading only during that after that that red line comes on so you shouldn't be trading during none of this other time right here because that's not what you would trade in real life you want to see how the market is in real life and how you would actually be trading it so you you'd go to the red line wherever the red line is once the red line comes then you'd sit there okay I see a little resistance zone right here I see a little trend line right here honestly but it's already kind of broken that trend line you you would mark it up just like that you wouldn't be trading it randomly um so that's a cool little thing to put on that's why I like The Kill zones cuz you're able to see what time of day it is a lot faster especially when you're back testing which is extremely important so back test back test back test joural your back test the reason why you won or lost each trade why you believe you won or each trade what strategy you were using all that stuff that's how you back test back testing like I said is extremely important if you are complaining about not being profitable or not understanding the charts or not being able to see support and resistance but you're not back testing you're doing yourself a very huge disservice and we already know I already know why you're not succeeding in it because you're not putting in the work to back test I tell people if you can realistically just take 30 minutes a day to back test you'll be able to learn this skill a lot faster than someone who's not not back testing obviously if you can put in more time put in an hour 2 hours every single day you'll get there a lot faster but please please please just put in work back testing I promise your future self will thank you now I want to share with you guys one of my most valuable Secrets something that not a lot of people know about that makes trading way easier I'm not going to lie ever since I found this out and figured this out it's helped me to be a lot less stressed when trading be able to see the charts a lot clearer especially as beginners I know the people that I've personally helped it's drastically helped them out in the beginning of their Journey helped me make more money by being confident holding my trades longer it's just so many benefits to this and it's a simple simple tweak on trading view so let's hop into it so we went over candlesticks right candlesticks we went over what the bodies mean the Wicks mean these are regular candlesticks this is what most Traders use most people like using regular candlesticks and they're only taught regular candlesticks but I personally like these other things called hinachi candlesticks now if you come over here in the top and hit the drop down by the bar style and press High Kashi you'll see the candlesticks change you see these candlesticks versus regular candlesticks these candlesticks versus regular candlesticks you can probably see the difference Here regular candlesticks are very choppy you see it's the same price action that you're going to see on ha kanashi kand 6 but it's going to look a lot smoother and cleaner so if you look look at this we see there's green red green red green red green red bunch of different colors it just looks super super confusing and choppy if we go to hiashi candles we see it's a bunch of green pulls down a little bit for red bunch of green pulls down for red up here it makes the charts way smoother way easier to see which makes it easier to find trend lines to find support zones to find resistance zones oh that was a horrible drawing to find resistance zones to find trend lines like I see it just it just it just makes it way easier to spot all these things with hinachi candlesticks versus on regular candlesticks it can look a lot more cluttered a lot more choppy which as a new Trader can be extremely confusing now there's a couple differences when it comes to ha kinashi candlesticks and I'm going to point them out for you because it can actually be really great when it comes to specific strategies there are certain strategies that I actually use that I only use hinachi candlesticks on so uh let me break down exactly what these candlesticks mean in each and every one of these candlesticks because they're different the Wicks mean the same thing as regular Candlestick Wicks it just means where price has been throughout this the entire candle throughout what we're on the 15-minute time frame so this is where price has been throughout the entirety of 15 minutes same thing if I go to the 5 minute or the 1 hour it works the same as that as far as the Wicks now the body is completely different and where price starts is completely different so the body of the candlestick always starts in the middle of the Candlestick before it it doesn't start where price actually is I don't want you guys to look at the bodies on regular candlesticks and think that's where price closed at Price did not close here price did not close here or here the body of where the Candlestick is is the average of where price was throughout the entire Candlestick so for example on this Candlestick right here it started in the it always starts in the middle of the previous Candlestick so this candlestick you see the body started in the middle of the Candlestick before it the body started in the middle of Candlestick before it the body of this one started in the middle of the Candlestick before it there's that so that's not where price opened at right this is just where the high Kachi Candlestick started but the body of where it closed at right here when the price ended let's say this is this is the 830 Candlestick right here this is the 845 Candlestick when the 830 cand stick ended the average of where price was throughout this entire 15minute period is right here so price could have been all the way down here price could have been up here down here up here up here down here but the average of where price was throughout the entire time was right here this is not where price closed at I have to keep saying it so you guys understand it this is not where price closed at on ha kanashi candlesticks this is the average of where price was throughout this entire Candlestick same thing in this example the average of where price was throughout this entire Candlestick was right here on the body of this Candlestick right here price could have been up here price could have been down here price could have even closed right here the price could have closed right here but still the average of where price was throughout this entire 15minute Candlestick was up here and that's exactly what each Candlestick means same thing with the bullish candlesticks so the the body to the upside is where the average of price was on bullish candlesticks on bearish candlesticks which means price is going down the average of where price was is on the bottom is on the bottom of the Candlestick right here so that's where the average of price was this Candlestick this is the 830 Candlestick if we go to regular candles right here and look at that that same Candlestick we see this same Candlestick actually ended up closing down here but the average of where price was was up here throughout the entire Candlestick so that kind of tells me that price was chilling around here most of the time then at the end of the Candlestick price just shot all the way down here and it ended up closing down here so it's very great for being on hinachi candlesticks and being able to see the market a lot clearer you're able to see resistance support zones trend lines a lot easier because there's not as much noise there's not as much up or down colors or red and and green colors as it would be on regular candlesticks but you have to be aware of the difference between hinachi candlesticks and regular candlesticks by understanding that the body of the Candlestick does not tell you where price open at or where price closed at it's the average of of where price was throughout this entire Candlestick and like I said that's extremely powerful and the reason that's extremely powerful especially for any type of breakout strategy is there are things called fake outs which I told you guys about before where let's say we have our resistance zone right here right price comes here and then it breaks out right it breaks out and remember we enter when it closes let's say it closed right here in our minds we're like okay let's enter into that trade but we didn't know majority of the time it was right down here then at the last two seconds before price before the Candlestick closed at the end of that Candlestick it just shot up here so now it looks like it closed outside of here and then price will end up just coming right back down because it barely lasted above here didn't show us that it would stay up there but with ha kanashi Candlestick if we wait for the body of the average if we wait for the body of the Candlestick to close outside of our resistance or support Zone that means the average of where price was was outside of our resistance Zone which just amplifies our win percentage when it comes to taking a breakout we won't get faked out not nearly as much because instead of us hopping in because it just Wicked above here and was just above here for a couple seconds before it closed we know the average of where price was was above this resistance zone so we can feel confident taking a breakout to the upside it's extremely great for breakouts I suggest you guys check it out and practice back testing with hinachi candlesticks as well and getting used to them I do suggest though that you guys Master candlesticks first of all get used to regular candlesticks before trying to switch over to ha kanashi but once you're comfortable with regular candlesticks and completely understand them then maybe try adding some hinachi and looking at the hinachi candlesticks just to be able to see it and be able to understand it what you can do as well in the beginning what I have a lot of people doing is they'll mark up their charts on H kinashi candlesticks then when they're looking for their entries or they're actually trading they'll just go back to regular candlesticks and that's simply because high can oxy candlesticks make it way easier to be able to see the charts to be able to um understand the charts and see trend lines support and resistance zones things like that so I'd suggest you guys check out hinachi candlesticks get used to them there's a little workaround because on trading view it doesn't actually let you do the bar replay the back testing feature that we talked about with hinachi candlesticks you can only do it on regular candlesticks but there's a work on how to get around out and simply all you do is come over here on regular candlesticks and there's an indicator called type in um hi kinashi candle overlay it's by this person named bjor gum press it and you'll see it'll go over your candlesticks right here but you see regular candlesticks and hinachi candlesticks that's why it looks kind of crazy right now with all the colors if you right click on your chart and go to settings you you can turn off the appearance of the regular candlesticks by unchecking the body the borders and the wick pressing okay then once you do that all you see is that indicator you see the ha kinashi candle Candlestick overlay on top of regular candlesticks but we don't see the regular candlesticks anymore but to trading view we're still on regular Candlestick so we can back test we can use that replay function without doing that whole thing if we go on ha kanashi candlesticks and try and Press replay we get this error that says bar replay isn't available for this chart type so that's a little workaround for you guys if you guys want to back test using hinachi but I definitely suggest you guys Master regular candlesticks first and then try double dabbling in ha kanashi because like I said hinachi candlesticks have literally changed my trading game so we're about to dive into this website and I'm also going to give you a couple more tips for you guys to kind of be aware of when it comes to fundamental analysis so let's hop into this website so the website that I like to come on to see all the news remember fundamental analysis is mainly just about news events and things that directly affect each stock like earnings and things like that I come over here on forexfactory.com it basically plans out and shows you every single news event that's going on for the day it tells you what time is happening tells you what currency it will affect the most it tells you how impactful it will be yellow being the least impactful red being the most impactful and orange being the the medium impactfulness um so I come on here every single morning I see exactly what news is coming on for the day and realistically I don't pay attention to anything except for USD right the currency has to be USD because USD is really what affects most of the pairs that we go over now if you're trading like Euro USD or GBP JPY pay attention to the Euros pay attention to whatever JPY if there are any but for the most part USD will affect every single Market there is every pair if you're trading Forex Futures crypto stocks options anything USD will affect it and realistically the only ones that's going to affect it impactfully is going to be the ones that are red the high impact um expected news so anytime I see that I really just like don't like to trade around that time I'll give it like a 15-minute buffer I won't trade 15 minutes before the news comes out or 15 minutes after it because price can end up doing a lot of craziness like it I could be in a trade and it'll just instantly take me out or something like that it's just not worth playing with and we don't want to gamble with our money so I come to this website make sure there's no news around the time when I'm trying to trade or if I'm hopping into a trade I don't want to be in news given that 15minute buffer also what you can do and what I'll do is I'll go over here on Google and I'll just type in what stock earnings are happening this week um I'll type it in you can come to actually the NASDAQ website and it'll tell you all the stock earnings that are happening because if you're trading like Nas 100 or NQ or ES S&P 500 or ym which is us30 these are all basically just huge they're just a bunch of stocks put together so let's say Tesla is having their earnings realistically if Tesla earnings comes out it can heavily affect the price action of NQ es and ym so you want to be aware of the news events or the earnings events that are coming out about high profile kind of stocks high-profile stocks are like apple Nvidia Amazon Google Tesla things like that um but I just like to come on here just to make sure no huge earnings is coming out at that time or on that day now let's go over what platforms you are going to need to use we went over trading view which is a staple platform or website that you're going to need to be extremely familiar with but now let's go over the other platforms where we actually enter these trades in where we put money into it we're we're actually able to buy and sell and actually enter into Trad so let's go over those right now whether you want to trade Forex or or Futures okay so personally I like trading Futures on this platform called Trader keep in mind when it comes to trading you're going to need something called the platform and the broker right so a lot of these platforms especially when it comes to Futures will be the platform and the broker in itself when it comes to Forex you'll need a separate platform and a separate broker but I'll get into that a little bit later on I personally like trade of eight this is the one that I use all the time when I'm day trading this platform is extremely simple to use it's not too complicated there are other things that people can use like ninja Trader um TDM trade there are a bunch of different other platforms that you could check out iron beam as well if you're not inside the the US check out interactive brokers that's a good one if you want to get into Futures Trading but you're not in the US but personally I love trade ofate it's super super simple to use and easy to use I'll get into showing you guys exactly how to use this platform but I just want to make you guys available or I just want to make you guys informed about this platform form um this is what I personally like using it's literally just called trade evate now this is if I'm trading Futures if I'm trading Forex and want to trade Forex I use a platform called tradel locker.com it's very very similar to trading view but allows you to actually trade through it so the charts are going to look very similar we'll dive into trading view in the back end of it so you guys can actually see it but it allows you to actually trade through it you'll press your buys and your sells you'll be able to actually enter into into positions but since this is a Forex platform you're going to need a broker that to connect to it and I'll leave the broker that I personally suggest in the description down below you'll use that one cuz a lot of these ones can be scammy a lot of them can actually run off with your money or have horrible spreads basically what spread means is if you press buy and Price is Right Here If the spread is too high you can press buy when price is here and it'll get you in all the way up here so just mess up your trade entirely that's why it's important to have the correct and a good broker that you can connect to this platform I've been using literally the same Forex broker since I started off Trading and that was what over 7 years ago now so I'll leave a link for them inside the description down below so you guys can use them and check them out and use it for trade Locker because they work absolutely amazing with trade Locker super good spreads but this is the platform you're going to need to get familiar with now let's hop into how to actually use these platforms okay so starting off on trade of eight once you sign up and create an account keep in mind you have to go in there actually get approved for account all you have to do is really put in your information and they'll approve you within most of the time 24 hours um once you do that you'll be able to log in with your credentials and it'll take you to a screen that looks similar to this you'll probably only have live trading and simulation here you probably won't have Market replay but basically all this is is if you want to actually start live trading come over here you just press click trading and you'll see simulation here which is basically think of it as a demo account a fake account and this is where I suggest every new Trader to be on in the beginning of their trading I suggest people to be on a simulation account or a demo account for at least one month before you go on the live markets and that's because you want to get used to trading you want to get comfortable with trading understand understanding how to use the platform understanding risk reward ratio support or resistance just getting used to trading overall and you don't want to be getting used to trading using real money you want to be using the simulation now there's also something right here called Market replay which you can use to back test but I showed you guys how to do the back testing on trading view I personally like the back testing on trading view a lot more than on trade of eight so you don't have to worry about Market replay as of right now so if we click in simulation here you'll see your chart will pop up over here in the top top uh left corner you'll have whatever pair you want to look at or currency you want to look at if you press the new tab button you can add let's say I want to trade gold so I type in GC now uh I'll leave information down in the description down below so you understand what these monthly codes are where you see u vxz g basically all future contracts expire after around three or four months or sometimes every month and each month has a different monthly code but I'll leave that inside the description down below as well a link so you can see um which one is for each month but most of the time when you type in the ticker that you want to trade in this example GC the first one that pops up is the one that we're going to be trading and then on trade ofate it'll tell you okay when this contract is expiring it'll tell you okay it's time to switch contracts and then it'll switch you to the ngv one then the ngx then the ngz but you'll just be able to click on here press select and it'll add it to your charts here you see I have a couple charts up here the red ones are just because the um contract has expired you'll see there's like um nothing here for the most part but if you come to um the one we just added on which is GC you're able to see a bunch of things over here now keep in mind this charting I don't really use the charting on here too much I more so mark up my charts on trading view then just come over here to actually just press buy or sell right so but there is a way for you to mark up your charts here the same thing as we see on trading view the time period we can change our time frame 1 minute 5 minute 15 minute one hour one day excuse me that kind of stuff we can also change what type of candles six we're on right now I have it on ha kanashi candle 6 you can go to regular candlesticks you can go the chart looks super super messed up right here for some reason but um you can go on hinachi candlesticks you can go on really anything that you want any type of chart that you want you can do line charts then you can come over here and just go in your chart settings and change a bunch of things in your chart settings go to your chart element settings this basically is like if you add an indicator on here because you can add indicators on here as well as you see I have the view up on there that's that white line right there you can add other indicators there's a bunch that you can add uh you just come in here and just find whichever one you want to use you can create a template template basically just means if you want your candles to look a specific color keep in mind when you first open up trade of eight it's going to be green and red just like it would be on trading view that's just the default colors I've changed mine to red and white that's just personal preference now if you come over here to look to the left we can actually see see um a data box which basically just shows you the the basically what's going on where your corser is at the highs the lows things like that I don't really pay too much attention to that for the most part you also have your drawing tools here you can have your same line that you were having on trading view you can put your rectangles as well draw it on there just like you did it on uh trading view but keep in mind I don't really mark up my charts on here for the most part it just is an option if you want it now if you look over here you see we have actual options to go into trades so you have your buy market sell Market buy bid sell ask I don't pay attention to buy bid or sell ask I only use buy market and sell market and limit orders and things like that and I'll explain what those are so buy at Market basically means we're buying wherever price is at right now so we see price is right here let's go to regular candle 6 we see price right here is right here on ym if I wanted to hop into a sale right here I can just press sell market and this number right here basically just tells you how much contracts you want to buy and like I said in the description I'll leave links for you can see how much each contract is worth and how much each tick is worth for each contract so you can calculate your risk accordingly but right here let's say I wanted to open up one contract and I wanted to sell one contract this says one I press sell Market as you see now I'm in a trade you can see my account here my equity which which is basically how much money I have inside my account and then you see my open p&l which is the profit and loss this is the amount that I'm up or down currently so right now I'm up I'm negative $15 when you see when you see the number in parentheses that means you're negative that much when you don't see it in parenthesis that means we're positive that much so technically I'm up $15 right now down $5 so you're able to see it just like that and when you want to close out your position all you do is press exit at market and close so you see I did that now you see our open p&l is not there anymore we see our Equity has went up because we made $10 on that trade minus the fees that it took out and that's basically exactly how you trade it it's not much complicated things kind of going on on this chart for the most part or on this platform it's really just buying and selling now there are things called ATM right so you remember how I talked to you guys about um when we're drawing out our stop losses and planning out our trade our stop loss and our take profits on here is where you would actually Place those stop losses and take profits so for instance let's say we have a um line right here let's say that's our takeprofit level and let's say this is our stop loss level right this ATM basically just they're called bracket orders but bracket orders simply put is just stop losses right so what you would do is hit this gear icon to the to the left of it turn it on and basically what you can do is just come on here keep this in Tex type TP and stop loss and your take profit you can change this to depending on if you always go for a certain amount of ticks as in that's the amount that price is moving up um or down I can say okay after 20 ticks I'll close it or after 20 ticks I'll close it 20 I'll have a 20 tick profit 20 tick take profit sorry and a 20 tick stop loss right um and I can actually save this as an any type of order I want to save it as or I can just put it in as of right now so we'll press Save Right Here and Now you see ATM doesn't say off anymore now it has these little dot dot dots or whatever so now when you see I enter into a trade so let's go and sell market now you see these other green lines so since I'm going for a sell the one that's on top would be my stop loss that means Wherever Whenever price touches this green line it will automatically take me out of trade um and it will stop me from losing too much money same thing with the green one on the bottom since we're going for sales the green one on the bottom is our take profit which is what we're targeting we can actually once we put it on our chart we can drag it up or down wherever we want to drag it so if we wanted to adjust it um to match our lines you see price touched my green line and took me out so it took me out of the trade which is good it protected me from losing too much money but um I want to show you guys this example more I can drag my stop loss and take profit so technically you don't need to put the number when when you're setting up your bracket order or your takeprofit number you don't need to put the actual number you can just get it on your chart once you get it on your chart then you can line up the numbers with your drawing that you have on trading view so remember we have our long position drawing and our short position drawing if we know our stoploss on that drawing is at 14 is at 42725 we can just drag our line there and we know our take profit on that long or short position is at 42 660 we can just drag our line there we don't have to necessarily put it in when we're setting it up we just want to get it on the screen at that point so um that's basically exactly how you use it now there are other things that you can do so I talked to you guys about buying market and selling Market let's exit at marketing close so there are these things called sell limits and buy limits and and buy stops and sell stops basically what that means is okay let's say when price comes up here I want to just get into the trade I want to just get into the trade if price touches right here right I can actually just click on my screen here and press sell one limit and what that'll do as soon as price touches this red line right here it'll enter me into a sell which that means I don't have to sit here and look at my charts I know I want to enter a sell as soon as price gets to this area because I've done the technical analys is and I know price is probably going to reverse at this area that allows you to be able to enter trades without actually sitting there to press sell Market or buy Market whichever way you want to go and as you see since I have my bracket orders turned on it automatically will put in my stop loss and take profits as well and we can drag that so that way when our trade gets triggered in we'll have our take profits and stop- loss triggered in at the same exact time which is absolutely amazing so like I said you can order you can go in Market orders or you can go in these sell limits or these buy limits by just right clicking on your screen and pressing buy one limit or sell one limit whatever you're trying to do at that uh moment I'll close out all of those trades though but that's basically exactly how you use trade ofate um you don't really need anything else for this platform like I said all you're doing is entering in and out of Trades but that's if you're trading Futures now let's go in trade Locker to show you guys how you would actually trade Forex on that platform okay so here we are on trade Locker you can actually just go to the website they do have an app but website works just fine if you just go to live. Trad locker.com or when you sign up for the broker that I uh recommended for you guys like I said I'll leave a link for it inside the description down below so you can get signed up with it to connect it to trade Locker because you need to do that they'll give you a link to just press and they'll give you your login instructions they'll give you your your um login email as well as the password to log in to connect it into trade locker but once you connect your broker to trade Locker this is the screen that you're going to see same like I said it looks exactly like trading view we have the same tools here we can hit the drop down and we can star whichever ones we want to Star we want to add it to our favorites list it's the exact same thing as trading view but the only difference is that you can actually trade on the side over here so down here you'll see we have our balance we'll have the current profit and loss if we're in anything equity which is basically the same as balance margin used margin available and margin level you don't have to worry too about too much about that as of right now I'm just kind of getting you guys into being able to trade it in the bottom left corner right here if you click that that'll show your accounts I don't want to open up my accounts cuz then it'll show my account numbers and it'll show you all the money I have in it and I don't want yall to try and do something funny you know what I'm saying but um you'll click that it'll show you your accounts but over here is where you can find what you want to trade so let's say I want to trade gbpjpy right so I type in gbpjpy it'll give you a couple options I like most of the time just going for the pro ones so if you click that the chart will change and now it's on that chart the GBP dopro um now this right here is how you enter into trades so when it comes to Futures the size of your position is talk ter is determined by contract size when it comes to Forex the size of your position is determined by lot size that's why you see right here lots you're able to put in okay I want to buy one lot of this you want to buy5 lots of this you want to buy 10 lots of this or whatever right now I'll leave a lot size calculator inside the the description of this video as well so that you can learn how to calculate it because it's going to be different for every single pair that you kind of bring up but the cool thing about trade locker and the broker that I have that connects to trade Locker is if you hit this little up button right here it'll actually do the calculations for you so let's say you put in your long or short position let's say you wanted to sell right here right and you put your stop loss up here or wherever you want to put it and let's say you want to put your take profit down here you you can see okay your stop loss is what at 1 nine um 1 19759 or whatever right put our stop loss in we can just drag our stop loss right there we can put press we can click on take profit and drag our take profit where we want to have our take profit at and then if we click on this risk this we check this risk thing right here we don't even have to calculate the lot size we'll check in risk and we'll just put how much money we want to risk on the trade so if you go under stop loss and next to p&l let's say you want to risk $100 on the trade it'll tell you exactly how many Lots you need to actually open up to risk that amount with your given stop- loss that you have which is makes trading so much simpler you don't have to go to the lot size calculator and any of that you'll just put in your stop losses and your take-profit numbers and then you'll make sure you click that risk and then you'll be able to hop into the trade once you change however much money you want to risk so let's say I want to risk $500 you see it changed it to 4.02 Lots let's say I want to risk $300 it changed it to 3 point or 2.41 Lots which is super super super convenient because you don't have to do the math yourself which is super super dope and that's why I love trade Locker tagged along with the broker that I personally like using so that's really all the platform is it's nothing crazy as far as the charting is the same as trading view the only difference is you have this trading side of it and you can actually um play around with this you can do Market orders remember Market orders is entering exactly where price is at we can put pending orders which is the same as what we were talking about with those those limit orders once you press on pending you see this pops up we can actually just drag this let's say when price gets right here we want to hop into a sell so we'll make sure we're on sale we can hit the same thing of putting stop loss and take profit um I don't know where I put my stop loss here um here it goes let's just put 20 right here so yeah so we can drag this wherever we want to drag it so that way when when price touches right here it'll automatically get us in the trade it'll automatically put our stop loss right here it'll automatically put our takeprofit right here we can click on this risk amount and let's say we want to risk $20 we can do that so we'll risk we'll end up risking $20 on this trade it'll tell us how many Lots we need to do to do that and then we can press sell stop and I don't think I have any money inside this account right here yeah I don't have any money I think 53 cents inside of this account right here that I'm showing you guys U so not going to actually let me open up a trade but that's exactly how you would do it you'd be able to set your pending order which is the same as a limit order for the most part and then you would get into the trade and be able to trade you'd be able to see your p&l right down here as it's going you'd be able to see all your trades over here and um it's simple as that that's how you actually enter in and out of trades on trade of8 and on trade Locker all right you guys so if you are going to trade Futures you do need to be aware of one thing though you will need to purchase what we call Market data subscription that basically allows you to be able to see the charts in real time if you don't do that when you open up a NQ chart whether on trading view or on trade ofap it will say delayed over here and you'll actually be 15 minutes behind so my chart is up to date as you see I have a timer ticking down and my chart is up to date it's 12:20 as of right now when I'm recording this but if I didn't have the market data subscription I would only be seeing the Candlestick at 205 right um which is not good we obviously cannot trade like that we need to see the up- to- date price action so I'm going to show you guys how to get the market data subscription keep in mind you have to do this on both trading View and on trade debate so I'm going to show you how to do it for both of them it's very very simple so on trading view you'll come up here to the top left corner you'll hover over your name go to account and billing once you do that you're going to want to come over here to settings under settings and scroll down and go to realtime Market data then you're going to want to press get real time data and the one that I suggest for everybody to get is this one right here CME Group e money in E mini included it has the CME cbot it has basically everything you need it's $7 a month which isn't bad at all so you'll click on that and subscribe to that and you'll have it on trading view now you need to get it on trade of eight so how do you do that you come over here to trade ofate in the top right corner press application settings then you come over here to subscriptions you'll do the same exact thing you'll come in here press uh under Market data you'll just go to update subscription or say like subscribe or whatever and you'll just get the same thing just get the CME bundle keep in mind you don't need the level two or anything you could just get level one which is about $12 a month so you can just get in there and subscribe to that so that way you have it on trade debate and on trading view now that you guys understand trading you understand technical analysis fundamental analysis you understand how to read charts how to enter trades the platforms that you guys need now it's time for arguably the most important part if you haven't heard this before I'll be the first to tell you day trading is literally 80% psychology and maybe 20% actually technical analysis and the reason being is because really you can learn how to day trade I just taught you guys how to read charts how to look at strategies very fast you can learn this within a week realistically the hard part and which is what stops a lot of people from consistently making money inside of this Market is the fact that they don't have discipline they don't have the right mindset that allows them to not just make profits but keep profits and keep profits over a long period of time and that's what I call being consistently profitable we don't just want to be profitable one day one week one month we want this to be something that we can stick with for years and consistently make money just how I have been able to do it and ity it's because we have to have a certain mindset and that mindset is made up of a couple things obviously we need to have a set trading plan and we'll get into that next that just gives us a set of rules that stop us from doing things that cause us to lose money miss out on money or just ultimately make stupid mistakes when it comes to trading you cannot come into this treating trading as if it's a hobby or some fun thing or like some gambling addiction this has to be tra treated like a job being the fact that you clock in you come and look at the markets at the same exact time you do the same things over and over again you make your money you get out of there you don't spend your entire day looking at charts because what you're going to end up doing is finding bad setups finding random things just to hop in random trades just to hop in just because you're bored and that is what causes a lot of people to lose a huge amount of money other things that you need to keep in mind a lot of problems that I see a lot of new Traders have is the fact that they like to overtrade realistically overtrading kills a lot of people's training careers think of it this way a lot of people believe that the more trades you take the more money you make which in reality that is the furthest thing from the truth the more trades you take the less quality trades you end up taking which means that you end up losing more trades and giving money to the markets we don't want to do that we want to make money in the market going based off of us taking A+ setups or great setups great strategies and then keeping our money and not giving it back so we want to not take a crazy amount of Trades we also want to have proper risk management I kind of told you guys about this before about always having at least a 2 to1 risk reward ratio now yes you can be profitable with the one to1 RIS reward Ratio or less but it can be a lot it could be a lot harder as a new Trader so that's why I think it's safe to start and that's how I started with a 2 to1 risk to W ratio so having proper risk management where we're not moving our stop- loss when we have a set stop loss right here knowing that if price gets here we're just going to close the trade out at a loss knowing that we're risking let's say $100 if price I just hit my mic but $100 if price gets right here we are okay with that but if price starts getting close to our stop loss and you end up moving your stop loss Downs causing yourself to end up losing more money and more money and more money and as you see it keeps going down now instead of losing $100 you ended up losing $600 and now you're like trading sucks there's no way that this works and it's all because you didn't have proper risk management you moved your stop loss never move your stop loss when you're setting up your trade that's how your trade should be that's how your stop loss should be that's how your take profit should be especially in the beginning another thing that you have to be extremely careful about is not switching from strategy to strategy to strategy you'll have a great week trading a strategy then maybe you'll lose two days in a row and you're like oh my strategy sucks let me find a new strategy please don't do that that was one of the biggest mistakes that I made as a new Trader and I see a lot of new Traders making they're switching from strategy to strategy to strategy just because they had a bad week or just because they had a bad month you have to realize like we talked about before Market Works in cycles and there are different types of markets we have our trending consolidating ranging things like that breaking out markets sometimes one month isn't going to be as profitable as the month before that's just what happens you need to learn to optimize your strategy in different market conditions so please do not jump from strategy to strategy to strategy find one or two strategies and stick to those make sure you stick to those please I'm telling you guys if you guys can do this this will save you so much time save you so much money just don't try and jump from strategy to strategy to strategy and then ultimately the main part that you need is discipline because if you set all these rules and we're about to get into creating a trading plan but if you don't have the discipline to follow this trading plan the trading plan is just a piece of paper you need to have discipline when it comes to trading it's something that's going to come over time but if you can just Master listening to yourself I promise the Journey of becoming a profitable Trader will not be long at all with that being said let's get into how to create your trading plan there are a couple things that you guys need to have written down so that you guys can answer these and have your trading plan formed I'm just going to give you guys the things to write down and you guys will answer it on your own time so the first thing you're going to need to write down is what pairs you're allowed to trade have a maximum amount of things that you're allowed to trade don't say you'll trade everything and have a million things on your watch list I suggest especially as a new Trader to only look at three pairs whether you want to trade Nas 100 NQ and GBP JPY whatever it is just stick to three pairs and the reason why that's so important is because as a new Trader and as a Trader overall you have to understand all these pairs and all these instruments all have different personalities and it's extremely hard to figure out the personality of each pair or instrument if you're looking at a million of them and the reason being is because okay if you just focus on NQ you know okay at 8:30 in the morning NQ has a lot of volume and it usually does this this and this at 4:30 that's when it starts slowing down at 10:00 it usually revers versus that kind of stuff you learn all that by focusing on just a handful of pairs so list out right now Max three pairs that you're going to focus on you're going to back test your strategies on you're going to actually trade live do not try and have a huge watch list like I said stick to Max three i' suggest two or one even but three is great for beginners next you're going to want to give yourself a window a Time window when you're allowed to take trades and the reason why that's so important is cuz a lot of people especially new Traders will just get bored at freaking 8:00 at night and just randomly start opening up trades just cuz they're bored and that's extremely detrimental to your success as a Trader like I told you guys you need to trade this as you need to treat this like a job so give yourself a Time window from when you're allowed to take trades for example you could say okay I'm allowed to take trades between 700 a.m. and 12:00 p.m. whatever that time window is for you you have to stick to that now that doesn't mean that you sit and look at your charts from 7:00 a.m. to 12:00 p.m. or 11:00 p.m. whatever it is or 11:00 a.m. sorry but that just means if your strategy and setup and your entry happens during that time frame you can trade it if it happens outside of that time frame you cannot trade it so make that time frame and stick to it next I kind of hinted at this but you need to have a set strategy I suggest having two strategies Max that you focus on you don't want to have a million different strategies you don't want to be all over the place trading trend line bounces trend line break support and resistance bounces supply and demand scalping you don't you don't want to be doing a million things at once cuz you'll never get to fully learn and optimize that strategy so stick to two strategies find whichever two resonate with you and just practice those practice those practice those and only trade those strategies no matter if you see another strategy happening or another setup happening just stick to those two that you have chosen you're also going to want to limit how many trades you're allowed to take per day the reason why that's so important is because a lot of times people just randomly be taking 100 trades a day and that's ludicrous that's absolutely crazy limit the amount of Trades that you're able to take as a scalper you're going to end up taking more trades per day than someone that's an intraday Trader intraday Trader is going to end up taking more trades today than a a swing Trader but for the most part you want to limit it and I like to say keep your trades especially as a scalper under five trades per day as an intraday Trader if you want to be an intraday Trader I say two or three trades Max and as a swing Trader one trade per day max or three or four trades per week Max and that's just going to kind of help you stay in a position where you're consistently looking for the best setups because you know okay as an entay Trader I can only take two trades do I want to use up one of my trades on this setup is this setup good enough for me to use one of my trades for the day on and it just helps you be more selective to take better trades you're also going to want to limit in the beginning how much money you're risking per trade you don't want to have $1,000 in your account and you're risking $500 per trade that's not realistic you're going to end up blowing your entire account so have a max amount of money that you're allowed to risk per trade and don't go over that number a good percentage that most people say as new Traders is to stay under 3% for the most part Max being 5% but I say stay under 3% of your entire account balance you're also going to want to write down your entry criteria what do you need to see to be able to enter into a trade and the reason why that's important is like I explained before you don't want to just get bored let's say all your other things are happening you but you just get bored and you're just like okay let me just press buy let me just press sell randomly but you have no entry criteria we talked about earlier inside the session about having an entry criteria looking at the Candlestick that has a full body or whatever it is for you a doy Candlestick just figure out one small thing that has to happen for you to be able to hop into a trade don't make it super specific because the markets can look different but just have something that's like okay it has to be above the vwap or it has to be below the vwap or it has to be whatever just have one small thing that just stops you from being able to randomly open up a trade now once you have all that like I told you guys if you guys don't have the discipline to actually stick to it it's not going to mean anything with having this trading plan I like to tell people to also form a consequence for it cuz losing money in trading is not a big enough consequence for basically everybody in trading they'll continue to make the same mistakes and make the same things that they know is causing them to continuously lose money because they just keep losing money that's all they feel I tell people to add a real life consequence to it and what I suggest for people is if you break any of your trading rules if you say you're risking $100 per trade and it goes to $11.50 you broke your trading rule if you traded outside your window if you traded a different strategy a different pay than you're supposed to you broke your trading plan and you have to have a consequence for it I tell people a good consequence is an ice bath or a cold shower nobody likes doing that so as soon as you break any of your rules instantly ice back instantly cold shower but obviously you know you better than I know you so think of something that you would not want to do more than two times I have people who have to take a ginger shot when they break their trading rules I have people that have to run five miles people that have had to give their little sister $100 just like whatever you would not want to have to do more than two times make that your consequence and every single time you break your trading plan or break your trading rules instantly do that consequence that's what's going to actually help you stay consistent in following your trading plan which is going to help you consistently become profitable so another huge part of becoming a consistently profitable Trader and what I've actually given credit for my success in trading is journaling your trades we kind of talked about this earlier on in this session as well as when we went over back testing I told you guys that journaling your back testing is extremely important but when you're actually live trading and trading in real time you also need to journal it it's extremely important because it helps you to be able to look back on all your trading data and be able to make decisions moving forward because you can see okay every time I lose a trade it's because this this and this every time I win a trade it's cuz this this and this so let me avoid this this and this that's called caus me to lose trades and let me double down on this this and this that's causing me to actually win trades and it helps you be extremely profitable because you're able to learn from your pre previous mistakes us as Traders us as people we can't remember what we did two weeks ago nonetheless being able to remember 10 trades that we did last month but that's important data trading is all about data and patterns I told you guys this in the beginning of this video it's all about patterns so when we see these patterns and where we're trading in live and real ironment we notice and we're able to pick up on other data that helps us to make better decisions moving forward so you need to be journaling your trades I say this if you're not journaling your trades it was going to be extremely hard for you to be a profitable Trader because you're not learning from your previous mistakes you're not looking at what happened last month what happened over the past five months I'm trading this strategy but over the past five months I could have made way more money if I made this small tweak and the only reason you'd know to make that small tweak is because you've been journaling these trades I had a strategy where I was consistently making a good $3 $4,000 on this strategy but I noticed that I could have held this strategy a lot longer where I can consistently end up making 8 9 10 11 $12,000 instead of the 345,000 I was making before and the only reason I knew I could do that is cuz I looked over my data that I had on my trading journal so that's why I'm telling you guys it's extremely important to journal your trades and I'm going to show you the platform that I personally suggest the journal that I suggest is just so smooth so simple so easy let's hop into it so I mentioned to you guys in the beginning of this video that you don't need as much money as you guys think and that's because you can use these things called prop firms so I'm going to show you guys exactly what prop firms are how they work and I'm going to show you guys which ones I recommend for you guys to use cuz there are a lot of scammy ones out there that aren't going to pay you out they're going to just be super super scammy and I want y'all to avoid those so I'm going to show you guys the ones that I personally use and the ones that I personally suggest so let's hop into this first of all what the heck is a prop firm basically in simple terms a prop firm allows you to pay a small fee let's say $200 and with that small fee you're able to take a challenge and what that challenge is is they'll give you let's say a $50,000 account you'll trade on that $50,000 account and if you're able to get to a certain profit Target let's say it's $53,000 then you can actually they'll actually give you that Capital to trade with now you're not able to withdraw $50,000 once you pass the challenge once you pass the challenge you have that $50,000 account and all the profits you make on it you're able to keep 80% or 90% depending on the prop firm so let's say you get a $50,000 account you pass it and you make $10,000 on it they will pay you $88,000 or $9,000 depending on what the profit split is and you're able to keep that money and all you had to pay was that $200 Initiation fee to take the challenge and then you have to pass the challenge and then make those profits so it's really great for new Traders or people who just have don't have a lot of capital but they want to be able to make a lot of money like I said you can invest $200 and have a the chance to have $50,000 to trade with instead of you having to go and scrap together $50,000 to trade with of your own so they're extremely beneficial they're great for Traders I always tell people they're not for completely new Traders if you're still learning as I told you guys stay on a demo account for at least 1 month once you do that and you start getting comfortable I suggest for people to go to a small Live account a small Live account is like 100 or 200 bucks and practice with that for about another month just to get you used to the emotions of trading with real money then once you do that and you feel more confident then you can buy a funded account this is when you actually start making a bunch of money you can start actually making thousands tens 20s $30,000 every single month after getting in these prop firms without having to put a lot of money up front so this happened to some PL firms that I personally suggest for you guys to check out and start using as soon as you start feeling comfortable in the trading space so here is one for Forex he mind there is funded prop firms for Forex Trading and Futures Trading right now we're going to start on Forex funer Pro right here a great platform I've used them for like two years now whenever I want to trade on a funded account I don't want to use my own live funds I've used them I've never had a problem with them paying me out they're super super cool you get daily payouts whenever you want keep in mind I'm not going to go into depth about all the different rules that they have when you go on these websites you you can just simply go through the their rules a lot of times their rules will be something like you start at $50,000 you can't go under 50 or you can't go under like $455,000 if you do that you lose the account and you have to buy it again but to pass it you have to get to $53,000 whatever that number is it'll basically tell you all the rules when you go on all these websites so this is a great funded account personally for Forex if you're going to trade Forex and the cool thing is that it connects actually to that platform that we went over trade Locker using the broker that I suggested for you guys with the link in the description down below now you can also get this platform and they have their um pricing and stuff like that all over their website um you can just go through it play around with it but I do suggest you guys use the link that I leave in the description down below because it'll save you 10% or 15% depending on which actual um account you end up getting so I can end up saving you 100 bucks 100 50 bucks whatever it is on that on the actual account when you purchase it like I said I've been using them for for a long time never had problems with them super super down toe I actually met all of their um the people on their team you see I did an interview with them right here that's that's me this handsome guy right here um so yeah super super dope um website and prop firm for the most part so I suggest you check them out if you want to get into Forex Trading and you want to use a prop firm for it but like I said I'll leave a link in the description down below to get this Forex platform and be able to save 10 or 15% on buying the actual funded accounts now if you want to get into trading Futures and you want a Futures prop firm top step right here is probably the most popular one that most people use they're cool I like them but I'll show you guys the one that I like a little bit more than them but a lot of people love TOP Step they're super super cool super super straightforward um they've been around the longest they're like the biggest one you can see all their plans here you can get a $150,000 account for $150 a month keep in mind it says every month but once you pass the challenge you don't pay the monthly anymore so most technically most people pass it within one month so technically you can get a $150,000 account for $150 which is super super cool um they're always having sales like you see they're always having sales all the time you can get a $50,000 account $100,000 account it's completely up to you they'll have their rules and everything like that on the website so I check them out I don't have a 10% off thing for y'all unfortunately but TOP Step is super super cool and they are cheap already so you can check them out if you want to get into Futures Trading you cannot trade Forex on a Futures prop firm just like you can't trade Futures on a Forex prop firm so um this is a cool Forex I mean Futures prop firm if you want to check out TOP Step it's top step.com now the one that I personally like a little bit more is called takeprofit Trader it's basically the same as TOP Step the only difference is you can get your payouts a lot faster than TOP Step um which is personally I like getting paid obviously as most people so I just like them a little bit more they're a little bit more expensive but um same thing $150,000 account is going to be $360 there's no sale on it top steps is usually $375 but they always have a sale but um take profit doesn't really have sales that much but you can check them out and compare whichever one you guys want to actually give a chance like I said if you want to trade Forex funder Pro is where you want to go if you want to trade Futures TOP Step or takeprofit Trader is what I personally like and how I tell people to use these prop is to use them get payouts from them and take a percentage of those payouts to fund your Live account because you ultimately want to get to the point where you're able to trade your Live account trade your own money without having to give 10 or 20% away to a prop firm because you're using their Capital so take a percentage of the profits that you make from these prop firms to use it to fund your Live account take the other percentage and go buy a freaking Lamborghini whatever the heck you want to do but make sure you're taking some of the money I personally like the fact that you can take some of money and just put it into a live account to trade it for yourself now if you've made it this far in the video I know you will be successful in trading cuz you've already put extreme amount of time into learning this skill so I want to give you the opportunity to get my Advanced tested strategies the same strategies that I use every single day to make multiple five figures in a matter of a couple minutes it's absolutely crazy now these strategies have been completely tested over 500 trades they are the same exact trades that I trade live every single day and they're the same strategies that have helped thousands of people make insane amounts of money every single day every single week and every single month you'll also get to be able to see the difference between a good version of the strategy and setup versus a bad version of it because a lot of times these strategies can look very similar but there will be small little changes that show me that this one might not win versus this one will win it kind of goes back to when we were talking about back testing and journaling our trades I've traded these trades over 500 times I've traded these strategies over 500 times so I've have been able to look back on the data and optimize it to Perfection and I want to give you guys the opportunity to be able to see those exact strategies as well as all the data and all the good setups versus the bad setups if you want that and be able to accelerate your trading to be able to make thousands of dollars every single day within a couple of minutes click the link inside the description down below to get it now if you've made it this far in the video I know you will be successful in trading cuz you've already put extreme amount of time into learning this skill so I want to give you the opportunity to get my Advanced tested strategies the same strategies that I use every single day to make multiple five figures in a matter of a couple minutes it's absolutely crazy now these strategies have been completely tested over 500 trades they are the same exact trades that I trade live every single day and they're the same strategies that have helped thousands of people make insane amounts of money every single day every single week and every single month you'll also get to be able to see the difference between a good version of the strategy and setup versus a bad version of it cuz a lot of times these strategies can look very similar but there will be small little changes that show me that this one might not win versus this one will win it kind of goes back to when we were talking about back testing and journaling our trades I've traded these trades over 500 times I've traded these strategies over 500 times so I've been able to look back on the data and optimize it to Perfection and I want to give you guys the opportunity to be able to see those exact strategies as well as all the data and all the good setups versus the bad setups if you want that and be able to accelerate your trading to be able to make thousands of dollars every single day within a couple of minutes click the link inside the description down below to get it it will literally teach you how to trade these strategies the exact same way that I trade them every single day and how I'm able to achieve this Financial Freedom this location freedom and this time freedom because I'm able to make an insane amount of money every single day with only spending a couple inside the market it's how I'm able to spend less than 30 minutes in the market every single day yet still be able to live my dream life with that being said I truly look forward to all the amazing testimonials and messages I'll get from people just like you that will tell me that this video changed their life this video allowed them to learn a skill that not just sets them free but their entire family to have that Financial that location and that time freedom to ultimately live their dream lives and I'm so happy that you guys guys entrusted your time with me to be able to teach you this insanely valuable skill if you got value out of this video I would suggest you subscribe because I'm consistently dropping value for people just like you that want to be able to become financially free with day trading I'm excited for you to start this journey and I look forward to you driving past me in that Lamborghini after getting your dream life I'll see you guys in the next video