Transcript for:
Day Trading: Where to Take Profit

hello my little baby boys hello are you guys ready to learn again today about where to take profit on your day trading Journey all right do I waste your guys time for the first five minutes of this video or do we get right into it hmm we'll get right into it okay because you guys seem to enjoy the last one let's get down to business okay okay okay okay I'm sorry Focus sorry I can't let the add in the pre-worky get ahead of me okay first of all can't cramp drink my electrolytes just had a great day at the gym let's sit and talk how's your Sunday going mine's going great thanks for asking and let me know in the comments how your guys's Sunday is going all right hopefully you guys are starting to get a good feel um for all the [ __ ] that we've been covering because now it's like boom we have the building blocks we put the pieces together you guys should know the [ __ ] strategy by now now we just have the small things okay we're gonna go over take profits today we're gonna go over stop losses tomorrow and then from there I need to do another check-in and then just boom just start grabbing grabbing videos okay um and then like just seeing what you guys want um me to explain all right so with that being said let's get into taking profits okay taking profits is relatively um easy okay like it shouldn't be too difficult to explain um but essentially where are we looking to take profit at okay it's at our building blocks Okay so we're not going to go over execution all right um we'll just go over where we're where we're looking to take profit okay and again it's literally just at our building blocks on whatever time frame that you're executing on okay or whatever like one Higher time frame you're on okay so let's say we we enter short okay this would be a stupid short position to take because we're in an uptrend on a bunch of different things but let's just say we take a short off of this liquidity sweep breaking struck through the downside we enter on this candle close for me what would my first take profit be okay again this is a terrible trade to take because like our first take profit would essentially be here okay but this is just showing like how we would set this up okay don't don't focus on the risk reward we're just going to go over what are high Confluence areas to take profits at and it's our building blocks okay so what do we have here right our building blocks our areas where price is likely going to react off of or where price could fill orders right so what is this move right here swept liquidity rally higher this is an order block okay so you'd have a take profit at the top of this order block or a take profit at the bottom of this order block what also is in line at the bottom of the sort of block liquidity boom another one of our building blocks what else could we do oh what's this a fair value Gap cool you could have a take profit boom within here and at the bottom of it it's really simple um that's that's like for me when I set take profits I do I do the I set it off of Boom the one Higher time frame draw on liquidity on whatever execution time frame on I'm on okay so let's say we take a short position on the five minute okay I would probably scale up to the 15 minute and find the first the first draw in liquidity okay within the direction that we're taking the trade so for me that would be here okay cool is this a good trade to take no okay we already explained that but this is just for examples okay cool this would be my first take profit second take profit could literally just be boom this for Value Gap and then I always said like I don't know I usually set like three or four take profits okay that's not really necessary you know you guys can put that into your trading plan however many take profits you guys want you guys can set it to you know oh I'm only going to have three take profits the first take profit is going to be the one Higher time frame draw on liquidity and then I'm going to use building blocks for the rest of it okay again with putting all the pieces together with that little series we talked about how we can get 15 minute entries for 14 for four hour trades that doesn't necessarily mean our first take profit is going to be off of like four hour liquidity it could be if you want to stay in the trade for that long and if you genuinely think it's going to get up there me personally since we're taking trades on Lower time frames I like to set take profits based on the execution time frame that we're on okay so I find draws of liquidity on whatever time frame that we're executing on I find building blocks for whatever um whatever time frame that we're that we're on and that's how I set my take profits it's really that simple okay I think taking profits is one of the like the smallest things that you guys need to worry about I think the largest thing would be daily bias and then following that would be execution and then following that it would be stop loss and then following that it would be taking profits okay this is kind of the least of your worries because if you're getting a good execution Point odds are price is going to go in your favor and you know most you guys aren't going to have a one to ten risks reward for your first take profit most of you guys is going to be like one to one one to one point five one to two one to three one to four one two five on 4K trade on BDS on GDK all right so I said it was gonna be normal but anyways that's literally all I do okay like I really don't know how else to explain it so like boom for this example okay we took out liquidity here all right cool we get a breaker structure the upside okay let's just do this on the four hour cool we get a breaking structure the upside boom we feel this fair value Gap maybe we enter off of that Boom for Value Gap entry stop underneath here let's say we're entering on the four hour okay most of the time my first take profit is going to be minimum one to one okay that's kind of the goal all right so boom one to one what kind of matches up with that cool this high drawing liquidity perfect First Take profit what can be another take profit there's another draw on liquidity there's not much action within here boom okay second type profit where could another say profit be well there's this order block right here but that kind of envelops this high already so what can we do boom another drawing liquidity all the way up here see we're just using our building blocks to set take profits okay let's find another example on on this with like uh Forex for example okay let's say we see this liquidity sweep breaker structure the upside and we just purely enter off that okay we don't use anything else special okay we ideally just want a one-to-one okay we have an imbalance within here boom we can Target the top of that imbalance what else do we have within here boom four hour order [ __ ] take profit two oops let's get rid of that take profit two can be the base of this if we scale down to the one hour what else do we have one hour order block boom take profit three right here and then take profit four could be the liquidity that's all the way up here simple stuff okay just use your building blocks because those are price magnets right if we see a liquidity void right what do we know about liquidity voids price is probably going to draw towards there what do we know about liquidity price is probably going to draw towards there why why is it drawing towards these high Confluence areas to fill orders right we've already seen and we've proven that these these price ranges are high Confluence for price to draw towards so why wouldn't you want to set that as your take profit right okay cool like let's look at this right now this was a trade that we took on Friday that we closed for Break Even because price was taken [ __ ] forever okay we came into that one hour order block boom we broke structure to the downside okay one of my first take profits where it even was I think it was off this order block this five minute order block because we entered off of the five minute break of structure right here entered here okay all right we entered off a five minute break of structure and then like a one one minute order block we entered off this thing okay so our entry was up here stop was like slightly above here all right our first take profit it was boom this five minute order block why because we were taking it off of a five minute break of structure and then a one minute entry okay ideally I'd like to set take profits not based off of one minute confluences okay because five right higher time frame holds higher power so for me I was like okay we had a five minute break of structure we entered off of a one minute execution point a one minute building block we'll just Target this five minute order block right how's this an order block boom oops boom sweep of liquidity rally higher perfect price drop price draws towards where could Man X take profit beat boom literally right underneath this second draw of liquidity right under here what can we also do we can scale up 15 minute time frame what do we have here wow would you look at that a fair value Gap boom take profit here you could do another take profit here simple simple simple [ __ ] okay very very easy um really not much else to explain here if I'm being real you guys um that's that's how you take profits um again I don't really know how else to look at Boogie just going crazy behind me bro anyways that's that's that's as simple as it gets we're just using our building blocks on whatever price and time frame or whatever time frame that we execute on and we're using those price ranges because those are high high probability price ranges that are pretty much prize magnets for price of draw towards when we see Market structure break Market structure shift to go in the other direction cool cool that's all all right I'll see you boys tomorrow for a little stop loss lesson okay peace out